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All reports tagged with: "problem"

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.

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.

Probe into sharp rent rises

The House Interior Committee is to look into the sharp rises in rents amid reports of a family has been made homeless because rents are too expensive and another evicted so the landlord could triple the rent.

NPLs remain problematic says IMF

The high level of non-performing loans (NPLs) remain a problem for the Cyprus banking sector despite the strong growth boosting the island’s economy says the IMF representative in Cyprus.

Citizenship for sale controversy

The Cyprus property market could be hit by a fall in property prices if investors granted a Cypriot passport under the citizenship-for-sale scheme decided to sell their property after three years.

Non-performing loans will take time to resolve

The problem of non-performing loans will take some time to resolve due to the complexity of the problem said the Cyprus Central Bank’s Governor speaking before a parliamentary Committee.

Local authorities obstructing Title Deeds

Local authorities are preventing the Land Registry from issuing Title Deeds to trapped buyers by refusing to issue Certificates of Approval for properties suffering from trivial planning infringements.

Law changes would curb illegal holiday rentals

Massive losses of tax revenue, health and safety issues and illegal holiday rentals could be reduced if the law enabled more homeowners to register their properties with the Cyprus Tourism Organisation.

Hidden mortgage breakthrough

Interior Minister Socratis Hasikos has announced that the government intends to introduce legislation to resolve the ‘hidden mortgage’ problem that leaves thousands of buyers unable to get Title Deeds.

“The problem is huge” says director

No-one knows precisely how many properties that are burdened with a developer’s mortgage have been sold to unsuspecting buyers, but the problem is huge says the Director of the Department of Lands and Surveys.

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