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Archive for 2019

Armou landslide victims sue Cyprus government

A British couple whose dream home at Armou in Cyprus is collapsing due to the landslide is suing the Cypriot government for allowing the development to be built on unstable ground.

Protest at Olympia property exhibition

Protesters seeking to stop Britons from buying property in Cyprus was held outside the Olympia exhibition centre in London where ‘A Place in the Sun Live’ overseas property exhibition is being held.

Alpha Bank loses Swiss Franc loan court action

Alpha Bank Cyprus has lost a court action it took against a British national who failed to comply with the obligations of his Swiss Franc loan agreement with the judge at the Larnaca District court awarding costs to the defendant.

Building permits issued for 576 new homes

The number of new homes in Cyprus for which building permits were issued rose by 13.2 per cent in February 2019 compared to February 2018 according to the Cyprus Statistical Service.

Cyprus strong growth momentum continues but…

Cyprus’ economic expansion is set to remain robust, driven by domestic demand, but risks are tilted to the downside, according to the European Commission’s spring 2019 economic forecast.

Cyprus property sales at eleven year high

Cyprus property sales in April reached the highest monthly figure recorded since September 2008 following a 61 per cent surge according to official figures from the Department of Lands and Surveys.

Single family clings on in Armou

One family hanging on in their crumbling home in Armou, trapped in a house which has had a ban order on it for the last eight years, is seeking legal recourse with the government and is taking them to court.

Rush for Cypriot passports before rules tighten

Foreigners are rushing to acquire Cypriot passports via the citizenship-by-investment scheme before the rules are tightened on 15th May according to a report in the Greek daily Phileleftheros.

Highest property prices and rents in Limassol

Limassol is where rental and property prices are the highest in Cyprus according to a recent report by DANOS International Property Consultants (DANOS/BNPPRE) due to tourism and Airbnb-type rentals.

No more mockery it’s a landslide

The Pissouri Housing Initiative Group (PHIG) have issued a news release ‘No more mockery, it’s a landslide’, in response to the Auditor-General’s comments that the state had no obligation to compensate homeowners.

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