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Archive for 2008

European house price boom ‘is over’

The great European house price boom ended in 2007 according to a new report predicting storm clouds on the horizon for the Continent’s property markets. Only Cyprus and Iceland saw house prices outstrip the previous year’s performance, according to the Royal Institution of Chartered Surveyors report, which called the end of the property goldrush. Report […]

Property developers move in

LAND developers are showing an interest in the Pyrgos Tylliria area, now that the prospect of the Limnitis checkpoint opening appears firmly on the agenda. Citing sources yesterday, Phileleftheros newspaper claimed that

Housing loans surge

According to the Central Bank Monetary Review, credit growth in January 2008 stood at 33.48%, higher than February 2007. The total value of loans granted in the first month of the year stood at €42.19 billion from €31.6 billion in January 2007. This increase of €10.58 billion stems from loans to non-financial organizations and the […]

Top 10 property contract clauses

When you instruct a lawyer in Cyprus you trust them to include everything that needs to be included in the contract purchasing the property to protect you. Sometimes it is only when things go wrong that you realise that something extra could have been added into the contract to protect you. As a non-specialist it […]

Chasing out the Cowboys

Investing in property abroad? Good news – there’s a new watchdog protecting you from the market’s rip-off merchants. We can spend months planning our summer holiday abroad but, incredibly, few of us spend enough time doing our homework when we are shopping around for a foreign home. It’s a staggering fact that when we buy […]

The sky’s the limit

THE RISE in real estate prices, coupled with an unprecedented development boom, have been established as an entrenched reality in Cyprus over recent years. Limassol is currently host to numerous exclusive residential projects, including a project marketed as “the most exclusive in the Mediterranean”, offering accommodation for sale up to a staggering €12.5 million. The […]

Developers ‘scamming buyers’ over property tax

THE CYPRUS Property Action Group (CPAG) has obtained a legal opinion which concludes that developers are effectively scamming buyers by overcharging them for Immovable Property Tax (IPT) and pocketing the difference. “This is a massive fraud,” said the CPAG’s Denis O’Hare. “We want this money back and we want prosecutions“. The CPAG said property developers […]

Conor O’Dwyer stages UK protest

BRITISH home buyer Conor O’Dwyer will begin a three-day protest outside one Britain’s biggest property fairs in a move that could seriously damage the lucrative industry in Cyprus. O’Dwyer, 38, told the Cyprus Mail yesterday that he and his wife would protest outside The Homebuyer & Property Investor Show at ExCeL in London, which begins […]

Top 10 property investment tips

THERE ARE many reasons to invest in a property in Cyprus – and probably twice as many pitfalls or reasons why you shouldn’t be buying here. So what do you need to do before taking the plunge? Here are my top 10 property investment tips for those thinking of buying property in Cyprus. Tip 1 […]

Top 5 legal tips for property buyers

BUYING a property in Cyprus can be a daunting experience, particularly if you are unfamiliar with the system here. You need to find a lawyer you can trust, who will act for you independently and make sure that your position is fully protected… the problem is – how do you know if your lawyer is […]

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