GOOD news for those who applied for the Title Deeds under the provisions of the ‘trapped buyers’ law and who were concerned that they would be unable to benefit from the 50 per cent reduction in their Cyprus Property Transfer Fees if the transfer did not take place by 31st December 2016 –...
OVER a hundred properties, including luxury mansions, will soon go under the hammer after their owners failed to pay back bank loans, incyprus reports.
Two of the luxury homes belong to a father and his daughter.
According to Phileleftheros, one of the mansions – said to be worth over €1 million...
DISY LEADER Averof Neophytou’s radical proposal for slashing the state’s immovable property tax (IPT) by 75 per cent this year, and scrapping it altogether in 2017, was passed by a majority vote in Thursday’s parliamentary plenum.
The vote followed days of hectic haggling between the...
CYPRUS’ construction sector has the lion’s share of business loans despite having the biggest problems with their ability to repay according to the “Household and Non-Financial Corporations Indebtedness Report” published by the Central Bank earlier this week.
The report presents a...
THE CYPRUS government has changed its initial proposal for Immovable Property Tax reform and has abandoned its bill scrapping property taxes paid to the local authorities.
Under its revised proposals Immovable Property Tax will be calculated at a flat rate of 0.035% on 2013 property...
