Latest Headlines

Archive for April, 2009

Paphos timeshare companies desperate to clean up image

Brendan Surgenor plans to clean up the mess, bring down the numbers of representatives on the streets, and legalise the touts to a specified number per company. There are many dotted around Paphos; it’s not just on the seafront and in the market

FCO raises warning level

Buying a Greek Cypriot owned property in the Turkish occupied areas without the owner’s consent is a criminal offence, carrying a maximum prison sentence of 7 years and any attempt to undertake such a transaction could result in a prison sentence of up to 5 years.

EU court rules: Orams must demolish Cyprus house

The European Court of Justice has ruled that a judgement from the Republic of Cyprus ordering Linda and David Orams to demolish their house must be recognized by EU countries even if it concerns land in the occupied areas of the island.

Limassol marina runs aground

Plans for the new Limassol marina have run aground according to the town’s mayor Andreas Christou. It seems that the project, which is expected to cost around €170 million, is having difficulty raising the necessary funding.

Nicosians buy up British holiday homes

Former British holiday homes in Protaras are being bought up by Nicosia residents on steady incomes and who are able to obtain mortgages.

Cyprus property action group – update

The Cyprus Government is responsible for the lack of regulation and law enforcement in the property sector must now take full blame for any bad publicity resulting from their abject failure to act.

Stagnant construction & property sector

Cyprus is not Europe. In many European countries the situation is bleak as activity and prices have plunged to levels that leave little room for hope.

Cyprus rent increase ceiling lowered

A decision by the Council of Ministers has lowered the ceiling on rent increases. The Cyprus Land and Property Owners Association (KSIA) said this was an unfair decision and one that the government had not discussed with the association.

Row erupts over Dolphin payout to Aristo

Dolphin Capital said it would pay €50 million in cash and the balance of €42.7 million through the issue of 133.1 million shares in Dolphin Capital to Aristodimou or his companies, based on an issue price of 30 pence a share.

Property tax revenues crash

The amount of Capital Gains Tax collected, the majority of which results from the sale of property, crashed to just €15.1 million from the €90.1 million collected during the same period last year; a drop of more than €75 million

Page 1 of 212

Back to top