Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: March, 2019

Government must help Pissouri landslide victims

The Government of Cyprus must protect Pissouri landslide victims from the consequences of the uninsurable natural disaster, as is their right under Article 1 of Protocol 1 of the European Convention on Human Rights.

Calls to end Golden Visa schemes

European lawmakers have urged member states to end their Golden Visa schemes as their advantages do not offset the serious security, money laundering and tax evasion risks they present.

Government not accountable for Pissouri landslide

The Auditor General has argued that it's developers, not government, responsible for the landslide in Pissouri and that it's unacceptable to transfer the burden of responsibility to government.

Five more Armou landslide victims

A creeping landslide is slowly destroying a further five homes at Armou in Paphos and there are ominous signs that they will eventually be served with banning orders like the six declared uninhabitable in 2012.

Renewed call to reform Title Deeds system

The EC and the ECB have renewed their call on Cyprus to "swiftly address the long-overdue reform of the title deeds issuance and transfer system" at the completion of their 6th PPS mission.

Energy saving measures grant scheme

There are opportunities for those living in Cyprus to the reduce their energy costs through a new energy saving scheme that encourages the use of renewable energy sources and energy saving in households.

Supreme court upholds Aristo acquittal

The Supreme Court has rejected an appeal against the acquittal of Theodoros Aristodemou, the founder of Aristo developers, and three others in connection with a development project in Skali.

Slippage of stricken Tala development accelerates

Heavy rain has accelerated the land slippage on a doomed development in Tala, which consists of four apartments, two villas and eight townhouses; the developer has provided alternative properties.

December 2018 building permits

Building permits for the construction of 504 new homes in Cyprus were authorised during December 2018; an increase of 55.1 per cent compared with December 2017 according to official figures.

Money to help Land Registry clear backlog

€3.6 million has been requested by the Interior Ministry to help clear the backlog of cases at the Land Registries involving Title Deeds, boundary disputes, etc. and to pay associated expenses.

Alarm bells over house prices

The Central Bank of Cyprus has sounded alarm bells over rising house prices, particularly in Limassol, due to the Invest Citizenship scheme and has highlighted the need for vigilance.

Sharp rise in property sales in February

February saw a sharp rise in property sales compared to the numbers sold in the corresponding month last year according to official figures published by the Department of Lands and Surveys.

Swimming pool laws set to hit tourism revenues

Barring a miracle, swimming pools in privately owned complexes, such as the Royal Seacrest in Kato Paphos, will remain closed this year affecting tourist revenues and local businesses.

Limassol Aura high rise development

The construction of the 197 metre Aura high rise development in Limassol to be built on the present site of the Debenhams Olympia shopping centre on Limassol's coastal road should be completed by the end of 2022.

Most Read

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.