Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 16th July 2020

Press Release

Cyprus relaxes most domestic capital controls

The Finance Ministry said in a statement Friday that a prohibition on cashing checks as well as caps on domestic transactions and payments that don't require central bank vetting have been removed.

Stress test scenarios do not bode well

Residential property prices will fall by 4.0 percent in 2014, while real estate prices in general are predicted to go down by 11.9 percent under the EBA's pan-European stress test scenarios.

Cyprus economy & real estate forecast 2014-2015

Although Leaf Research predicts that the downturn in the Cyprus real estate market is likely to continue, some positive prospects for the island's economy and its real estate market are starting to appear.

Cyprus program remains on track says Troika

On its completion of its third assessment of the Cyprus Economic Adjustment Program, the Troika has issued the following statement noting that although the program remains on-track, Cyprus still faces significant risks.

New High Court action: all currencies, all banks

New action group launched to pursue action against unfair bank loans at the English High Court and the European Court of Justice by the Anglo-Hellenic & Cypriot Law Association; deadline to join group extended until 10 March 2014.

Troika discussing title deeds delay

The Troika delegation is continuing its meetings in Cyprus and will be discussing the delays in issuing title deeds today as part of its third review of the economic adjustment programme.

Evidence of improving banking sector stability

The Bank of Cyprus leadership believes there is evidence of improving stability in the Bank and generally in the banking sector and points out that it is fully committed to restoring the confidence of depositors and customers.

Call for BBC to investigate Cyprus property issues

A petition has been launched calling on BBC Panorama Current Affairs to investigate and report on the issues facing UK citizens who purchased off plan properties in the Republic of Cyprus.

European Court action gathers pace

Those wishing to join the action group announced month that is seeking compensation at the European Court of Justice for the mis-selling of Swiss Franc loans have until the 8th February 2014 to sign up.

yoo to launch first project in Cyprus

yoo, the global design, development and branding firm is to launch a luxury coastline project in Cyprus under the 'yoo inspired by Starck' brand, headed by the one of the world's most revered designers Philippe Starck.

Co-ordinated action at European Court of Justice

Action focussing on the systemic failings of banks in their mis-selling of Swiss Franc loans is being taken at the European Court of Justice to pursue a claim for damages against the responsible European authorities.

Pitfalls increase in Cyprus property disputes

Defective powers of attorney, time limits for making claims and write-offs are all thrown into the arena in the next phase of the long-standing Cyprus property disputes between banks and purchasers.

Title Deeds issued at last for Froiber Group buyers

Liquidators appointed to handle six of the eight companies comprising the Froiber Group has completed the work necessary to get Title Deeds issued for eight apartment buildings; efforts are concentrated on the rest.

Rules to limit risks for home buyers

In a move that has come too late to help those who bought property in Cyprus with home loans denominated in Swiss Francs, the European Parliament has outlined rules to limit risks for home buyers.

Is Alpha Bank ready to settle all Cyprus property claims

As thousands of British buyers of properties in Cyprus are taking on the banks before their claims are time-barred on 31st December 2013, the Alpha Bank are beginning to settle claims to stem the tide.

Britons cases scheduled for trial in Cypriot court

Provisional trial dates have been set for a Cypriot court to hear cases involving hundreds of UK buyers who were misadvised when buying properties in Cyprus and who are facing 'unpayable' loans.

Alpha Bank Cyprus sued in England

In what is believed to be one of the largest Collective actions ever taken against a company operating in Cyprus, litigation proceedings are issued against Alpha Bank Cyprus in the Royal Courts of Justice in London.

Golf course at Secret Valley to open soon

A new 18 hole golf course at Secret Valley, which is part of the Venus Rock Resort development, is expected to open soon following the recent deal negotiated with China Glory National Investment.

Restructuring Cyprus loan agreements

There is no one size fits all solution to the problems faced by those who have bought property in Cyprus with a loan denominated in Swiss Francs that is going to remedy the situation.

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

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Corrupt lawyers continue to plunder estates

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Cyprus house price index up 2.5 per cent

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