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Moody’s upgrades Cyprus’ rating

Moody's ratings agency has upgraded Cyprus' sovereign rating to Ba1 from Ba2 and changed its outlook to stable from...

Buying properties from banks or investment funds

After 2015, many properties passed into bank ownership, mainly through debt-to-asset swaps or foreclosures. Subsequently, some were acquired by credit...

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.

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.

Properties without Title Deeds give banks headaches

Developers who didn't follow the rules are giving the banks headaches as a number of repossessed properties and homes without Title Deeds are now re-entering the property market.

Cyprus banks awash with properties

Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.

Bank lending systems stymie Cypriot buyers

The Cyprus banks complicated lending procedures cause stagnation of property purchases by Cypriots according to the chairman of the Cyprus Real Estate Agents Association (SKEK).

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