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All reports tagged with: "property"

Applications for residency on the rise

Applications by third country nationals for residency permits over the last two years have resulted property sales valued at around €270 million with another €27 million deposited in local banks.

Revised Cyprus EU bailout terms leaked

Update 4th April 2013 – The revised Memorandum of Understanding between Cyprus and the EU has been leaked to the press and appeared exclusively in today’s edition of the Greek language newspaper Phileleftheros.

PIMCO’s worst case assumes 65% property devaluation

In its worst-case scenario, where the Cyprus banking system would require €10.1 billion for its recapitalisation, PIMCO assumes a devaluation of properties by up to 65 per cent according to informed sources.

Great Cyprus property crash continues in 2013

Property sales in Cyprus are on course to set an all-time record low in 2013 with sales in January down by more than 50 per cent on the corresponding month last year, posting the lowest monthly figure on record.

Law changes encourage overseas investment

With the aim of attracting investment into Cyprus from countries outside the EU, citizens of those countries may now acquire more than one dwelling providing that certain criteria and conditions are met.

Our top 10 stories from Cyprus in 2012

The most read article published in Cyprus Property News over the past twelve months was that a group of British buyers had won the right to have their cases against their Paphos-based developer heard in the UK.

Fraudulent property scheme of biblical proportions

British home buyers have filed a class action against the ‘Turkish Republic of Northern Cyprus’ and the HSBC claiming they are victims of a fraudulent property scheme of biblical proportions.

Do not ignore Cypriot bank writs for loan non-payment

If you receive a writ from a bank in Cyprus for the non-payment of a housing loan / mortgage or a termination notice, the worst thing you can do is bury your head in the sand in the hope that the problem will go away.

Bill to repossess homes put on the backburner

The Interior Ministry has informed parliament that a bill enabling mortgaged properties to be repossessed and auctioned off has been “suspended indefinitely due to the economic crisis.”

Protest at ‘A Place in the Sun Live’ property exhibition

A group of property buyers continued to raise awareness of the problems associated with buying property in Cyprus by holding a peaceful protest outside the ‘A Place in the Sun Live’ exhibition at Earls Court.

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