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Cyprus rent increase ceiling lowered

By Alan Lawton
Housing crisis exacerbated by permits approval

A RECENT decision by the Council of Ministers has lowered the ceiling on rent increases from 14% every two years to 8%.

The last date for landlords to impose a 14% increase on rent contracts was Wednesday, April 22.

The Cyprus Land and Property Owners Association (KSIA) said this was an unfair decision and one that the government had not discussed with the association. Its members are determined to seek legal measures to ensure their rights.

Copyright © 2008 Financialmirror.com

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