Archive for Category: Property News

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Non-performing Loans Initiative Within the Cyprus Property Sector

Following comments from the troika on the particularly high levels of non-performing loans (NPLs) within the property market, the Cyprus government is formulating suggestions to recover the liquidation and foreclosure legislation. Speaking at the Economic Congress in Nicosia, the Cyprus Finance Minister stated that depending on investor interest in...

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Grants Being Offered for Newlyweds on First Land Purchase in Cyprus

The Cyprus Government have recently announced exciting news for couples looking to buy their first property together. A draft bill has been submitted to parliament ultimately exempting the payment of 19% VAT for youths purchasing land for the purpose of building their first home or primary residence together in...

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Cyprus Government Look to Amend AIF Legislation to Attract Foreign Investment

The Cyprus House finance committee discussed a bill submitted by the government designed to attract foreign investment into the housing market on the island. There have been recent plans to clarify and streamline regulations regarding AIFs (Alternative Investment Funds) which in turn harbour a more competitive environment. The bill...

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Cyprus Property Law: Why Are Some Homeowners Charged Transfer Fees & Some Aren’t?

Cyprus MPs have released plans to draft a bill aiming to remove bias within the Cyprus courts whereby some purchasers of real estate within the Republic are subject to property transfer fees while others seem to be exempt. The reasoning for the convoluted laws is due to VAT payment,...

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Cyprus Property Demand on the Continued Rise: Risk of Property Bubble?

Asked recently about the rapid growth of high-rise apartments and building ventures in Limassol, the Chief of the Department of Lands & Surveys in Cyprus stressed that the only concern is whether the high demand will create another property bubble as history repeats itself. The Chief also stipulated that...

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