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Cyprus extends property tax amnesty

Property Showroom 30.10.2012
Cyprus extends property tax amnesty

The Cypriot parliament last week (October 26th) rushed through an amendment to the country's tax amnesty, extending the holiday by 14 months.

Property law loophole losing tax revenue millions

Everyone knows that there are massive loopholes in the island’s antediluvian property laws. Shouldn’t these be plugged before the banks start selling off people’s homes as demanded by troika?

Compared to Q2 2011, prices dropped by 10.2% for apartments, 6.4% for houses, 10.8% for retail, 9.0% for office, and 12.0% for warehouses.

RICS Cyprus Property Price Index has recorded significant falls across Cyprus’ major urban areas, with prices and rents falling across all districts, according to the results of the eleventh publication of RICS published today.

Free Tickets to A Place In the Sun Live

Cyprus Propery News 06.07.2012
Cyprus property market buoyed by Chinese buyers

Buyers from China are helping boost the real estate market in Cyprus, with professionals in the property industry reporting an upturn in purchasers from the nation.

Amanda Lamb, Jonnie Irwin and Jasmine Harman (photo: A Place in the Sun)

Free tickets are available to the A Place In The Sun Live overseas property exhibition at NEC Birmingham between 28th – 30th September where advice on buying property in Cyprus and many other destinations will be given.

House Hunting in ... Cyprus

New York Times 20.05.2012
A stone villa is on the market in the hill town of Pano Lefkara in south central Cyprus for $585,943. The villa is actually two adjacent homes, one with red doors, right, and the other with blue doors.  More Photos »

A TWO-FAMILY VILLA WITH A POOL IN CYPRUS. 450,000 euros ($585,943) This two-story white stone villa in the picturesque town of Pano Lefkara in south-central Cyprus was built around 1900. A pair of adjoining small houses with a total of four bedrooms, the villa largely retains its original structure, though it has been updated by the well-known Cypriot architect Yiannis Armeftis with a swimming pool and features like a spa room and a courtyard.

Cyprus' market struggles to 'pass go and collect 200'

The Cypriot property market struggles to shake off the slump as property and rental prices have continued to drop.

Cyprus banks should offload distressed property

Cyprus Property News 19.04.2012
Cyprus banks taking ‘dramatic measures’ to shift property

The three largest Cypriot banks are taking ‘dramatic measures’ in order to raise enough capital to cover the losses they have suffered as a result of the Greek debt crisis.

CYPRUS’ three largest banks, Bank of Cyprus, Popular Bank and Hellenic Bank are involved in ambitious capital raising exercises to cover massive losses sustained on their Greek sovereign debt exposure and distressed property holdings in Greece and Cyprus.

The attempt to reach the capital targets may however not be successful if the banks don’t rush to offload distressed and non-core assets.

Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.