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Bank loans of up to €15,000 will be written off

Bank loans of up to €15,000 will be written off if low income borrowers can demonstrate their inability to service them under the provisions of the insolvency framework being discussed by the House.
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Foreclosures bill passed

The controversial foreclosures bill, a pre-condition of Cyprus receiving the next tranche of its bailout from the Troika, was passed by 47 votes at an extraordinary session of Parliament earlier today.
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Banks oppose interest rate regulation

A bill aimed at clamping down on banks that profiteer by arbitrarily increasing their margins has been rejected by the banks who argue that it will impede the execution of foreclosure procedures.
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Banks to target big borrowers first

Banks in Cyprus will not foreclose on homes belonging to vulnerable groups, the bank association said on Monday, as it sought to allay concerns ahead of a vote on a foreclosures bill at the end of this week.
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Immovable Property Tax reform a priority

The government must bring before the Parliament a bill reforming Immovable Property Tax legislation and another one introducing the Guaranteed Minimum Income before the end of June.
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Primary residence protection bill on hold

The House Legal Affairs Committee has decided to put the controversial primary residence protection bill on hold and it will probably not be discussed at a plenary session of the House on Thursday.
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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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Property tax for all

A bill proposing a revised property taxation system under which every home owner will pay according to the 1980 value of their property will be put before a plenary session of parliament later this week.
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Extra holiday to pass legislation on bank deposits

President Anastasiades may need extra time to get the deeply unpopular levy on Cyprus bank deposits through parliament and may have to declare Tuesday & Wednesday as public holidays to stave off a possible run on the banks.
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Government scraps property tax bill

The Cyprus Interior Minister, Socrates Hasikos, has announced that plans drawn up under the Christofias administration which aimed to raise €180 million by increasing Immovable Property Tax have been scrapped, for now.
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Town Planning Amnesty further extension agreed

A majority of Cypriot MPs have voted in favour of further extending period during which ‘Statements of Intent’ may be submitted under the provisions of the Town Planning Amnesty until the 30th April 2013.
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Transfer of development rights to be aided by new bill

Proposals designed to assist those whose properties are located in environmentally protected areas or that have been affected by public works involve transferring their development rights to another property.
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Perdikis to raise property law deficiencies in House

Cyprus MP George Perdikis is to question the House of Representatives over deficiencies in a law introduced last year that are preventing residents of leasehold properties Harbour Shore Estates at Coral Bay from getting their Title Deeds.
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Title Deeds hopes dashed by latest property legislation

Residents of the Harbour Shore Estates at Coral Bay, some of whom have been waiting for their Title Deeds for more than 30 years, have found that the new Specific Performance Law introduced last year may have ruined their chances.
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Legislation changes will not end Title Deed nightmare

The tardy, dishonest and purposefully complex manner in which Cyprus chooses to sell property will rebound explosively on those involved in the supply chain; the town planning amnesty will bring no peace.
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Summary of Cyprus planning amnesty laws revealed

The draughtsman of the original amendments to the Cyprus Immovable Property (Tenure, Registration and Valuation) Law provides a summary of the new laws that were approved by parliament last month.
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Commission tells Cyprus to lift property restrictions

The European Commission has acted to ensure that EU nationals have unrestricted access to buy a second home in Cyprus.
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Parliament blamed for Title Deed bills hold up

Neoclis Sylikiotis, the Cyprus Interior Minister, claims that a group of MPs are systematically trying to delay the progress of the Title Deed bills through parliament.
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Title Deed legislation will destroy property market

Rather than resolving the Cyprus Title Deeds-cum-fraud mess, the proposed legislation will destroy what vestiges of confidence remain in the Island's overseas property market and will possibly result in its collapse.
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Title Deed bill agreed by deputies

Details of one of the bills designed to resolve the Island’s Title Deed fiasco have been agreed by deputies. This will now be passed to the House of Representatives' plenum for approval.
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