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Foreclosure changes may have consequences

The Finance Minister has warned that Cyprus may face consequences over changes to the foreclosure legislation passed by parliament on Friday and has urged President Nicos Anastasiades to veto the bills.

MPs freeze foreclosures despite warnings (update)

Despite MPs being warned that changing the foreclosures legislation would have negative repercussions on the banks and the economy, MPs have voted to change and suspend the legislation.

New trapped buyers bill vote tomorrow

A revised ‘trapped buyers’ bill designed to overcome the problems of the current law, which was introduced in 2015, and enable thousands of trapped buyers to get Title Deeds will be put to a vote tomorrow.

Paphos marina to have cruise ship facilities?

A proposal to look at the possibility of including cruise ship facilities as part of the proposed Paphos marina at Kissonerga Potima Bay was given a positive reception at a meeting earlier today.

Larnaca new high-rise tower projects

In Larnaca, some 20 – 30 high-rise residential developments and hotels ranging from 10 to 30 stories are in the pipeline with construction expected to begin over the coming years.

Cyprus NPL ratio second highest in EU

The Cyprus banks have the second highest Non-Performing Loan (NPL) ratio in the European Union after Greece, according to the European Banking Authority (EBA) ‘Risk Dashboard’.

Banks buying properties failing to sell at auctions

The banks have bought nearly 650 properties that failed to sell at the first round of auctions since the start of 2018 according to information submitted to parliament by the Cyprus Central Bank.

MPs in new bid to help trapped buyers

A revised draft bill to help trapped buyers to finally get the Title Deed for the property they purchased will go before the House Legal Affairs Committee next week so that the bill can go the plenary on 12 July

Pissouri sunshine dreams in ruins

17 families evicted in Pissouri Village, where at least 70 houses are collapsing; desperate victims have pleaded with the Cypriot government to help; British High Commission is talking to the Cypriot government about a solution.

Cyprus property news recovers after attack

Cyprus Property news has fully recovered following what is thought to be a DOS or a dDDOS attack that flooded the CPN server with traffic, which eventually resulted in it crashing; no data was compromised.

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