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Archive for October, 2009

Cyprus golf courses at Tersefanou and Limni

It appears that construction work on two of the golf courses planned for Cyprus may get underway before the end of the year as their owners are now at the final stages of securing the necessary approvals.

BuySell Cyprus replies to report

Last month we reprinted an article from the Cyprus Sunday Mail on a dispute between Supertrust Estate Agents Ltd (BuySell Cyprus) and Mr Mike Skierka, the British owner of a house in Peyia.

Property buyers at risk as second developer collapses

More people face loosing their homes in Cyprus as a second property developer is liquidated. Buyers of A&G built properties without Title Deeds have been left at the mercy of the banks.

Financial ruin for Cyprus is just a rip-off away

A retired Russian speaks out about “rip-off Cyprus” and the exploitation of the British and other foreigners by property developers and shopkeepers, and warns of the financial consequences to the island and its reputation abroad.

Property market report for Cyprus

Falling property sales, which are down by 52% this year compared to last, are impacting employment levels, the inflow of revenue to state coffers, and the island’s economic well being.

Improvement in Cyprus direct tax revenues

There are signs that the Cyprus government’s efforts to avoid the island’s budget deficit exceeding 3% of its GDP, which would result in EU Supervision, are bearing fruit with Immovable Property Tax collections almost doubling during September.

Building permits for Cyprus residential property falls

Figures released today by the Cyprus Statistical Service (CYSTAT) show that building permits for the construction of 1,161 residential properties were authorised in July 2009; down by nearly 40% on the 1,925 authorised in July last year.

EU acts against Cyprus over estate agent curbs

Brussels considers that Cyprus’ estate agents law that imposes conditions on the professional requirements of estate agents from other EU member states is incompatible with European rules.

Cyprus real estate agents – how to avoid the cowboys

A law passed in 2004 and subsequently amended in 2007 was designed to rid Cyprus of the numerous cowboy real estate agents. But unfortunately, in all of the property hot-spots, you will still find many individuals and companies trading in property illegally.

British police probe Cyprus villas scam

British police are investigating an Internet scam in which Britons paid morairaway.com and sister websites for non-existent Cyprus holiday villas after adverts appeared on villa rental sites Holiday-Rentals and Holidaylettings.co.uk

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