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All reports tagged with: "sale"

Banks to offload €4 billion NPLs

The Bank of Cyprus and the Hellenic Bank will sell non-performing loans (NPLs) worth €4 billion by the end of February enabling them to dispose of more than 10% of their problematic loans.

Overseas property sales drop 15%

Sales of property in Cyprus to the overseas market fell 15% in November in a continuing trend that started in June following the introduction of stricter criteria for foreigners seeking Cypriot citizenship.

Bank of Cyprus confirms Apollo NPLs sale

The Bank of Cyprus has announced that it has negotiated the sale of a portfolio of non-performing loans with a contractual balance of €5.7 billion to alternative investment manager Apollo Global Management LLC.

Apollo close to buying Cyprus NPLs

Apollo Global Management LLC is the preferred bidder to buy a non-performing loan (NPL) portfolio being sold by Bank of Cyprus Holdings Plc according to people with knowledge of the matter.

VAT on land sales agreement

Cyprus is to impose VAT at a rate of 19 per cent on land sales for commercial activities, which will be based on the Dutch model according to a report in the Greek language media.

Vote imposing VAT on land sales postponed

A vote by the Cyprus government on a bill to impose 19 percent VAT on land sales (building and development plots) has been postponed until September; the draft bill will be sent to the EC.

Hellenic Bank sells non-performing loans

The Hellenic Bank has sold its non-performing loan (NPL) and real estate management business, to APS Debt Servicing Cyprus Ltd, a member of the APS Holding a.s. group of companies.

BOC intends to sell restructured loans

The Bank of Cyprus intends to sell about €20 million worth of restructured non-performing loans of developers and construction companies to a small Cypriot bank according to reports.

Imposing VAT on land sales

Cyprus is facing hefty fines from the European Commission if it does not impose VAT on land sales, but the imposition of VAT will have knock-on effects on the property market and the banks.

Zyprus: Cyprus property portal

The Zyprus property portal, which enables those wishing to buy, sell or rent a property in Cyprus to make better-informed property decisions, is Cyprus’ answer to Zoopla in the UK and Zillow in the USA.

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