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Highest property prices and rents in Limassol

Limassol is where rental and property prices are the highest in Cyprus according to a recent report by DANOS International Property Consultants (DANOS/BNPPRE) due to tourism and Airbnb-type rentals.

Cyprus real estate investment: prospects & risks

The figures, trends and the state of the Cyprus real estate market over the last few years are a clear indication that Cyprus is becoming more and more interesting for property investors.

Calls to end Golden Visa schemes

European lawmakers have urged member states to end their Golden Visa schemes as their advantages do not offset the serious security, money laundering and tax evasion risks they present.

Cyprus’ vulnerabilities remain significant

The European Commission notes that despite the recent improvement, Cyprus’ vulnerabilities, which are mostly due to long-lasting stock-imbalances, continue to be significant.

Changes to Citizenship scheme approved

Changes to Cyprus’ controversial citizenship-by-investment scheme, which has granted 1,864 citizenships and generated €6.6 billion of foreign investment, have been approved by the Cabinet.

Almost 2,500 ‘golden visa’ applications

A list contained in a letter that was leaked to the media reveals that between May 2013 and August 2018 2,390 ‘golden visa’ applications were filed on behalf of foreign nationals seeking Cypriot naturalisation.

S&P raises Cyprus credit rating to BBB-

Cyprus got its investment credit worthiness back on Friday as Standard & Poor’s raised the country’s credit rating from BB+ to BBB- with a stable outlook, five years after the financial collapse.

Tougher checks on citizenship bids

The EU says member states need to keep an eye on the number of citizenships they hand out in exchange for investment. Justice Commissioner Vera Jourova has warned that citizenships for sale represent a security threat.

Funds eyeing Bank of Cyprus bad loans

A number of funds are reported to be interested in buying some of the Bank of Cyprus’ non-performing loan portfolio, which is valued at as much as €5 billion, according to Bloomberg.

Passports scheme could bring Dutch disease

The Fiscal Council has warned that overreliance on the Passports for Cash Scheme aka Citizenship by Investment Scheme aka Golden Visa Program could bring ‘Dutch disease’ to Cyprus.

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