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Strong growth in construction continues

The strong growth in the Cyprus construction sector continued in November with building permits authorised for the construction of 909 new homes according to official statistics from the Cyprus Statistical Service.
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Twice as many property sales to non-EU citizens

More than twice as many property sales were made to non-EU citizens than EU citizens in January according to official statistics published by the Department of Lands and Surveys last Friday.
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Cash-rich banks stockpiling real estate

Cash-rich banks are stockpiling properties as they turn to buy real estate linked to mortgages of defaulted borrowers as banking institutions dominate the property market.
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Is the Cyprus justice system broken?

Recent court cases have raised questions about the Cyprus justice system with a recent survey among Limassol-based lawyers highlighting their views on a number of key questions.
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Disappointing start for property sales

Property sales got off to a disappointing start in the first month of the new decade, but stayed ahead of the number sold in January 2017 according to official figures from the Department of Lands & Surveys.
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Stripping citizenship of 26 investors problematic

The process of stripping citizenship from 26 foreigners who obtained Cypriot passports is proving difficult as passports for naturalised investors cannot be revoked according to the law.
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Banks to offload €4 billion NPLs

The Bank of Cyprus and the Hellenic Bank will sell non-performing loans (NPLs) worth €4 billion by the end of February enabling them to dispose of more than 10% of their problematic loans.
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Citizenship applicants are high-risk

The Institute of Certified Public Accountants of Cyprus (IPAC) has cautioned its members that "Investment citizenship programs carry inherent risks relating to money laundering, corruption, bribery and tax evasion."
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Law regulating Airbnb rentals passed

A bill to regulate the rentals of self-catering accommodation by owners through online platforms like Airbnb and booking .com was passed by MPs earlier today, covering both new and existing accommodation.
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House prices not recovered from 2007 crash

House prices and rents in Cyprus have yet to recover to the levels last seen before the island's property market bubble burst in 2007 according to the statistical office of the European Union (Eurostat).
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Law to evict tenants to parliament

Amendments to the rent control law making it easier for landlords to start the process of evicting tenants who fail to pay their rent will be presented at a plenary session of parliament on Friday.
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House price index falls 5.9 per cent

The Cyprus house price index (HPI) fell by 5.9 per cent in the third quarter of 2019 but rose by 2.3 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).
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Permits authorised for 744 new homes

Building permits authorised in Cyprus during October 2019 provided for the construction of 744 new homes, compared with 617 in October 2018 according to official figures published by the Statistical Service.
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Estia applicants hit 50% of eligible borrowers

Applications for the Estia programme, which aims to assist home owners with non-performing mortgages by providing government support, have been submitted by more than 50 percent of those eligible.
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Rise in property sales attributed to local & EU buyers

The 12 percent year-on-year increase in the number of property sales in Cyprus during 2019 was attributable to Cypriots and EU citizens, while the number of sales to non-EU citizens remained stable.
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Annual property sales hit eleven year high

Property sales in Cyprus during 2019 topped 10,000 to reach the highest number recorded since 2008 according to official statistics published this morning by the Department of Lands and Surveys.
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What next for the Cyprus real estate market?

The Cyprus real estate market is changing faster than ever and its predicted that the positive trend will continue as the market is constantly developing and becoming more attractive to global investors.
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Cyprus passports really are ‘golden’

A new index shows that Cyprus passports really are 'golden' ranking its power at eight as its holders can visit 166 countries including 122 visa-free and 44 by obtaining visa on arrival.
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Overseas property sales drop 15%

Sales of property in Cyprus to the overseas market fell 15% in November in a continuing trend that started in June following the introduction of stricter criteria for foreigners seeking Cypriot citizenship.
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First auction of foreclosed properties

The first online auction of foreclosed properties will be held Wednesday morning kicking off at 10:00 and continuing for two hours unless a one-hour extension is granted when 16 properties will go under the hammer.
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