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Archive for February, 2007

The Church says it will finish our homes but the big question is when?

RESIDENTS of a Paphos development who have been waiting for their title deeds for over ten years have cast doubt over Church claims that they will be ready by the end of the year. The Interior Ministry has instigated proceedings against the Ayios Pavlos Church, accusing the institution of failing to obtain a completion certificate […]

Predictions – Cyprus Property Market 2007

  We wish we had a God sent talent to predict “dead right” the developments in the Cyprus real estate market for the year 2007. We can only submit our predictions based on our under experience, especially with regard to the year 2006 bearing in mind the trends that exist. We welcome any other opinions […]

Buying Mortgaged Property in Cyprus

Question 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 with the […]

Is It Possible – £3,000/

Where are the property prices going dear readers? Are we aiming for the equivalent of the Kolonaki area in Athens, the Marble Arch in London, or even the N. York’s Central Park? We have noted in the past the fast rising of prices in property, but in this article we would like to concentrate on […]

Property in Cyprus – Building Permits

The Cyprus Statistical Service has announced that the number of building permits authorised by the Municipal Authorities and the District Administration offices during December 2006 was 772. These permits provided for the construction of 1,258 dwelling units. During 2006, 9,794 building permits were issued of which 7,415 were for dwelling units. Historical figures for Building […]

Property Prices Move Upwards in January 2007

After four successive months of falls, the Cyprus home price index recorded a rise of 2.6% in January 2007. 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 […]

Website Helps Cyprus Property Buyers

People thinking of buying Cyprus property can now refer to a website that provides independent information and advice. Nigel Howarth started www.cyprus-property-buyers.com to help guide new property buyers. A business consultant who previously lived and worked in Hong Kong, Australia, South Africa and the Netherlands, he bought his first bought property in Cyprus in 1992 […]

Without Devaluation will Property Prices Collapse?

The President and Central Bank have ruled out devaluation ahead of joining the euro zone. What else could they say? Every devaluation in history has been preceded by such denials. The more denials necessary, the more likely the event. Your correspondent Roger Greenwood has admirably stated the pros and cons of devaluation in your columns. […]

Golf Courses Told to Get Their Own Water

Permits for golf courses will only be handed out to entrepreneurs who will get their water from desalination plants or recycled water. Given the recent drought, the Water Development Department (WDD) has recently rejected applications for new golf courses as well as upgrades for existing ones, on the grounds that they would not be using […]

Crackdown on timeshare touts

Authorities appear determined to crack down on Cyprus property timeshare touts, in a bid to stamp out the soliciting of customers, which is believed to have an adverse impact on tourism. On Sunday alone, 16 touts were reported in Paphos, as part of a police campaign to discourage the practice. A number of plain-clothes and […]

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