Parliament on Friday voted into law two bills and approved regulations aimed at tightening Cyprus' citizenship by investment programme.
One of the laws was passed...
There appears to be a glimmer of hope for homeowners affected by the devastating land slippage in the Limnes (lakes) area of Pissouri; they are hopeful that a solution may soon be found.
Residents who claim that vibration caused by the construction of a high-rise development in Limassol has damaged their block of nearby flats have been given 15 days to evacuate the building.
Property rents in Limassol have increased by around 25 per cent over the past two years, much higher than other cities in Cyprus resulting in many locals being priced out of the market.
Property owners in the devastated lakes (Limnes) area of Pissouri are still waiting for the government to fulfil its promise to pay for sorting out the mess caused by land slippage in the area.
The Limassol high-rise development known as 'Blue Marine' has been given the go ahead by the cabinet despite a ruling handed down by a judge in favour of owners & the Municipality who raised objections.
A further five high-rise towers are set to line the Limassol coast road; the 'Trilogy' project by Cybarco next to Enaerios and the 'Blue Marine' project by Leptos next to the Limassol marina.
Demand for rental properties in Limassol has grown in recent years as local buyers have difficulty in obtaining home loans due to the banks' stringent loan conditions and because it attracts plenty of foreign businessmen.
The Cypriot authorities have assured that fire safety measures are in place to tackle skyscraper disasters following concerns arising from the Grenfell tower disaster in west London.
