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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.

Affordable housing scheme starts next month

The government’s affordable housing scheme for low-income families will kick in next month with Cypriot citizens and other EU nationals residing in Cyprus for the past five years being eligible to apply.

Delay vote on foreclosure law changes MPs urged

The Finance Minister and the banking industry have urged MPs to delay voting on changes to foreclosure law at least until we have a picture on whether the Estia debt relief scheme delivers.

Estia scheme for vulnerable homeowners approved

The cabinet has approved the debt relief scheme (Estia) designed to support and protect vulnerable homeowners; eligible borrowers will apply in September – first payments expected in December.

Cyprus amongst worst offenders in corruption report

Cyprus was among countries that have not fully complied with any of the Council of Europe’s anti-corruption body’s GRECO recommendations according to a GRECO report issued on Tuesday.

Possible foreclosures law changes worry banks

Banks have expressed concerns over possible changes to the foreclosures law as they fear appeals could be stuck in the island’s slow courts for many years negatively impacting their business.

The long fight for a building permit

A frustrated citizen reports on his long fight with bureaucracy to get a building permit; he’s whose been pushed from pillar to post, ignored, blamed for the delay and threatened if he went to the media.

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