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Possible foreclosures law changes worry banks

Banks have expressed concerns over possible changes to the foreclosures law as they fear appeals could be stuck in the island's slow courts for many years negatively impacting their business.
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The long fight for a building permit

A frustrated citizen reports on his long fight with bureaucracy to get a building permit; he's whose been pushed from pillar to post, ignored, blamed for the delay and threatened if he went to the media.
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Building permits for more new homes in Cyprus

The number of new homes in Cyprus for which building permits were issued rose by 13.7 per cent in March 2019 compared to March 2018 according to the Cyprus Statistical Service.
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Cyprus real estate market review 2018

In its annual Cyprus real estate market review, PwC reports that the transaction value of the residential property sector reached €3.1 billion, which accounted for 73 per cent of the market total.
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Cyprus in court over waste water management

The European Commission has taken Cyprus to the European Court of Justice for its failure to properly treat urban waste water from agglomerations with a population of more than 2,000 inhabitants.
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Trapped buyers bill almost completed

A debate on an amended trapped buyers bill designed to overcome the shortfalls in the existing law is set to begin on Wednesday 12 June with the expectation that legislation will be enacted before the summer recess.
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Cyprus property sales surge in May

The number of Cyprus property sales surged in May 2019 reaching the highest number recorded since July 2008 according the official figures released by the Department of Lands and Surveys.
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Cyprus building & construction driven by passports

Although the years of austerity in the Cyprus building and construction sectors appear to be over, pundits believe that they remain heavily dependent on the passport for investment scheme.
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Cyprus strong growth momentum continues but…

Cyprus' economic expansion is set to remain robust, driven by domestic demand, but risks are tilted to the downside, according to the European Commission's spring 2019 economic forecast.
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Cyprus property sales at eleven year high

Cyprus property sales in April reached the highest monthly figure recorded since September 2008 following a 61 per cent surge according to official figures from the Department of Lands and Surveys.
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Solution for trapped buyers edging closer?

Amendments to the law designed to resolve the Title Deed mess by enabling trapped buyers who were duped into buying homes on land their developer had earlier mortgaged to the bank to obtain their Title Deeds are edging closer to a vote my MPs.
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Cyprus real estate investment: prospects & risks

The figures, trends and the state of the Cyprus real estate market over the last few years are a clear indication that Cyprus is becoming more and more interesting for property investors.
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EU reports Cyprus house prices up 3.5 per cent

House prices in Cyprus rose 3.5 per cent in the fourth quarter of 2018 and by 1.6 per cent year-on-year according to Eurostat, the statistical office of the European Union, in its latest news release.
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New homes in Cyprus up 15 per cent

The number of new homes in Cyprus for which building permits were issued rose by 15.1 per cent in January 2019 compared to January 2018 according to the Cyprus Statistical Service.
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Cyprus hotels pushing for Airbnb legislation

The Cyprus Hotel Association is pressing MPs to pass a bill regulating Airbnb type rentals that has been on the table for nearly a year to combat what hoteliers consider as unfair competition.
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Is the Cyprus property market softening? (Update)

There was a marginal fall in the number of Cyprus property sales during March compared to March 2018 according to official figures published by the Department of Lands and Surveys.
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Money to help Land Registry clear backlog

€3.6 million has been requested by the Interior Ministry to help clear the backlog of cases at the Land Registries involving Title Deeds, boundary disputes, etc. and to pay associated expenses.
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Limassol Aura high rise development

The construction of the 197 metre Aura high rise development in Limassol to be built on the present site of the Debenhams Olympia shopping centre on Limassol's coastal road should be completed by the end of 2022.
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Cyprus’ vulnerabilities remain significant

The European Commission notes that despite the recent improvement, Cyprus' vulnerabilities, which are mostly due to long-lasting stock-imbalances, continue to be significant.
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Compensation for Pissouri homeowners

The Government has finally agreed to pay compensation to residents in Pissouri whose homes have been damaged by the landslide and to undertake a study to see if the area can be stabilised.
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