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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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Lower VAT on land bought for primary residence

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.
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MPs table bill to tax Airbnb-style rentals

A bill to regulate and tax the income on short-term Airbnb-style property rentals has been tabled by two MPs and should go before the plenum prior to the parliamentary summer recess.
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Government striving for Title Deeds solution

The Cyprus government is trying to expedite a resolution to the Title Deeds-cum-fraud mess in which people were duped into buying property built on land that the developer had earlier mortgaged to the bank.
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Another stab at resolving the Title Deeds mess

The Cyprus government to take another stab at resolving Title Deeds mess created by nefarious developers who duped people into buying mortgaged property as the law passed in 2015 failed to fully address the problem.
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Title Deed applications exceed 8,000

More than 8,000 trapped buyers of property in Cyprus have applied for their Title Deeds under the provisions of the ‘hidden mortgage’/'trapped buyers' law that was introduced last September according to the Cypriot Interior Ministry.
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Hourican disappointed by shenanigans

John Hourican, the outgoing CEO of the Bank of Cyprus said he was disappointed by the 'shenanigans' of lawmakers that delayed and diluted laws aimed at helping banks collect on a huge number of non-performing loans.
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Cabinet gives the nod to fourth insolvency bill

Yesterday the Cyprus Council Ministers (Cabinet) approved the fourth of five bills comprising the insolvency framework designed to update and amend the personal and corporate bankruptcy laws.
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Foreclosures law to Troika

President Anastasiades is to speak with European leaders and officials in efforts to gain their understanding and support for the foreclosures law that was passed by parliament on Saturday.
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Foreclosure bill bunfight continues

The debate in the Cyprus parliament on the controversial foreclosure bill continues with opposition parties refusing to support the bill in its present form and calling for a series of amendments.
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Troika push repossessions bill

The Troika has indicated that if Cyprus fails to introduce legislation to ease the procedures for property repossessions, it could jeopardise the release of the next tranche of the bailout.
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No more escape for tax cheats

Those with tax arrears exceeding €3,000 will be prevented from selling or transferring their property under a new law passed by the Cyprus government to help with the crackdown on tax evasion.
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Getting your Title Deed issued

Those waiting for the all-important Title Deed to be issued for the property they purchased can request the Land Registry to issue its deeds, providing a Certificate of Approval for the property has been issued.
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Swiss Franc loan time bomb defused

The transition period provided for in the Statute of Limitation law that Cyprus introduced in 2012 and which was extended by six months in May has now been extended by a further 12 months.
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New law enshrines rent reductions

Despite opposition to any rent control legislation and warnings that it would create new distortions in the market, the government passed a law last evening aimed at reducing rents.
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Cyprus Property Action Group report

In its latest update, the Cyprus Property Action Group (CPAG) says that as a result of the persistent lobbying of the European Union and MEPs that changes will come about to resolve the problems in the island's property industry.
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MEP calls for Cyprus land law reform

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.
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Efforts to combat illegal real estate agents stepped up

Court orders have been issued against a number of unregistered estate agents in Cyprus, some of whom appear to be British, to stop them from practising until a final adjudication of their cases has been made.
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Almost one in four properties are co-owned

Twenty four percent of properties in Cyprus, about 274,000, are co-owned of which the majority are located in Famagusta according to information received by MP Ionas Nicolaou of the DISY party.
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Transfer fee abolition/reduction law published at last!

After nearly a month since MPs voted unanimously to abolish/reduce Property Transfer Fees for a period of six months, the amended law has finally been published in the Cyprus Government Gazette.
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