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Cyprus plans asset management company

Nearly five years after the troika of Cyprus’ international lenders proposed that the country establish an asset management company to help reduce the high level of NPLs, Cyprus will present plans for an AMC in Brussels next week.
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Decision on Paphos marina urged

George Stylianou, the community leader of Kissonerga village, has urged the government to make a decision as soon as possible over the long awaited Paphos marina that has effectively been in limbo since 2008.
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New home building permits up 93 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 93.0 per cent in November 2017 compared to November 2016 according to the Cyprus Statistical Service.
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Property sales make a good start

Cyprus property sales continued their upward trend in January with the number of property sale contracts deposited at Land Registry offices rising compared with January 2017 according to official figures.
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Calculating communal fees

Communal fees are required to pay for the insurance, maintenance and repair of apartment buildings in Cyprus and other types of building complexes that contain common areas and shared facilities.
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Cyprus house price index falls 0.3 per cent

The Cyprus house price index (HPI) fell by 0.3 per cent in the third quarter of 2017 but rose 0.6 per cent on an annual basis according to a preliminary estimate by the Statistical Service.
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Larnaca port and marina contracts

Contracts for the Larnaca port and marina project are expected be signed later this year according to Marios Demetriades, the Cyprus Minister of Transport, Communications and Works.
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New home building permits up 41 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 41.4 per cent in October 2017 compared to October 2016 according to the Cyprus Statistical Service.
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Paralimni marina contracts signed

Contracts for the construction of the Paralimni marina have been signed; with an estimated capacity of 300 vessels and at a cost of €110 million, the marina is expected to be fully operational by mid-2021.
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2017 a better year for property sales (Update)

For the fourth consecutive year Cyprus property sales rose during 2017 according to the latest official statistics published earlier today by the Department of Lands and Surveys in Nicosia.
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Paphos marina appeal upheld

The twenty seven year saga of the Paphos marina continues following a ruling by the Supreme Court that the committee responsible for overseeing the marina tender process is unlawful.
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Row over Limassol high-rise development

The Limassol high-rise development known as 'Blue Marine' has been given the go ahead by the cabinet despite a ruling handed down by a judge in favour of owners & the Municipality who raised objections.
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Cyprus property taxes in 2018

A number of changes to Cyprus property taxes have been made in recent times, most notably the introduction of VAT on the sale of building land, which I have summarised together with other changes in this article.
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NPLs remain problematic says IMF

The high level of non-performing loans (NPLs) remain a problem for the Cyprus banking sector despite the strong growth boosting the island's economy says the IMF representative in Cyprus.
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More high-rise towers for Limassol

A further five high-rise towers are set to line the Limassol coast road; the 'Trilogy' project by Cybarco next to Enaerios and the 'Blue Marine' project by Leptos next to the Limassol marina.
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New home building permits up 25 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 25.3 per cent in September 2017 compared to September 2016 according to the Cyprus Statistical Service.
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Unfair contracts languishing at Legal Service

Fifty two decisions by the Cyprus Consumer Protection Service relating to unfair contracts have been languishing at the Legal Service for two-and-a-half years instead of being brought to court.
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November property sales up 39%

Property sales in Cyprus rose 39 per cent in November compared with November 2016 with sales increasing in all districts according to official figures from the Department of Lands and Surveys.
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Specific Performance Law – depositing contracts

Cyprus' replacement Specific Performance law, which came into force in 2011, provided that contracts of sale that were signed but not been lodged at the Land Registry to be lodged within six months of the law coming into force.
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Paphos marina – call for President to intervene

Kissonerga community council is drafting a letter calling on the president to intervene to ensure that the construction of the Paphos marina at Potima goes ahead as quickly as possible.
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