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16th April 2024
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Building contractors plea for state support

Costas Roushias, the president of the Federation of Associations of Building Contractors Cyprus (OSEOK), has called on President Anastasiades for an 11th hour rescue of the sector.
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Government plans to offer homeowner rescue scheme

The House Human Rights Committee has heard that the Cyprus government is planning to offer a rescue scheme to help homeowners who are unable to maintain their mortgage repayments.
News

Property tax bill approved by parliament

A majority of Cypriot MPs have approved an amended bill to increase the rate of Immovable Property Tax, which is part of the preliminary agreement between Cyprus and its international lenders.
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Property tax bill about-turn

Following representations from hoteliers, property developers and others the government is rethinking its property tax bill which aimed to raise €180 million; €120 million more than suggested by the troika.
News

Cyprus draft bailout conditions leaked

The draft MoU between the government and the Troika is in the public domain. We summarise the specific points in the Memorandum of Understanding relating to the housing market and immovable property regulation & taxation.
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Banking system comes under scrutiny

The promotion of foreign currency loans without advising borrowers of the currency risks is one of the topics being investigated by the House Institutions Committee as it scrutinises the functioning of the banking system.
News

Contractors left unpaid for government projects

As the government's coffers run dry it has no money left to pay companies that have completed construction projects and who are suffering from cash-flow problems and who may be forced to lay off staff.
News

High-ranking officials accused of abusing state housing

A Cypriot MP has said that government housing in Troodos is being "scandalously" abused by high-ranking state officials, while some properties have been sub-let to the private sector at 'outrageously low' rates.

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