Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday, June 2, 2020

Monthly Archives: January, 2018

Swiss franc loan annulled in Slovenia

In a ruling that could have implications for the Cyprus banks, a Slovenian court has annulled a Swiss Franc loan used to acquire property because the bank failed to advise the customer of the risks.

Calculating communal fees

Communal fees are required to pay for the insurance, maintenance and repair of apartment buildings in Cyprus and other types of building complexes that contain common areas and shared facilities.

Cyprus house price index falls 0.3 per cent

The Cyprus house price index (HPI) fell by 0.3 per cent in the third quarter of 2017 but rose 0.6 per cent on an annual basis according to a preliminary estimate by the Statistical Service.

Larnaca port and marina contracts

Contracts for the Larnaca port and marina project are expected be signed later this year according to Marios Demetriades, the Cyprus Minister of Transport, Communications and Works.

Government striving for Title Deeds solution

The Cyprus government is trying to expedite a resolution to the Title Deeds-cum-fraud mess in which people were duped into buying property built on land that the developer had earlier mortgaged to the bank.

New home building permits up 41 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 41.4 per cent in October 2017 compared to October 2016 according to the Cyprus Statistical Service.

Paralimni marina contracts signed

Contracts for the construction of the Paralimni marina have been signed; with an estimated capacity of 300 vessels and at a cost of €110 million, the marina is expected to be fully operational by mid-2021.

2017 a better year for property sales (Update)

For the fourth consecutive year Cyprus property sales rose during 2017 according to the latest official statistics published earlier today by the Department of Lands and Surveys in Nicosia.

Paphos marina appeal upheld

The twenty seven year saga of the Paphos marina continues following a ruling by the Supreme Court that the committee responsible for overseeing the marina tender process is unlawful.

Row over Limassol high-rise development

The Limassol high-rise development known as 'Blue Marine' has been given the go ahead by the cabinet despite a ruling handed down by a judge in favour of owners & the Municipality who raised objections.

Cyprus property taxes in 2018

A number of changes to Cyprus property taxes have been made in recent times, most notably the introduction of VAT on the sale of building land, which I have summarised together with other changes in this article.

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Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.

Historic collapse of property sales

Property sales in Cyprus have collapsed as a result of the coronavirus pandemic to a level only seen once before when the events of March 2013 made Cyprus a household name around the world.

Building permits maintaining strong growth

The number of building permits authorised in Cyprus during February 2020 provided for the construction of 680 new homes; an increase of 18 per cent compared to February 2019 according to official figures.

Cyprus passport programme under fire again

The Cyprus citizenship by investment programme, which enables well-heeled foreigners to obtain an EU passport for investments of at least €2 million, has come under fire again from the European Union.