Latest Headlines

Archive for 2006

Construction Methods

The method used for building property in Cyprus is quite different to that used in many other European countries, including the UK. The island is situated in a seismically active region of the world and the Cyprus Government requires all property to be built in accordance with strict anti-seismic regulations. – As a result, most […]

Buying New Property in Cyprus?

I was once asked the question “Why are all villas and apartments for sale in Cyprus advertised as being ‘luxury properties’?” I replied “Because if the developer can sell them to unsuspecting expatriates, he’ll be able to retire in luxury!” OK, it’s a joke and many expatriates have no problems when buying property in Cyprus. […]

Cyprus Property and Title Deeds

Cyprus is one of the few countries in the world that maintains an effective land registry system in which all ‘immovable property’ (a term that relates to land and buildings, trees and plantations, rivers, wells, and all rights relating to land and buildings) is registered. (The system used in Cyprus is very similar to the […]

Construction Output Accelerates in Quarter 2

Construction output in Cyprus accelerated in the second quarter of 2006 and also rose faster than initially estimated in the first quarter, according to the latest figures from the Statistical Service. The construction output index in the second quarter reached 138.8 units (base year 2000=100.0), recording an increase of 6.9% over the second quarter 2005. […]

Deadline on Title Deeds Law Extended

Parliament on Thursday night voted to extend the time period in which the law for the legalisation of a significant number of irregularities regarding immovable properties purchased before March 2005 is in effect. In an effort to combat the huge delays facing property buyers in the issuance of their title deeds caused by the recent […]

Cyprus Home Price Index – September 2006

The Cyprus home price index is published monthly by BuySell Cyprus Real Estate, a real estate advertiser. The company started to produce its home price index in 2004. It shows the movement of prices at which residential properties in Cyprus are sold and is based on an average of around 400 to 500 home sales/month. […]

Construction cost up 72.9% in 6 years

According to CYSTAT (the Cyprus Statistical Service) data released on Thursday, the construction cost in Cyprus soared 72.9% in the past 6 years. In the second quarter of 2006, the producer price index stood at 171.2 points against 99 points in the corresponding period of 2000. Compared with the second quarter of 2005, the producer […]

Cyprus real estate agents criticize state

The real estate agents have criticized strongly the state for the latest increase in the price of properties, since they believe that it is receives not a negligible sum from the value of sale. “A study revealed recently that 30% of the value of properties go to the state funds. The only way out is […]

One Good Deed Deserves Another

LAST YEAR a law was passed that, supposedly, would have made it easier for buyers of apartments to obtain title deeds for their properties, title deeds for which they had been waiting for years. Although the law was hailed as major breakthrough at the time it has proved ineffectual, with big waiting, its only achievement […]

Can Cyprus Cope with a Property Boom?

Sir, I read with interest your story urging us to “get ready for a property boom” (October 4). Is Cyprus equipped to cope with this new demand for housing and as a result the need for more residence permits and access to healthcare? The current system seems stretched beyond its resources. As an example, my […]

Back to top