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Cyprus banks awash with properties

Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.
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Bank of Cyprus sells NPLs to APS

The Bank of Cyprus has sold non-performing loans (NPLs) amounting to some €34 million to APS, part of the APS Holdings group, which is also handling the Hellenic Bank’s portfolio of bad debts.
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Clouds gathering over the Cyprus economy

Risks, driven by world economy deceleration, Brexit as well as Cyprus' domestic challenges are clouding the medium-term outlook of the Cypriot economy, an economic conference has heard.
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EU citizenship schemes need full transparency

Cyprus has been told that all EU citizenship schemes need to have full transparency and Brussels has deployed experts to ensure these schemes prevent tax evasion, money laundering and security threats
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Ayia Napa golf course plans rejected

Plans to build a golf course at Ayia Napa have been given the thumbs down by the Environmental Department as it will have significant negative and irreversible effects on the environment.
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Passport-for-sale schemes pose crime risks (Update)

The EU says that passport-for-sale schemes by Malta, Cyprus, and Bulgaria pose risks of infiltration of non-EU organised crime groups in the economy, money laundering, corruption and tax evasion.
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Cyprus house prices rise 0.2 per cent

The Cyprus house price index (HPI) rose by 0.2 per cent in the third quarter of 2018 and by 1.7 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).
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Affordable housing on political agenda

Sky-high rents have put affordable housing on political agenda with the government drafting a new housing policy in efforts to persuade the construction sector to build cheaper apartments.
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Top ten Cyprus property stories in 2018

Cyprus property news has attracted more than 850,000 visitors in 2018 and here is a summary of the top 10 most popular stories, which include articles and news about Title Deeds, swimming pools, taxation, etc.
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Fighting for Pissouri landslide victims

The lawyer acting for the victims of the landslide in the Limnes area of Pissouri has called on the government to stop pretending, admit there is a landslide and compensate those affected.
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KPMG Cyprus real estate report

KPMG's 'Cyprus Real Estate Market Report – The Insights', now in its ninth edition, provides an overview of the Cypriot economy and assesses the performance of the real estate sector.
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Pension Christmas present from HMRC

Amendments to the 2018 Double Taxation Convention between the UK and Cyprus allow those in receipt of Government service pensions to choose whether to pay tax on that pension to the UK or Cypriot authorities.
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Cyprus property price index Q2 2018

The RICS Cyprus Property Price Index for the second quarter of 2018 reports that residential prices for houses and apartments increased by 1.3% and 2.1% respectively on a quarterly basis.
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Limassol plans low-cost housing units

Plans by the Limassol Municipality to build 500 low-cost housing units in Ayios Nicolaos and Ayios Ioannis to address the high rent problem in the city have been supported by the Interior Ministry.
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Property news in brief

Over the past week a number of news reports concerning property in Cyprus have appeared in the local media about non-performing loans (NPLs), recent property deals and the bank of Cyprus.
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High rents and homelessness

A rise in already high rents and an increase in the number of homeless people has led parliament to urgently call on the government to intervene and provide solutions to problems caused by high rents, especially in Limassol.
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Is it safe to buy property in Cyprus?

"Is it safe to buy property in Cyprus?" is a question I'm constantly being asked and although changes to the law in recent years have improved the situation, some buyers are still at risk.
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High rise developments in jeopardy

Property developers consider that the construction of high rise developments is at risk as a new law requires comprehensive environmental studies to be submitted, which will lead to long delays.
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Cyprus real estate sector looking up

Cyprus' real estate sector is continuing to thrive, building on the upward trend of previous years, with experts confident that sales transactions for 2018 will peak at an eight-year high.
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Cyprus let off the hook

Following Cyprus' action to abrogate the law requiring lawyers to charge a minimum fee for out-of-court work, the EC has closed infringement proceedings against Cyprus and an antitrust investigation.
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