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Welcome to Fox Smart Estate Agency news page, here you can view all the latest Cyprus property news from the local experts. So if you want to find our more about the Cyprus real estate industry check out our latest news articles below:

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  • PRESIDENTIAL ANNOUNCEMENTS ABOUT PROPERTY TAXES DISAPPOINTING

    Published on 6th July 2015

    It was with some relief that we heard President Anastasiades’ announcement of measures for the real estate sector. Unfortunately though, the tax breaks and incentives offered, come too little and hopefully not too late. We have not yet had access to the relevant bills and have to base our views on the announcements made by officials. Let us take the example of the abolition of the Capital Gains…

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  • REAL ESTATE TAX RESTRUCTURING A MUST

    Published on 25th June 2015

    Each and every property in Cyprus is taxed three times: at acquisition, while it is being held and on its sale. It is a well-known fact that in Cyprus, properties are heavily taxed when they are sold or bought and they draw a negative comparison with what is the norm in other European countries. It is also well known that the holding property tax was considered reasonable to low up to 2011, but when…

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  • TOUGH TIMES AHEAD FOR NPLs

    Published on 10th June 2015

    Following the announcement of the government plan to protect the primary residence and small business accommodation by the Council of Ministers on June 3, to be monitored by KOAΓ (Cyprus Land Development Organization), we are witnessing the completion of the legal framework regarding foreclosures and insolvency. It is now the time for tough decisions by people with Non-performing Loans (NPLs). Why…

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  • A look at our town eyesores

    Published on 3rd June 2015

    Buildings thick in form but thin in character Experiencing a townscape, which is conceptually consistent and reasonably maintained is something that most of us do when we visit foreign capitals. Tourists get to experience it again when they return home. Our cities continue to be patchwork. Scattered, incoherent, incomplete constructions have manifestly mottled and mutated our otherwise decent looking…

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  • Immovable Property Tax - Inhuman and Absurd

    Published on 18th May 2015

      IMMOVABLE PROPERTY TAX - INHUMAN AND ABSURD The Previous Administration, in 2011 raked in €11 million from the Immovable Property Tax (IPT). In 2012 the income from the same tax shot up to €25 million. Regarding 2013 the previous government proposed a tax hike to reach the sum of €200 million. In the end, the new administration lowered that figure and collected €100 million for 2013 as…

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