Cyprus Property News for home buyers and real estate investors

Tuesday 3rd August 2021
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Non-Performing Loans

700 borrowers unviable for Estia relief scheme

A total of 700 borrowers with non-performing loans (NPLs) amounting to about €173 million were deemed non-viable for loan subsidisation under the Estia scheme,...

Managing toxic loans outside the banking system

Terms like "non-performing loans", "foreclosures", "loan sales" entered our lives in the last decade as a result of the global financial crisis, as well...

Bad bank would reduce debt mountain

Economists have welcomed the idea of creating a state-owned bad bank to help the banking system offload toxic loans to focus on supporting a...

NAMA Mia! Here We Go Again (reprised)

The Cyprus government is looking to establish a 'bad bank' or NAMA (National Asset Management Agency) by transforming the Cyprus Asset Management Company (KEPIDES). A...

Plans to create ‘bad bank’ for non-performing loans

The government has set in motion plans to create a 'bad bank' to relieve the Cyprus banking system of an excess of Non-Performing loans,...

Cash-rich banks stockpiling real estate

Cash-rich banks are stockpiling properties as they turn to buy real estate linked to mortgages of defaulted borrowers as banking institutions dominate the property market.

Banks to offload €4 billion NPLs

The Bank of Cyprus and the Hellenic Bank will sell non-performing loans (NPLs) worth €4 billion by the end of February enabling them to dispose of more than 10% of their problematic loans.

Estia applicants hit 50% of eligible borrowers

Applications for the Estia programme, which aims to assist home owners with non-performing mortgages by providing government support, have been submitted by more than 50 percent of those eligible.

First auction of foreclosed properties

The first online auction of foreclosed properties will be held Wednesday morning kicking off at 10:00 and continuing for two hours unless a one-hour extension is granted when 16 properties will go under the hammer.

BoC to repossess non-Estia protected properties

The Bank of Cyprus (BoC) will repossess properties if their owners do not apply for protection under the Estia scheme; it's only received 487 applications from an estimated 2,500 eligible owners.

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