Latest Headlines

Archive for 2008

Is your lawyer working for you?

People buying property in Cyprus often make the fundamental mistake of not taking independent legal advice. Many choose to use the ‘free’ legal services offered by the developer. Others use a lawyer who’s been introduced or recommended to them by the developer or the real estate agent acting on the developer’s behalf (unaware that estate […]

“Pump and Dump” Schemes

Traditionally, “pump and dump” schemes involve the promotion of company shares through false and misleading statements to the marketplace. After pumping the shares, fraudsters make huge profits by selling their cheap shares into the market. Often these fraudsters will claim to have “secret” or “insider” information about an impending development or to use an “infallible” […]

30% rental returns guaranteed!

I’ve seen many exaggerated claims made by overseas property marketing companies. They talk about the ever-growing number of British tourists visiting Cyprus and offer ‘guaranteed’ rental yields of 30% or more on buy-to-let holiday homes and apartments. Unfortunately, many people have been duped into believing this marketing hype and have ended up buying property in […]

Contracts for Limassol marina signed

Cyprus Trade, Industry and Tourism Minister Antonis Michaelides signed the contracts for the construction of a marina in Limassol worth 170 million euro. The marina, which will be constructed with the method of Build-Operate-Transfer (BOT) in three years, will have a capacity of 1,000 yachts in and out of water. Speaking during the signing ceremony, […]

Cyprus weather in January

“Cyprus enjoys the best Mediterranean climate with approximately 340 days of sunshine per year. Paphos has the finest climate on the island with cooler summers and short mild winters. The swimming season practically starts from April and does not end until November. Pine forests are close to the coast and it is possible to ski […]

Cyprus property numbers and costs

The Statistical Service of Cyprus (CySTAT) produces various figures concerning the Cyprus property market. They publish a Construction and Housing statistics report for 2005, and I’ve used this information to construct the chart below. This shows the number of properties completed in each year together with the cost (not price) of construction per square metre […]

Cyprus attracts retired Britons

RECORD numbers of Britons are fleeing the country for more appealing climates, lower taxes, more affordable property and fewer traffic jams. Latest figures from the Office for National Statistics show that 200,000 people left Britain for good in 2007, and the majority of them were retirees. However, many of those who live the dream underestimate […]

Construction loans boom despite Banks’ measures

Despite measures taken by the Central Bank of Cyprus earlier in the year, loan growth hit a 10-year high in December 2007. According to the Central Bank’s figures, loans made by the commercial banks rocketed

Specific Performance what Protection?

In 2001 we bought a plot of land and had a house built on it. We decided to move to somewhere closer to town and we’ve been trying to sell. We’ve had a few people around and one couple put in an offer which we accepted. But when their lawyer did a search he found […]

Cyprus property developers claim expat tried blackmail

THE PARALIMNI Cyprus property developers at the centre of a police assault investigation involving a British home buyer yesterday countered the allegation by accusing him of blackmail. Conor O’Dwyer, 38, spent six days in Larnaca hospital last week after being allegedly assaulted by the father and son developers, who were later arrested and held in […]

Back to top