Latest Headlines

Reports written by Nigel Howarth

December 2018 building permits

Building permits for the construction of 504 new homes in Cyprus were authorised during December 2018; an increase of 55.1 per cent compared with December 2017 according to official figures.

Sharp rise in property sales in February

February saw a sharp rise in property sales compared to the numbers sold in the corresponding month last year according to official figures published by the Department of Lands and Surveys.

Limassol Aura high rise development

The construction of the 197 metre Aura high rise development in Limassol to be built on the present site of the Debenhams Olympia shopping centre on Limassol’s coastal road should be completed by the end of 2022.

Pissouri landslide: the living hell

As the landslide in Pissouri gains momentum destroying everything in its path more residents are living in hell in the village once described by Gordon Honeycombe as being on ‘The Edge of Heaven’.

Fewer new homes in November

Building permits for the construction of 580 new homes in Cyprus were authorised during November 2018; a fall of 11.9 per cent compared with the corresponding month in 2017 according to official figures.

Cyprus banks awash with properties

Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.

Trapped buyers still at banks’ mercy

Despite promises made by deputies last November that they intended to resolve the ‘trapped buyers’ mess by Christmas, it seems that little (if any) progress has been made towards its resolution.

Property sales continue to rise (update)

The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys.

Bank of Cyprus sells NPLs to APS

The Bank of Cyprus has sold non-performing loans (NPLs) amounting to some €34 million to APS, part of the APS Holdings group, which is also handling the Hellenic Bank’s portfolio of bad debts.

Larnaca high-rise developments planned

Larnaca may soon be joining Limassol, Paphos and Nicosia in the high-rise towers club, providing that the application for a town planning permit is approved by the Larnaca Municipality

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