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Welcome to TheMoveChannel.com Cyprus News Homepage, where you can keep up with all the latest Cypriot property news, covering a range of property investment, real estate industry and personal finance news topics. If you like our news, why not sign up to one of our newsletters or RSS feeds and read it every day!Brits face Cyprus cash fear as house prices predicted to drop
British expats in Cyprus are facing fears for their cash as the island’s banks prepare to reopen tomorrow after almost two weeks. The country’s EU bailout, agreed on Monday, will see any accounts in the two main banks with deposits of over £85,000 subject to a new levy, as experts expect Cyprus property prices to fall even further.
Photo: Julie O'Connor
Latest Cyprus News
EU citizens will be given the right to a basic bank account in any EU country, if new proposals are introduced.
Cyprus property sales slumped to a record low in April 2013, according to the Department of Lands and Surveys, but overseas investment increased in several districts.
A new property tax bill has been approved by Cypriot MPs.
Cyprus property searches are on the up, according to Rightmove Overseas, who have seen activity surrounding the island's real estate increase as house prices fall.
The latest index compiled by the Royal Institution of Chartered Surveyors shows that sales, prices and rents are plummeting in Cyprus.
Cyprus has agreed a last-minute bailout deal with Eurozone financial ministers, securing €10 billion and keeping the country in the eurozone.
The European Central Bank has given Cyprus until Monday to raise €7 billion in order to secure a €10 billion loan from the EU and IMF. If the country does not meet the deadline, emergency funds will be withdrawn from the banks.
Global property investment could top $1 trillion this year, according to Cushman & Wakefield. The firm's latest International Investment Atlas reports that the global property investment market saw a “modest” 6 per cent rise in activity over the court of 2012, with volumes up to US$929billion.
Property sales in Cyprus reached a total of €1.9 billion last year, according to the latest figures.
Cyprus property prices continue to slump, according to the most recent report from the Royal Institution of Chartered Surveyors.
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