Latest Headlines

Archive for February, 2020

Cyprus housing market set to slowdown

The housing market in Cyprus is set to slowdown in the medium term following a reduction in the number of sale contracts deposited at Land Registry offices during the second half of 2019.

Conor O’Dwyer loses Supreme Court appeal

British man Conor O’Dwyer who has fought a 15-year battle with the Cyprus justice system has failed in his appeal to the Supreme Court against the 2012 verdict in a case filed by Christoforos Karayiannas and Son Ltd.

Law regulating self-catering rentals enacted

The law regulating Airbnb and other self-catering accommodation rentals in Cyprus has been enacted requiring their owners to follow a set of regulations and formalities to legally provide their services.

New rent law contains grey areas

Although the rent law has been changed so that tenants now have to prove they’ve paid the rent to be able to defend their case in court, the amended law still contains some grey areas.

Larnaca port and marina gets go ahead

The redevelopment of the Larnaca port and the 600-berth marina is expected to start soon following an agreement reached between Cyprus and Israeli investors after year long negotiations.

Strong growth in construction continues

The strong growth in the Cyprus construction sector continued in November with building permits authorised for the construction of 909 new homes according to official statistics from the Cyprus Statistical Service.

Twice as many property sales to non-EU citizens

More than twice as many property sales were made to non-EU citizens than EU citizens in January according to official statistics published by the Department of Lands and Surveys last Friday.

Cash-rich banks stockpiling real estate

Cash-rich banks are stockpiling properties as they turn to buy real estate linked to mortgages of defaulted borrowers as banking institutions dominate the property market.

Is the Cyprus justice system broken?

Recent court cases have raised questions about the Cyprus justice system with a recent survey among Limassol-based lawyers highlighting their views on a number of key questions.

Foreclosure warning letters on the rise

The number of foreclosure warning letters being sent by the Cyprus banks to borrowers who fail to maintain their repayments is on the rise, according to information from the Cyprus Central Bank

Back to top