Cyprus Property News for home buyers and real estate investors

Saturday 6th March 2021
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Developers seek to self-finance projects

Property developers are looking to self-finance construction projects due foreign investors fearing possible difficulties obtaining Title Deeds if developments are mortgaged and banks imposing stricter criteria for granting loans.

How many trapped buyers?

Earlier today the Greek language newspaper ??????? (Daybreak) published statistics on the number of trapped buyers unable to get their Title Deeds because of various unpaid developer debts.

“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.

Cyprus major tax debtors list

Cyprus Finance Minister Haris Georgiades' list of the top 50 tax debtors includes property developers, large football clubs and hoteliers and has been published in the public interest by Stockwatch.

Non-performing loans continue to mount

Latest information released by the Cyprus Central Bank shows that non-performing loans continue to mount with property developers having amassed billions of debts that they are unable to repay.

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