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Archive for January, 2007

The Theory & Practice – Capital Appreciation

We have read recently in a U.K. national newspaper a report on Cyprus, from a disappointed British investor, who has bought a property for (say) £100,000 and now he cannot sell it for more than this. This situation is quite common and we have written in the past in this paper, what sort of returns […]

Police Investigating Fraud Claims over Paphos Development

POLICE are investigating a series of complaints against a developer accused of taking close to three million pounds from around 70 people for properties in the Paphos district which have not been built, two years after deposits were paid. Briton David Goodman told the Sunday Mail he had paid a £40,000 deposit for a townhouse […]

Battling The Builders: Who’s to Blame for Shoddy Work?

TALK to anyone who’s built a house, and the chances are they’ll come up with a horror story. In recent weeks, the Sunday Mail has received several complaints from home buyers on the brink of a nervous breakdown after bad experiences with builders. And it appears that there is nothing that can be done to […]

Price Index of Construction Materials, December 2006

Figures released by the Cyprus Statistical Service show that the Price Index of Construction Materials for December 2006 reached 133.72 units (base year 2000=100.00) recording a marginal increase of 0.03% over the previous month. For the period January – December 2006, the index recorded an increase of 4.98% over the corresponding period of the previous […]

Property Prices Fall for Fourth Successive Month

The Cyprus property price index is published monthly by BuySell Cyprus Real Estate, a real estate advertiser. The company started to produce its property 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. […]

Title Deeds & Share Transfers – Beware

Due to the delays that are met in securing the various building permits and the consequential delays in getting the titles and the much sought after transfer of title, the market has come up with a new way to by-pass the system. The time that it takes for a property to have its title secured […]

Cyprus Project Management – Real Estate

The job of the Project Manager is well known in most of the developed countries and the need for such an added consultant’s job in the building industry, arose as a result of the increasing complexity of buildings, the cost which reached higher and higher levels and the more sophisticated mode of work by the […]

Cyprus Property Market Set to Boom, say Experts

CYPRUS is among the three EU countries – with the UK and France – where property is set to boom in 2007, with price rises of up to 15%, according to property specialists Assetz. They say the island is among the established property markets, which will be the hotspots for 2007, while emerging destinations such […]

Property Conveyancing in Cyprus

When buying property in Cyprus, lawyers representing the vendor and the buyer carry out the legal work required, which is known as conveyancing. The conveyancing process is fairly complicated and involves unravelling the legal jargon found in the Title Deeds, checking the background of the property, and various title searches. The process culminates in completion […]

Buying Mortgaged Property in Cyprus

Question Hi Nigel, I am in the process of buying an off-plan Cyprus property from a developer and the lawyer acting on my behalf has advised me that: “The bank which has a mortgage on the project will issue a declaration confirming that the separate Title Deed issued for the property will not be burdened […]

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