Cyprus Property News magazine for overseas buyers & real estate investors

Saturday 11th July 2020

George Psyllides

MPs reject property tax bill

MPs have rejected a government request to discuss and vote on the bill designed to increase Immovable Property Tax as part of the island's bailout deal saying they needed more time to consider its ramifications.

Calls to change property tax provisions

MPs have urged the government to look again at the bill to increase Immovable Property Tax following warnings that the tax hike will drive the island's economy deeper into recession.

Developers unhappy with property tax changes

The Land and Building Developers Association has warned that the new property tax regime agreed as part of the island's bailout conditions will threaten prospects for the sector's recovery.

Greece exit from Eurozone would hit Cyprus hard

Experts agree that Greece leaving the Eurozone would hit Cyprus hard; the Island will be plunged into a deeper recession, the entire population will have to make sacrifices and we will end up in an EU bailout.

Bank of Cyprus takes a €1 billion hit on Greek debt

The Bank of Cyprus, the Island's largest lender, posted a net loss of 1.01 billion Euros in its 2011 results on Tuesday after making a writedown totalling 1.32 billion Euros on its Greek sovereign debt holdings.

Banks say town planning bills unconstitutional

The Association of Cyprus Banks believes that some provisions in the three town planning bills currently awaiting parliamentary approval are unconstitutional and has called on the government to think again.

Minister and opposition in row over Title Deed bills

A row between the Cyprus Interior Minister Neoclis Sylikiotis and opposition party DISY has broken out over delays in the long-awaited Title Deed bill amendments.

State to appeal O’Dwyer decision and sentence

The Attorney General of Cyprus has authorised state prosecutor Thanasis Papanicolaou to appeal the Court’s decision and sentence in the Conor O’Dwyer assault case.

Cyprus court awards couple €100,000 in property case

The court in Cyprus has awarded damages of €100,000 to property buyers Simon and Jennifer Penney in their case against FK & S (Varoshia) Properties Ltd.

Cyprus police name K & M Famagusta developers

In a move designed to protect the public, the police have named the Cyprus property developer under investigation for several cases of alleged fraud including selling the same property twice.

Cyprus property developer under police investigation

The police are investigating a Cyprus property developer who is alleged to have sold the same apartment twice; a situation that might have been avoided if the Land Registry were doing their job properly.

Developers warn of layoffs

Around 600 staff from Cypriot development company Alpha Panareti held a protest outside the Paphos town hall over bureaucratic delays in government departments that could result in staff layoffs.

Cyprus refugees to get Title Deeds

The government is trying to secure Title Deeds for all refugees living in government-built estates, including those on Turkish Cypriot land, a top official said on Thursday.

Call to outsource Title Deeds procedure

The Land and Building Developers Association has called on the Cyprus government to outsource eleven of the twelve procedures currently needed to issue a Title Deed to the private sector.

Most Read

Cyprus’ largest ever housing project will help low-income families

Limassol municipality and the Land Development Corporation (KOAG) reached an official agreement on Thursday regarding the establishment of the largest housing project ever undertaken in Cyprus, worth €100 million.

Corrupt lawyers continue to plunder estates

Corrupt lawyersin Cyprus continue to plunder the estates of their deceased clients by calculating their fees for administering estates on the Cyprus Bar Association's 'Minimum Fee Regulations', which were abolished in 2018

Cyprus house price index up 2.5 per cent

The Cyprus house price index rose by an average of 2.5 per cent in the first quarter of 2020 compared to the previous quarter according to official figures from the Cyprus Statistical Service (CYSTAT)

MPs commit to expedite citizenship bills

MPs have committed to expediting the bills and regulations aimed at improving the transparency of the citizenship-by-investment programme, so that the items can be voted on before the House breaks for the summer recess.