Cyprus Property News magazine for overseas buyers & real estate investors

Wednesday 30th September 2020

Editorial

Developers call to end ‘golden passports’ debate

The Association of Large Property Developers has called on those engaging in public criticism of Cyprus' Citizenship for Investment scheme to stop, arguing that...

President wants probe into ‘golden passport’ scheme

Cyprus President Nicos Anastasiades said he will ask the Attorney-General to appoint an investigating committee to conduct a probe into the citizenship by investment...

No better way to shoot yourself in the foot

The 'Cyprus Papers' revealed by Al Jazeera that humiliated the administration should be a wake-up call to everyone on this island that the goose...

No easy way to revoke dodgy golden passports

Demetra Kalogirou, head of the task force reviewing high-risk cases of 'golden passports' that were issued to convicted investors, is seeking legal advice to...

Cyprus urged to scrap ‘corrupt’ golden visas

Cyprus Citizenship for Investment scheme has not only attracted Al Jazeera's attention but also come under scrutiny from global anti-corruption watchdog Transparency International who...

Tender awarded for Larnaca port and marina

The long-awaited €1.2 billion redevelopment of Larnaca port and its marina got the final green light Monday after the Transport Ministry sent a 'Successful...

Cyprus tightens grip on ‘golden passport’ scheme

Cyprus has not processed any passport applications of a foreign investor since January, pending the approval of tougher criteria regulating the Citizenship for Investment Scheme.

Cyprus to revoke passports of foreign investors

Nicosia is set to revoke Cyprus passports from at least 26 suspect investors as soon as the House of Representatives passes a law on tighter controls approved by cabinet earlier this week.

Historic deal allows property development in British Bases

Cypriots who own land in non-military areas inside the British Bases will be able to sell or develop their properties, following a milestone agreement between Cyprus and the UK.

Ayia Napa Marina starting operations soon

Ayia Napa marina is in the final phase of construction and is gearing up for the start of operations with the entrance and berthing of the first boat on January 27 marking the beginning of the marina’s pilot operations.

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.

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.

Affordable housing incentive scheme fails

The government's affording housing scheme, which offers developers incentives to provide cut-priced homes for low-income groups, has failed to attract developers wishing to participate in the programme.

Cyprus: buying property

The UK Foreign & Commonwealth Office has recently updated information for British nationals wanting to buy property in Cyprus; further information be found on the UK.GOV website.

Online property auctions to combat NPLs

An online auctions platform has been launched designed to increase the sale of mortgaged properties whose owners have defaulted on their loan agreement and before a foreclosure has taken place.

Instability expected in Cyprus real estate sector

Although it's too early to make any conclusions, there are indications that the Cyprus real estate sector may experience significant instability and uncertainty in 2020 according to a PwC report.

Radical justice reforms on the way

The government is determined to introduce radical reforms to the justice system to do away with lengthy delays and restore confidence among quality investors turned-off by the legal labyrinth.

Most Read

EU vows to take aim at ‘golden visa’ programmes

For years, wealthy Chinese have made investments in Cyprus and Malta in exchange for European Union passports – so-called golden visa transactions. Now, Brussels...

Wealthy Britons turn to Cypriot citizenship

The number of British entrepreneurs looking to "buy" citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms...

Mixed outlook for real estate

BNP Paribas has released its second 2020 report regarding the property market outlook post-pandemic, presenting forecasts about real estate in uncertain times. The obvious differentiation...

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