Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Annette Chrysostomou

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Estia mortgage relief scheme launched

The Estia mortgage relief scheme was officially launched today to assist, support and protect vulnerable households who have mortgaged their primary residences for their loans and reduce the high number of bad debts.

Limassol plans low-cost housing units

Plans by the Limassol Municipality to build 500 low-cost housing units in Ayios Nicolaos and Ayios Ioannis to address the high rent problem in the city have been supported by the Interior Ministry.

Proposals to modernise rent laws

Legislation proposed by Cypriot MPs aims to overhaul and modernise outdated rent legislation and make procedures more effective when tenants fail to meet their contractual obligations.

Another high rise development in Limassol

The Shacolas group is planning to demolish the Debenhams Olympia centre in Limassol to make way for the 197 metre high rise Aura development of luxury apartments that will be the tallest in Cyprus.

Paralimni marina contracts signed

Contracts for the construction of the Paralimni marina have been signed; with an estimated capacity of 300 vessels and at a cost of €110 million, the marina is expected to be fully operational by mid-2021.

Crocodile park returns

Following a rejection of a crocodile park by the Psematismos and Athienou communities TSA Crocopark Ltd has approached the Achna district to discuss the possibility of a theme park.

Cyprus 7th most popular spot in Europe for Brits

Cyprus is the seventh most popular European country for Britons seeking to relocate or buy a second property with Paphos being the most popular region according to search statistics collected by Rightmove.

Chinese property scam second arrest

A second man has been remanded for three days in connection with the scamming of a Chinese property investor and is suspected of being the partner of the 43-year-old man arrested a week ago.

Residential twin towers at Ayia Napa

Work on the construction of two luxury residential twin towers ay Ayia Napa should get underway in late September and will form part of the town's new marina accommodating 400 to 450 vessels.

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