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Latest News & Updates

55% of borrowers facing foreclosure reach restructuring deals

More than 71,600 borrowers in Cyprus have had their loans transferred to credit acquisition and servicing company portfolios since...
Legal Matters

Cyprus MPs’ last push to halt property foreclosures

House of Representatives is preparing a last-ditch effort to suspend mass property foreclosures before it dissolves in mid-April, as...
Legal Matters

Foreclosure court frozen as borrowers remain unprotected

Two years after Parliament authorized the establishment of a dedicated Foreclosure Court, the heralded reform exists largely in name...
Latest News & Updates

Repossessed homes auctioned at 27% below market value

The final quarter of 2024 brought sobering news for the Cyprus property market, particularly for the owners of homes...
Legal Matters

Foreclosure court ruling may impact thousands of properties

The Nicosia District Court has issued a landmark ruling that may have far-reaching consequences for tens of thousands of...
Latest News & Updates

Trapped Buyers resolution formula being reviewed

The new formula designed to help as many Trapped Buyers as possible to get Title Deeds has been handed...
Latest News & Updates

Trapped buyers property foreclosures paused

On Friday, the Cyprus parliament received assurances from KEDIPES and the Association of Credit Acquisition Companies and Credit Facility...
Legal Matters

Landmark ruling in property foreclosure case

On Thursday, the Cyprus Supreme Court issued a landmark ruling in a high-profile property foreclosure case, marking its first...
Latest News & Updates

Check your Title Deed for problems!

The Immovable Property Law, CAP. 224, prohibits the registered owner of a property (i.e. the name of the owner...
Title Deeds

Solutions prepared for trapped buyers

Efforts are underway to resolve the issue of trapped buyers, Interior Minister Constantinos Ioannou said on Wednesday at the...
Legal Matters

Primary residences going under the hammer increasing

The number of primary residences going under the hammer has risen sharply since the second quarter of 2024, following...
Legal Matters

Trapped buyers still saddled with developers’ debts

This week, the Cyprus Borrowers Association (Syprodat) expressed "disappointment, discouragement, and a sense of failure" on behalf of trapped...
Legal Matters

Foreclosure bills passed into law

President Nikos Christodoulides heralded the bundle of bills voted into law in parliament tackling foreclosures on Friday, saying it...
Legal Matters

Voting this week on foreclosure legislation

Government legislation affording extra protections to distressed borrowers with their homes on the line will go the plenum for...
Legal Matters

Foreclosures laws to be discussed in parliament

Today marks a crucial development in the landscape of property foreclosures as the Parliament is set to deliberate on...
Legal Matters

Foreclosures saga gets ugly

The foreclosures row rumbles on as the latest episode in the saga played out when parliament voted against two...
Latest News & Updates

Numerous foreclosure sales expected

Approximately 6,000 foreclosure sales per year are anticipated to take place in 2023 and 2024 due to the large...
Latest News & Updates

Freeze on home repossessions defeated

A motion to discuss a new freeze on home repossessions was defeated in parliament on Thursday, with the House...
Legal Matters

Mortgage-to-rent scheme launched

The Mortgage-to-Rent scheme, the latest lifeline thrown to defaulted borrowers, is going ahead, as KEDIPES, the state-owned Asset Management...
Legal Matters

Expect many foreclosure notices today

Yesterday, Tuesday, January 31, 2023, marked the end of the most recent three-month suspension of divestments imposed by a...
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