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Non-performing loans (NPLs) initiative

Following comments from the troika on the extremely high levels of non-performing loans (NPLs) the Cyprus government is preparing proposals to improve the insolvency and foreclosure laws.
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Cyprus house prices up 2.7 per cent

The Cyprus house price index (HPI) rose by 2.7 per cent in the fourth quarter of 2017 and rose 2.4 per cent on an annual basis according to a preliminary estimate by the Statistical Service.
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Cyprus construction NPLs highest in Europe

The percentage of non-performing loans (NPLs) linked to the Cyprus construction industry are the highest in Europe according to a press release issued by the European Banking Authority.
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Land Registry & Property Transfer Fees

In Cyprus, Property Transfer Fees are the local equivalent of the UK's Stamp Duty Land Tax (SDLT), is a tax that is paid by a purchaser when they buy property or land; so why are so many people complaining?
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January new home permits up 25 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 24.9 per cent in January 2018 compared to January 2018 according to the Cyprus Statistical Service.
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Impressive growth in Cyprus property sales

The impressive growth in Cyprus property sales continued in March with the number of properties sold rising in all districts (with the exception of Famagusta) according to the Department of Lands and Surveys.
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Energy saving grant scheme

There are opportunities for those living in Cyprus permanently to increase the energy saving of their homes through the "I Save I Upgrade" grant scheme, which is co-funded by the European Union and the Cyprus Government.
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Call to reduce non-performing loans

The International Monetary Fund (IMF) has called on the Cypriot authorities to amend the foreclosures and insolvency laws to tackle the very high level of non-performing loans (NPLs).
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High-end Cyprus property sales boom

PwC Cyprus reports that 260 high-end properties in Cyprus (in excess of €1.5 million) were sold during 2017, which contributed to the wider recovery of the real estate industry and the rise in prices for the first time in several years.
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Cyprus Property Transfer Fees and VAT

MPs in Cyprus are planning to revise Property Transfer Fees and the VAT paid on land sales to eliminate distortions in the Cyprus property market, which they believe is adversely impacting competition.
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Limassol in top 100 world cities

Limassol is amongst the top 100 cities of the world according in the 'Quality of Living Index' produced by Mercer, one of the world’s largest HR consultancy firms, that evaluated local living conditions in more than 450 cities.
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Paphos marina decision soon

A decision on Paphos marina, which has been stalled by bureaucracy and delayed by legal battles since an initial study was carried out almost 30 years ago, is due to be made in the coming weeks by a new committee appointed by the Council of Ministers.
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Measures to tackle non-performing loans

The Commission is today proposing an ambitious and comprehensive package of measures to tackle non-performing loans in Europe, capitalising on the significant progress already made in reducing risks in the banking sector.
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Pissouri homeowners running out of hope

Property owners in the devastated lakes (Limnes) area of Pissouri are still waiting for the government to fulfil its promise to pay for sorting out the mess caused by land slippage in the area.
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Permits for new homes down 18 per cent

The number of new homes in Cyprus for which building permits have been issued fell by 18.1 per cent in December 2017 compared to December 2016 according to the Cyprus Statistical Service.
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Strong growth in property sales (Update)

The strong growth in Cyprus property sales continued in February with the number of properties sold rising in all districts (with the exception of Larnaca) according to official figures.
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Citizenship schemes pose major corruption risk

Citizenship and residence-by-investment schemes, commonly referred to as ‘Golden Visa’ programmes, are vulnerable to abuse and undermine the fight against corruption in the European Union.
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Strong growth in Cyprus property prices

The RICS Cyprus Property Price Index for Q3 2017 reports strong growth in property prices across the island with an annual increase of 7.4% in apartment prices and a 4.2% increase in house prices.
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Citizenship scheme shrouded in secrecy

Transparency in the ‘Citizenship by Investment Scheme’ aka ‘Golden Visa Program’ aka ‘Passports for Cash Scheme’ will remove the veil of secrecy and silence those accusing Cyprus of trading in naturalisations.
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Pitfalls to avoid when buying property in Cyprus

To help prospective buyers avoid making costly mistakes, Charles Savva outlines the top 10 pitfalls to avoid when buying property in Cyprus and how to ensure that property purchases move forward smoothly and efficiently.
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