Cyprus Property News for home buyers and real estate investors

Tuesday 22nd June 2021
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Delinquent developers ultimatum

The Bank of Cyprus is to offer a last chance to delinquent developers, including Leptos Estates, Aristo Developers, Pafilia Property Developers, to start repaying their debts or face the consequences.

Famagusta Developers found guilty in fraud case

Kypros Kyprianou and his company Famagusta Developers have been found guilty of double selling a property located near the Paralimni lake following an eight months court case.

Refunding developers’ Immovable Property Tax

Over the past few of weeks we have received literally dozens of emails from people who have received unreasonable demands for Immovable Property Tax (IPT) from their developers.

Property Developers: Run Forrest! Run!

If property developers fail to repay their bank loans, then the banks may not have sufficient funds to repay us the money that we deposited with them that they used to finance these loans.

Developers attract half billion of fresh money

Property developers have attracted half a billion Euros to Cyprus and the sector is one of the main areas attracting foreign investors according to the Interior Minister, Socratis Hasikos.

NPLs of 22 developers highlighted by Troika

Troika calls for the non-performing loans of the top 22 corporates and real estate developers to be dealt with by "Special Projects Division" within the Bank of Cyprus to get them performing again – or seize collateral.

Unpaid Immovable Property Tax from 32 developers

Politis, the Greek language newspaper, has listed the names of thirty two property developers who failed to pay their Immovable Property Tax to the Inland Revenue by the due date of 15th November.

Developers warned over Chinese market

Many Chinese people who have bought properties in Cyprus have felt cheated and complained according to Huali Che, president of the Chinese friendship association in Cyprus.

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