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All reports tagged with: "property"

Banks buying properties failing to sell at auctions

The banks have bought nearly 650 properties that failed to sell at the first round of auctions since the start of 2018 according to information submitted to parliament by the Cyprus Central Bank.

Avoid mass selling of mortgaged properties

The Central Bank of Cyprus has warned the commercial banks to avoid the mass selling of mortgaged properties as it could lead to a sudden drop in real estate prices reports the Xinhua News Agency.

Rush for Cypriot passports before rules tighten

Foreigners are rushing to acquire Cypriot passports via the citizenship-by-investment scheme before the rules are tightened on 15th May according to a report in the Greek daily Phileleftheros.

Short-term lettings, real estate & tourism

Short-term Airbnb style property lettings will have a positive impact on the Cyprus real estate market and tourism industry, but balanced legislation is needed to ensure those positive impacts are achieved.

House repossessions at a low ebb

Although recent changes to the law have been made in efforts aimed at helping the Cyprus banking system to reduce high levels of NPLs, house repossessions are still at a low ebb according to Central Bank data..

Property news in brief

Over the past week a number of news reports concerning property in Cyprus have appeared in the local media about non-performing loans (NPLs), recent property deals and the bank of Cyprus.

High rents and homelessness

A rise in already high rents and an increase in the number of homeless people has led parliament to urgently call on the government to intervene and provide solutions to problems caused by high rents, especially in Limassol.

Owners of destroyed homes in Pissouri on BBC

Owners of devastated properties in the lakes (Limnes) area of Pissouri featured on the BBC One programme ‘Inside Out South’ broadcast on Monday 24th September 2018 at 19:30 (UK time)..

New repossession law hits brick wall

Legal hurdles to the new repossession law, which was introduced earlier this year, have arisen after local courts put the brakes on the supposedly faster process for banks to reduce non-performing loans (NPLs).

Glimmer of hope for Pissouri homeowners

There appears to be a glimmer of hope for homeowners affected by the devastating land slippage in the Limnes (lakes) area of Pissouri; they are hopeful that a solution may soon be found.

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