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Archive for 2007

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 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 […]

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 […]

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