Cyprus Property News Magazine

Trapped buyers could lose their homes

May 26 2017

The Limassol and Paphos District Courts in Cyprus have both ruled that the trapped buyers' law, which enabled those duped into buying property built on mortgaged land to get their Title Deeds, is unconstitutional.

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Optimism in the construction sector

May 24 2017

The future of the island's construction sector is optimistic, but repeating the illegal and short-sighted practices of the past will have extremely negative consequences on everyone.

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Property prices rising says RICS

May 18 2017

Cyprus property prices are continuing to rise, with significant increases in Larnaca, Limassol and Nicosia, according to the twenty-ninth edition of the RICS (Cyprus) Property Price Index.

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Larnaca marina and port progressing

May 16 2017

The process of preselecting the successful bidder for the construction of the new Larnaca marina and port should be completed by the end of this week according to the Minister for Communications and Works.

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BOC intends to sell restructured loans

May 16 2017

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.

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Small drop in non-performing loans

May 12 2017

Although non-performing loans had fallen by €180 million at the end of January compared to the previous month, as a percentage of total loans the figure remained the same at 47.2 per cent.

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Imposing VAT on land sales

May 9 2017

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.

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Loan deal for heat-proofing roofs

May 8 2017

A special loan deal for heat-proofing roofs of up to €10,000 at 3 per cent interest is to be offered by the Co-operative Central Bank in collaboration with the employers' association (OEV).

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More new homes under construction

May 8 2017

The number of new homes in Cyprus for which building permits have been issued rose by 22.8 per cent in February 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.

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Slight fall in property sales (Update)

May 4 2017

The number of property sales in Cyprus fell slightly in April compared to the numbers sold in April 2016 with increases in Nicosia, Limassol and Paphos wiped out by falls in Larnaca and Paphos.

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