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Pissouri homeowners still in limbo

Property owners in the Limnes (lakes) area of Pissouri are still in limbo despite the previous Cyprus Interior Minister promise to pay for the mess, which at that time was estimated at up to €20 million.
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Vote imposing VAT on land sales postponed

A vote by the Cyprus government on a bill to impose 19 percent VAT on land sales (building and development plots) has been postponed until September; the draft bill will be sent to the EC.
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New home building permits up 44%

The number of new homes in Cyprus for which building permits have been issued rose by 43.8 per cent in April 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.
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June property sales up 28 per cent

The number of properties sold in Cyprus during June rose 28 per cent compared to June 2016 with sales increasing in all districts with the exception of Larnaca according to official figures.
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Limassol becoming a sky-rise bubble?

Referring to Limassol as "the bubble of towers" Politis suggested that the uncontrolled vertical development is causing headaches to town planners, warning that the town could pay the price of uncontrolled development.
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Hellenic Bank sells non-performing loans

The Hellenic Bank has sold its non-performing loan (NPL) and real estate management business, to APS Debt Servicing Cyprus Ltd, a member of the APS Holding a.s. group of companies.
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Cyprus ‘well prepared’ for skyscraper disasters

The Cypriot authorities have assured that fire safety measures are in place to tackle skyscraper disasters following concerns arising from the Grenfell tower disaster in west London.
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Trapped buyers (update 2)

The House Legal Affairs Committee is meeting today in efforts to resolve constitutional issues with the trapped buyers law. Meanwhile here is sitrep from Marina Massoura from the law firm of L.G. Zambartas LLC.
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Land values also recovering

As home prices enter recovery, so do land values, particularly in Limassol which has already attracted property developers from other coastal areas such as Paphos and Famagusta.
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Property prices rising says Central Bank

Cyprus property prices rose by 0.3 per cent over the fourth quarter of 2016 but fell 0.9 per cent over the year according to the Residential Property Price Index published by the Cyprus Central Bank.
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Overseas Cyprus property sales rocket

The surge in Cyprus property sales in May that we reported last Thursday was helped significantly by a more than three-fold increase in sales to the overseas market according to official figures.
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Russian and Arab investors developing land

Russian and Arab investors are buying and developing land in Cyprus with Limassol being their first option according to Marinos Kynegirou, the Chairman of the Cyprus Real Estate Agents Association.
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Strong surge in Cyprus property sales

There was a strong surge in the number of Cyprus property sales during May, with the number of contracts deposited at Land Registries across the island up 59 per cent compared to May 2016.
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Cyprus building more new homes

The number of new homes in Cyprus for which building permits have been issued rose by 34.6 per cent in March 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.
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New obstacle to solving Title Deeds mess

Solutions to the Title Deed mess resulting from court decisions declaring that the 'Trapped Buyers' law is unconstitutional will be the subject of a meeting between all parties on 16th June.
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Golden Visa Program raises €4 billion

The Cyprus Golden Visa Program, which enables non-EU citizens to purchase Cypriot passports and residency permits by investing money in property and other sectors, has raised €4 billion.
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Why trapped buyers law unconstitutional

Marina Massoura from the law firm of L.G. Zambartas LLC explains why the trapped buyers law was ruled as being unconstitutional by the District Courts in Limassol and Paphos.
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Ten years to reduce NPLs

The Cyprus Central bank expects it will take up to 10 years for non-performing loans (NPLs) to drop to manageable levels at the current rate of economic growth, Chrystalla Georghadji told reporters on Friday.
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Trapped buyers could lose their homes

The Limassol and Paphos District Courts in Cyprus have both ruled that the trapped buyers' law, which enabled those duped into buying property built on mortgaged land to get their Title Deeds, is unconstitutional.
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Property prices rising says RICS

Cyprus property prices are continuing to rise, with significant increases in Larnaca, Limassol and Nicosia, according to the twenty-ninth edition of the RICS (Cyprus) Property Price Index.
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