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Archive for November, 2007

Expat frustration over lawyers in property disputes

PROPERTY buyers entangled in legal battles with developers are finding their Cyprus lawyers are often part of the problem rather than the solution. A number of British property buyers say they have been stung by not just one, but several successive Cyprus lawyers, who only added to their troubles. Either the lawyers they hired had […]

Playing games with us

ROSE (not her real name) came to Cyprus in May 2005. She and her husband found an old house that needed repair and bought it for £92,000 from a builder. “We asked about a solicitor and were told there was one in the same block as the builder, and we were introduced,” Rose said. “In […]

The problem with lawyers

CYPRUS PROPERTY BUYERS fighting legal battles with developers are finding their lawyers are often part of the problem rather than the solution. A number of British buyers say they have been stung by not just one, but several successive lawyers who only added to their troubles. Either the lawyers they hired had a personal connection […]

Property scandal set to rock Cyprus market to the core

A scandal involving a leading property developer in Cyprus may have the potential to shake to the core the credibility of the holiday homes market on the island, following allegations supported by video evidence, contracts and audio evidence that a property developer in Paralimini sold a plot of land to Conor O’Dwyer in 2005 for […]

Cyprus home price index up 3.75 percent in October

BuySell Cyprus Real Estate, a real estate advertiser, publishes a monthly ‘Home Price Index’ – the only one of its kind in Cyprus. The company started to produce the 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 […]

Cyprus – on the commission trail, buyer beware!

Just as anyone in Cyprus can become a property developer overnight without any requirement for qualifications, regulation or financial standing, there are even more permutations at the selling end of the current Klondike-like rush for gold. Space inhibits the complete range of occupations involved in this national sport. However, some of the potential players could […]

Cyprus real estate boom boosts tax receipts

According to the Cyprus Financial Mirror, increased revenue from Capital Gains Tax on Cyprus property sales has been instrumental in boosting the government’s revenue in the first nine months of 2007. It went on to say that the Inland Revenue Department reported that the total revenue during the period January – September 2007 advanced by […]

Credit crunch cools the Cyprus property market

THE CENTRAL Bank has reduced loan financing for property purchases to 60 per cent in order to protect banks from a worrying increase in loans, the Central Bank Governor said yesterday. Speaking before the House Commerce Committee, Athanasios Orphanides explained that the continuous and worrying demand for property loans in Cyprus had forced the Central […]

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