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Archive for January, 2020

A 16-storey tower in Germasogeia

A 71.7 metre tall, 16-storey tower called ‘Mandarin Park’ comprising a mixed development of commercial and residential properties is to be built in the Germasogia area of Limassol.

The long road to justice

Conor O’Dwyer speaks to the Sunday Mail about his 15-year battle with the Cyprus justice system, since he and his wife bought a property from Christoforos Karayiannas and Son Ltd.

Banks to offload €4 billion NPLs

The Bank of Cyprus and the Hellenic Bank will sell non-performing loans (NPLs) worth €4 billion by the end of February enabling them to dispose of more than 10% of their problematic loans.

Citizenship applicants are high-risk

The Institute of Certified Public Accountants of Cyprus (IPAC) has cautioned its members that “Investment citizenship programs carry inherent risks relating to money laundering, corruption, bribery and tax evasion.”

O’Dwyer hopes quest for justice is finally over

British man Conor O’Dwyer hopes his fifteen-year quest for justice over a dodgy property sale will come to an end on Friday when the Supreme Court in Nicosia hears his appeal.

Law regulating Airbnb rentals passed

A bill to regulate the rentals of self-catering accommodation by owners through online platforms like Airbnb and booking .com was passed by MPs earlier today, covering both new and existing accommodation.

House prices not recovered from 2007 crash

House prices and rents in Cyprus have yet to recover to the levels last seen before the island’s property market bubble burst in 2007 according to the statistical office of the European Union (Eurostat).

Law to evict tenants to parliament

Amendments to the rent control law making it easier for landlords to start the process of evicting tenants who fail to pay their rent will be presented at a plenary session of parliament on Friday.

House price index falls 5.9 per cent

The Cyprus house price index (HPI) fell by 5.9 per cent in the third quarter of 2019 but rose by 2.3 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).

Permits authorised for 744 new homes

Building permits authorised in Cyprus during October 2019 provided for the construction of 744 new homes, compared with 617 in October 2018 according to official figures published by the Statistical Service.

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