Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020
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Cyprus real estate stricken by pandemic

Pundits believe that the Cyprus real estate market will suffer a significant downturn as a result of the coronavirus pandemic, which is mainly supported by foreign investment and demand.

€2000 demanded to correct Pissouri fake news

A Greek language newspaper has demanded two thousand Euros to publish a letter correcting a fake news story concerning the Pissouri landslide, which it published on Saturday 7 March.

Conor O’Dwyer loses Supreme Court appeal

British man Conor O'Dwyer who has fought a 15-year battle with the Cyprus justice system has failed in his appeal to the Supreme Court against the 2012 verdict in a case filed by Christoforos Karayiannas and Son Ltd.
Larnaca marina and port project

Larnaca port and marina gets go ahead

The redevelopment of the Larnaca port and the 600-berth marina is expected to start soon following an agreement reached between Cyprus and Israeli investors after year long negotiations.
Cyprus agreement impossible

Foreclosure warning letters on the rise

The number of foreclosure warning letters being sent by the Cyprus banks to borrowers who fail to maintain their repayments is on the rise, according to information from the Cyprus Central Bank

Saudi ‘should not have been granted’ citizenship

The citizenship application of a Saudi businessman whose jet was used by President Nicos Anastasiades should have been rejected as it failed to meet the criteria according to an Auditor General’s report.

A 16-storey tower in Germasogeia

A 71.7 metre tall, 16-storey tower called 'Mandarin Park' comprising a mixed development of commercial and residential properties is to be built in the Germasogia area of Limassol.
Conor & Michaela O'Dwyer with ITV film crew outside the Cyprus High Commission in London today

The long road to justice

Conor O'Dwyer speaks to the Sunday Mail about his 15-year battle with the Cyprus justice system, since he and his wife bought a property from Christoforos Karayiannas and Son Ltd.

O’Dwyer hopes quest for justice is finally over

British man Conor O'Dwyer hopes his fifteen-year quest for justice over a dodgy property sale will come to an end on Friday when the Supreme Court in Nicosia hears his appeal.

Affordable housing incentive scheme fails

The government's affording housing scheme, which offers developers incentives to provide cut-priced homes for low-income groups, has failed to attract developers wishing to participate in the programme.

Financing high-rises a headache for bankers

The financing of high rises and other major developments in Cyprus that are aimed at foreign buyers interested in acquiring a Cypriot passport are giving the bankers a headache.

Passports: the barometer for real estate

Stricter criteria imposed earlier in the year before a Cyprus passport can be acquired have impacted real estate sales, according to a recently-released Central Bank of Cyprus financial report.

Top ten Cyprus property stories in 2019

Cyprus property news has attracted more than three quarters of a million visitors in 2019 and here's a summary of the top 10 most popular stories, which include news and articles on a broad range of subjects.

EC wants answers to risky citizenships

The European Commission has asked Nicosia whether it would investigate "possible misconduct" in the scandal involving the granting of Cypriot citizenship of 26 high-risk individuals.

New scheme to speed building permits by 2022

A new scheme to simplify and speed up building permits should be fully rolled out by 2022 provided that 18 other actions take place, including amendments to the law and ministerial orders.

Names of 25 citizenship investors revealed

The names of 25 of the 26 investors from whom Cyprus is in the process of revoking citizenship have been named; nine Russians, eight Cambodians, five Chinese, two Kenyans and one Malaysian.
debt relief orders

Estia scheme falling flat on its face

The Cyprus non-performing loans scheme, Estia, is probably falling flat on its face; applicants need to complete 30 pages with their family income and property details and include 40 to 50 other documents.

Cyprus to strip citizenship of 26 investors

Cyprus is to strip 26 citizenships for people who obtained passports by investing including nine Russians, eight Cambodians, five Chinese, two Kenyans, one Iranian and one Malaysian.
Cyprus Finance Minister Harris Georgiades

Minister downplays citizenship scheme’s value

The importance of the Cyprus citizenship by investment programme, which was introduced when the Cypriot economy was in deep recession, must not be overestimated says finance minister.

Fugitive businessman holds Cyprus passport

Fugitive businessman Low Taek Jho, who holds a Cypriot passport and citizenship, has been described as a Malaysian conman sought by the authorities of Malaysia, Singapore, and the US.

Most POPULAR

Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.

Historic collapse of property sales

Property sales in Cyprus have collapsed as a result of the coronavirus pandemic to a level only seen once before when the events of March 2013 made Cyprus a household name around the world.

Building permits maintaining strong growth

The number of building permits authorised in Cyprus during February 2020 provided for the construction of 680 new homes; an increase of 18 per cent compared to February 2019 according to official figures.

Cyprus passport programme under fire again

The Cyprus citizenship by investment programme, which enables well-heeled foreigners to obtain an EU passport for investments of at least €2 million, has come under fire again from the European Union.

You have insurance but are you insured?

The heavy winter rains have resulted in many insurance claims but as many have found to their horror, although their insurance premium has been paid, they discover that they're not insured when they make a claim.