The Cyprus Geological Survey Department is warning citizens regarding the protection of their immovable properties, reviewing the geological suitability...
Adjustments to the law on foreclosures could have "significant negative impact" on the Cyprus banking system warns the European Central Bank (ECB) in an email to the Central Bank governor.
Moody’s rating agency has warned that changes to the foreclosure law will lengthen the time it takes for banks to foreclose on properties making it more difficult to reduce their NPLs.
The Finance Minister has warned that Cyprus may face consequences over changes to the foreclosure legislation passed by parliament on Friday and has urged President Nicos Anastasiades to veto the bills.
Despite MPs being warned that changing the foreclosures legislation would have negative repercussions on the banks and the economy, MPs have voted to change and suspend the legislation.
Further rent rises in Limassol are expected as thousands of construction workers needed to complete numerous projects will require accommodation in or near the city pushing rents up even higher.
