Cyprus Property News for home buyers and real estate investors

Saturday 6th March 2021
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Annie Charalambous

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

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.

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."

Financing high-rises a headache for bankers

The financing of high rises and other major developments in Cyprus that are aimed at foreign buyers interested in acquiring a Cypriot passport are giving the bankers a headache.

Passports: the barometer for real estate

Stricter criteria imposed earlier in the year before a Cyprus passport can be acquired have impacted real estate sales, according to a recently-released Central Bank of Cyprus financial report.

Cyprus property boom is not a bubble

The Cyprus Finance Ministry says that the boom in the Cyprus property market is not a bubble but acknowledges that the potential large-scale sell-off of properties by the banks could push prices down.

Chinese investors in €30 million property deal

Chinese investors have secured land amounting to 32,271 sqm. in the Tsiflikoudia area of Limassol to the north of the marina in a €30 million deal with the Bank of Cyprus' Real Estate Management Unit (REMU).

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