The Greens have hit out at a "scandal brewing in Paphos", with roots in the past, concerning land earmarked for green areas, which the developer wants to sell to the Bank of Cyprus to clear debts.
Many millions of Euros worth of Cyprus property in all the districts comprising houses, apartments, commercial properties and plots of land and fields land are set to go under the hammer in June.
Purchasers of undeveloped land to build an owner-occupied primary dwelling may soon be able to obtain a partial VAT refund if a bill currently being prepared by government is approved.
Around 3,000 foreclosures have been pending at Land registries and thirty auctioneers are polishing their hammers to begin auctioning commercial buildings, holiday homes, and land owned by large debtors.
One of the suspects in the Aristo fraud case has admitted forging a Land Registry document but claimed that he was under instructions by his superiors and that this was standard practice.
The UK Government has signed an arrangement with the Cyprus Government giving residents increased flexibility to develop private property within the British Sovereign Bases.
The cabinet has decided to appoint an investigative committee to look into the purchase of Turkish Cypriot land in Larnaca following an angry row between the present and former Interior Ministers.
During his review of the Cyprus presidency of the European Union, Sir Graham Watson MEP called for a reform of the island's land laws and the establishment of a banking ombudsman.
Cyprus may soon be welcoming a number of property developers from China who are planning to buy land on the island or work with local property developers to build homes for Chinese families.
Britain will review its military bases in Cyprus as it seeks to extract maximum value from a shrinking defence budget, Defence Secretary Liam Fox said in a statement to the UK parliament on Tuesday.
