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Marina for Kiti

A marina on the southern coast of Cyprus between the villages of Kiti and Mazotos is under study and has the potential to bring large numbers of visitors from other parts of the island, as well as tourists.
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Confusion over Cyprus property values

While the European Commission contends that Cyprus properties are overvalued by 5 per cent, the European Central Bank considers they are undervalued by between 4 per cent and 16 per cent.
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Debt-to-asset swaps distort property sales

Although property sales in Cyprus appear to have increased by 25 per cent during the first five months of 2016, the numbers include debt-to-asset swaps as part of the banks' restructuring deals.
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March building permits up 5 per cent

The number of building permits authorised by the municipal authorities and the district administration offices during March 2016 stood at 485 according to the Cyprus Statistical Service.
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More help for trapped buyers

Further help for trapped buyers is provided by a Ministerial decree enabling Certificates of Approval to be issued for residential properties that fail to comply with the permits issued for their construction.
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Cyprus property sales continue to rise

Property sales in Cyprus continued their upward trend in May 2016 compared to the same period last year, according to official statistics published by the Department of Lands and Surveys.
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Lawyers’ price-fixing challenged in EC

A formal complaint concerning price-fixing of lawyers' fees in Cyprus has been submitted to the European Commission on behalf of George Lambis – a Greek Cypriot and the Financial Director of a national charity in the UK.
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Property sales recovery underway?

Property sales in Cyprus increased in April 2016 compared to the same period last year, according to official statistics published by the Department of Lands and Surveys, with sales up by 35 per cent.
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Paralimni marina contract awarded

The contract for building and operating the Paralimni marina near the fishing reserve of Ayios Nikolaos and which will accommodate 300 vessels has been awarded to PMV Maritime Holdings Ltd.
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Cyprus advised to do more

The European Commission has issued Cyprus with a number of recommendations to speed the issuance of Title Deeds, reduce NPLs, eliminate impediments in the insolvency and foreclosure frameworks, etc.
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Larnaca port and marina project

The construction of the Larnaca port and marina project, which has been stalled by bureaucracy and legal wrangles for more than 25 years, will be put out to tender by September the Transport Minister has said.
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Time running out for UK expats

The Electoral Commission is urging UK expats to register and vote in the EU referendum that will be held on 23rd June to decide whether the United Kingdom will remain or leave the European Union.
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Paphos marina contract

Earlier today the Poseidon Grand Marina of Paphos consortium was awarded the tender for the construction of the town's marina, which will provide berths for around 1,000 plus residential and commercial developments.
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February building permits up 9 per cent

Although the number of building permits authorised in February 2016 rose by 9 per cent compared to the number authorised in February 2015, both their total area and total value fell.
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Ayia Napa marina revised plans

Ayia Napa is one step closer to getting its marina after the project's revised planning permit was approved and, with other works planned for the town, it will greatly benefit the area's economy.
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Non-performing loan ratio increases

Non-performing loans (NPLs) ratio in the Cypriot banking system stood at 48.9 per cent of total loans at the end of February, up from 45.8 per cent in December, according to data released by the Central Bank of Cyprus.
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Fitch affirms Cyprus at B+

Fitch Ratings has affirmed the long-term credit rating of Cyprus B+, with a positive outlook, but warned that "banks remain fundamentally weak and pose an ongoing risk to the economy and public finances."
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Plans for luxury apartments in Larnaca

Lebanese investor Yussef Kanaan has announced plans to invest €15 million to build luxury apartments in Larnaca on land that he purchased for €3.5 million and expects to get a building permit within the week.
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Bids submitted for Ayia Napa marina

More than 25 years after initial studies into five marina projects were undertaken, bids for the construction of the Ayia Napa marina have been submitted to the company in charge of the project M. M. Makronisos Marina Ltd.
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Property sales continue to improve

Property sales in Cyprus increased in March 2016 compared to the same period last year, according to official statistics published by the Department of Lands and Surveys, with sales up by 19 per cent.
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