Cyprus Property News magazine for overseas buyers & real estate investors

Saturday 11th July 2020

Monthly Archives: June, 2018

Cyprus running out of time to reduce NPLs

Pressure is mounting on the Cyprus banks to reduce non-performing loans (NPLs) and proposals put forward by the Finance Ministry could also fix areas in the law affecting the issue of title deeds from indebted developers.

Permits for new homes up 13.3 per cent

The number of building permits for the construction of new homes in Cyprus rose 13.3 per cent in March 2018 compared to March 2017 providing for the construction of 467 new homes.

Cyprus property sales up 29% in May (Update)

The number of property sales in Cyprus continued to rise in May with the number of sales contracts deposited at Land Registry Offices across the Republic up 29 per cent compared with May 2017.

REMU debt to asset swaps increasing

Increasing numbers of properties in Cyprus including homes, hotels and golf courses are being transferred to the Bank of Cyprus Real Estate Management Unit (REMU) by debt to asset swaps.

Another high rise development in Limassol

The Shacolas group is planning to demolish the Debenhams Olympia centre in Limassol to make way for the 197 metre high rise Aura development of luxury apartments that will be the tallest in Cyprus.

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Cyprus’ largest ever housing project will help low-income families

Limassol municipality and the Land Development Corporation (KOAG) reached an official agreement on Thursday regarding the establishment of the largest housing project ever undertaken in Cyprus, worth €100 million.

Corrupt lawyers continue to plunder estates

Corrupt lawyersin Cyprus continue to plunder the estates of their deceased clients by calculating their fees for administering estates on the Cyprus Bar Association's 'Minimum Fee Regulations', which were abolished in 2018

Cyprus house price index up 2.5 per cent

The Cyprus house price index rose by an average of 2.5 per cent in the first quarter of 2020 compared to the previous quarter according to official figures from the Cyprus Statistical Service (CYSTAT)

MPs commit to expedite citizenship bills

MPs have committed to expediting the bills and regulations aimed at improving the transparency of the citizenship-by-investment programme, so that the items can be voted on before the House breaks for the summer recess.