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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New legislation offers tax breaks to borrowers with Non-Performing Loans (NPLs). Specifically, when they wish to sell mortgaged property to pay off their loans, they can benefit from tax breaks. In the case of an ordinary property sale the state collects taxes in the following ways: .1. The seller pays a 20% capital gains tax on the calculated sales profit. If the seller is considered…
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Nicosia is not only the capital of Cyprus, it’s one of the most sought after destinations where many people choose to rent property year on year and we are set to see this number increase before the end of 2018. If the 340 days of sunshine each year isn’t enough to make you want to rent property in Nicosia , knowing that Cyprus is one of the fastest growing sustained rental markets might…
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NPLs sale - Will it affect the real estate market? Forecasting the degree to which the sale of Non-Performing Loans (NPLs) will affect the real estate sector is not an easy task. The debate originates from the decision of the Bank of Cyprus to sell 14,024 NPLs to investment funds managed by the international company, Apollo Global Management LLC. The borrowers of the NPLs in the transaction owe around…
View Full Article >There seems to be a lot of confusion between owners and tenants as to how and when a rent increase can be implemented. We will try to make clear what governs rents today as ignorance seems to be the cause of arguments that lead cases before courts in many cases. There are two categories of properties/tenants. Sitting Tenants The first involves properties under the rent control legislation while…
View Full Article >Cyprus, one of the most beautiful islands on the Mediterranean and the capital of Nicosia (or Lefkosia) is especially one of a kind. With its rich history, many local amenities and its warm climate, it’s no surprise why many people discover Nicosia when looking for the perfect place to live. Check out our latest property for sale in Nicosia for more details. Types of Property in Nicosia Once…
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