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Archive for 2008

Planning: amnesty & development proposals

WE understand that a bill concerning an amnesty for property owners who have committed urban planning violations will be submitted to the Cyprus Parliament before the end of the year. Speaking to Parliament, Interior MInister Neoclis Silikiotis said: “It’s not an issue of urban amnesty only, but it is about mortgages to banks or other […]

MacAnthony malpractice judgement by NFOPP

The tribunal were appalled to hear of the Company’s misleading business practices, including unfulfilled promises of guaranteed rental returns and misleading descriptions of the facilities that would be available to owners.

Is our home in Cyprus mortgaged?

We receive many letters from people who are concerned that their developer may have mortgaged the land on which their property has been built. Typical of those letters is the one below – together with my advice on how to discover whether or not your property has been built on mortgaged land.

Cluttons comes to Cyprus

Cluttons, the London based partnership of surveyors, has announced that it is extending its presence in the Mediterranean basin with an associated office in Athens. Cluttons Greece will oversee the markets of Greece and Cyprus and focus primarily on high-end residential properties. Robert Key, Managing Director of Cluttons Greece, commented: “Despite current global economic conditions, […]

Is the Cyprus property market frozen?

THE ONCE lucrative property market has come to a standstill as buyers, sellers and banks wait for the full effects of the global credit crunch to show, said property experts yesterday. According to Charalambos Petrides, Vice President of the Property Valuers’ Association, the credit crunch has come at a time when the property market is […]

Cyprus property trends: Does Google hold the key?

EARLIER today I was speaking with a journalist from one of the local newspapers. Needless to say, our conversation was on the subject of property, including the interest being shown by foreign buyers. As the earlier article “Cyprus property: should we fear a slump?” by Stefanos Evripidou reported, there are many conflicting views by various […]

Title Deed confusion for non-Cypriot property buyers

It’s been reported in the media that non-Cypriots trying to obtain the Title Deeds for their property are facing more confusion. According to the report, the Government has recently introduced a new set of rules, which makes the process even more difficult. We too were confused, and have looked a bit deeper into the situation. […]

Cyprus property prices up in third quarter

HOUSE prices in Cyprus, in the third quarter of 2008, remain resilient despite the worsening global economic conditions. From July to September 2008, the BuySell Home Price Index recorded a total increase of 1.5% compared to the last quarter. However, the year-on-year rate of increase decelerated (compared to the last two quarters), coming down to […]

Cyprus property: should we fear a slump?

AS the world’s largest economies settle into a global recession, the Cyprus property market sends out mixed messages on how it’s confronting the crisis, with analysts divided on whether house prices are actually going up or down. One real estate consultant argues the international financial crisis has hit the foreign buyers’ property market hard, pushing […]

New EU rules agreed for timeshare property

THE timeshare holiday rights of some 1.5 million European families will soon be better protected, as MEPs in Strasbourg are expected to endorse a compromise reached between Parliament and Council on the new Timeshare Directive. The directive seeks to enhance consumer confidence and legal clarity, which are essential to the growth of this sector, via […]

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