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Archive for November, 2009

Property buyers rights to be strengthened by new law

The Cyprus Interior Minister, Neoclis Sylikiotis, has asserted once again that the draft legislation currently under discussion is designed to strengthen the rights of property buyers and will create healthier conditions in the Island’s real estate market.

Situation is critical says Cyprus Central Bank governor

Long term reforms are urgently needed to buffer the critical economic problems plaguing the island, the governor of the Cyprus Central Bank said yesterday.

Interest groups doubtful on Title Deeds legislation

Property groups in Cyprus remain sceptical of the effectiveness of the Title Deed legislation being proposed by the Interior Minister Neoclis Sylikiotis following his briefing to them last evening.

Built on greed and nepotism says Cyprus protester

The property industry in Cyprus is built on greed and nepotism. The developers borrow money from the bank using people’s homes as collateral and the banks and lawyers are part of the deception. I have proof that my home has been mortgaged by my developer.

Title Deed reforms worth millions next year

Based on assumptions about the charges levied for the issue of Title Deeds & expectations of the number of properties that will be processed, Neoclis Sylikiotis believes that the Cyprus Government could receive €160 million next year alone as a result of his reforms.

Bank actions cast doubt on Interior Minister assertion

The case of a divorced young woman reported in the Cyprus Weekly casts serious doubt on the Interior Minister’s assertion that it is not a simple matter for a bank to liquidate a property to recover a debt in Cyprus.

Finding lawyers in Cyprus

People buying property in Cyprus are generally unaware of the island’s different business culture and the fact that many lawyers work for the developers’ interests rather than those of the buyers.

Question for the Interior Minister

I have paid in full for my house in 2006, the site on which my house is built is now complete, I have a contract drawn up by a Cyprus Bar registered solicitor and lodged with the Land Registry. WHEN CAN I HAVE MY TITLE DEEDS?

Demonstrations against Cyprus banks

CPAG is organising a series of demonstrations in efforts to force the banks in Cyprus to disclose details of mortgages taken out by property developers to those homebuyers who have been duped into buying mortgaged property.

Title Deed proposals are a recipe for disaster

The Cyprus government Title Deed proposals are a shambles and a recipe for disaster and we are horrified that they have even been considered for the statute book; they are a legal minefield and a social time-bomb – says Professor of Law, Criminology & Penal Justice.

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