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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.

Property auction process may get harder for banks

Opposition parties trying to introduce legislation designed to slow down the property auction process by introducing twelve points, but have yet to get the required majority for it to pass.

Help for some Pissouri landslide victims

The Cyprus Government has promised to provide some financial assistance to a number of Pissouri landslide victims, which is currently affecting about one million square metres southwest of the village centre.

Call for action over sky-high rents

As rents in Cyprus reach new heights with every passing month, pressure is building on the government to take affirmative action to ensure affordable accommodation for working families.

Trapped buyers bill almost completed

A debate on an amended trapped buyers bill designed to overcome the shortfalls in the existing law is set to begin on Wednesday 12 June with the expectation that legislation will be enacted before the summer recess.

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