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Bills rewarding bad borrowers may pass

The bills rewarding bad borrowers by exempting them from paying income tax, capital gains tax, property transfer fees, stamp duty and the special defence contribution are expected to pass.

MPs table bill to tax Airbnb-style rentals

A bill to regulate and tax the income on short-term Airbnb-style property rentals has been tabled by two MPs and should go before the plenum prior to the parliamentary summer recess.

Limassol rent price protest

Around 1,000 Limassolians and others are expected to gather outside the Limassol District Administration Offices in Anexartisias Street to protest against the exorbitant rent prices in the town.

Reward bad borrowers; punish the good

In a move, which if successful, will result in rewarding bad borrowers while punishing the good, the Cyprus parliament is expected to vote on proposals granting tax relief to bank debtors by July.

Speeding up issue of Title Deeds

The Cyprus government is ready discuss ways to reduce the time taken to issue Title Deeds, which has tarnished the reputation of Cyprus as a safe place to buy property by overseas investors.

Four more high rise buildings in Limassol

Pafilia property developers are planning to build four high rise residential towers in Limassol of 43, 38, 31 and 25 storeys next to Limassol Municipal gardens, the tallest of which will reach 173 metres.

Cyprus running out of time to reduce NPLs

Pressure is mounting on the Cyprus banks to reduce non-performing loans (NPLs) and proposals put forward by the Finance Ministry could also fix areas in the law affecting the issue of title deeds from indebted developers.

REMU debt to asset swaps increasing

Increasing numbers of properties in Cyprus including homes, hotels and golf courses are being transferred to the Bank of Cyprus Real Estate Management Unit (REMU) by debt to asset swaps.

Another high rise development in Limassol

The Shacolas group is planning to demolish the Debenhams Olympia centre in Limassol to make way for the 197 metre high rise Aura development of luxury apartments that will be the tallest in Cyprus.

U-turn on crocodile park

The decision by Achna council to withdraw its support for the crocodile park has been greeted with great relief by the local residents who had opposed the park according to reports.

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