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Archive for April, 2019

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.

Solution for trapped buyers edging closer?

Amendments to the law designed to resolve the Title Deed mess by enabling trapped buyers who were duped into buying homes on land their developer had earlier mortgaged to the bank to obtain their Title Deeds are edging closer to a vote my MPs.

Angry Pissouri residents block highway

Pissouri residents blocked the Limassol Paphos highway to protest over the government’s delay in compensating homeowners whose homes are being destroyed by the landslide to the south east of the village.

Cyprus real estate investment: prospects & risks

The figures, trends and the state of the Cyprus real estate market over the last few years are a clear indication that Cyprus is becoming more and more interesting for property investors.

EU reports Cyprus house prices up 3.5 per cent

House prices in Cyprus rose 3.5 per cent in the fourth quarter of 2018 and by 1.6 per cent year-on-year according to Eurostat, the statistical office of the European Union, in its latest news release.

Claims of one-sided property valuations

Allegations over one-sided property valuations in which the banks are undervaluing properties used in loan restructuring cases have been heard by members of the House Commerce Committee.

New homes in Cyprus up 15 per cent

The number of new homes in Cyprus for which building permits were issued rose by 15.1 per cent in January 2019 compared to January 2018 according to the Cyprus Statistical Service.

Cyprus hotels pushing for Airbnb legislation

The Cyprus Hotel Association is pressing MPs to pass a bill regulating Airbnb type rentals that has been on the table for nearly a year to combat what hoteliers consider as unfair competition.

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