Cyprus Property News for home buyers and real estate investors

Monday 19th April 2021
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Staff Reporter

First court ruling against bank for unfair terms

Lawmakers on Thursday welcomed the first court judgement against a bank for unfair terms of contract, but still harangued the banks for acting with...

Cyprus to expand mortgage relief scheme

Cyprus is looking into ways of expanding a relief scheme subsidising borrowers with toxic mortgages to cover borrowers who failed to make the first...

Swiss Franc loan nullified following ECJ ruling

A legal test case resulted in a Swiss Franc loan being declared null and void by the Warsaw District court on Friday, leaving the banks in Poland open to losses estimated at €10.2 billion.

New criteria for passport scheme

New criteria for those wishing to obtain a Cyprus passport through the much criticised citizenship by investment scheme will come into force next week and will include due diligence checks on applicants.

MPs say no to foreclosures veto

Cyprus MPs have voted to reject President Nicos Anastasiades' veto on changes to the foreclosures legislation designed to freeze repossessions of primary residences until October.

Foreclosures row could end up in Supreme Court

President Anastasiades could refer the bills amending the foreclosures law to the Supreme Court following the Attorney General's advice that they are unconstitutional if opposition MPs reject his veto.

More work needed on Ayia Napa marina

Although progress with the construction of the Ayia Napa marina is moving ahead as planned, it seems that more time may be needed to complete some of the infrastructure needed for the project.

Moody’s warns foreclosure law bad for banks

Moody’s rating agency has warned that changes to the foreclosure law will lengthen the time it takes for banks to foreclose on properties making it more difficult to reduce their NPLs.

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