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Archive for 2009

Cyprus property prices fall in fourth quarter

HOUSE prices in Cyprus withstood overall the global property market recession, recording a slight increase during 2008. However, prices were much less dynamic in 2008 compared to the previous year, influenced mainly by the worsening global economic conditions. From January to December 2008, the BuySell Home Price Index recorded a total increase of 2.8% compared […]

Paphos marina on hold

A LEGAL battle has erupted over the tendering process for the new Paphos marina at Potima Bay area of Kissonerga that may result in its construction being put on hold. The Pandora Group (Leptos) was awarded the contract last June following a hotly contested bidding process with Aristo and Pafilia. But Aristo, the runner-up in […]

Bizarre twist as entire O’Dwyer court ordered out

COURT proceedings on the first day of the high profile Conor O’Dwyer assault case were adjourned yesterday after defence lawyers expressed concerns that the hearing was being secretly tape-recorded. In a bizarre twist to the ongoing saga, the entire gallery at Famagusta District Court was ordered out of the chamber and told by Judge Evi […]

Cyprus property sales on ominous downward trend

THE number of contracts deposited at the Land Registry gives a good indication of how many new properties are being sold in Cyprus. In the first eleven months of 2008, 14,403 contracts were deposited. This compares to the 19,478 and 15,500 deposited over the same period in 2007 and 2006 respectively. But what is even […]

Cyprus golfing villas progress

THOUSANDS of villas could be built in Cyprus over the next few years if the licensing of 14 golf courses gets the go ahead from Government. The news comes at a difficult time for the construction industry, which is already being affected by the huge number of unsold properties on the market. The procedure to […]

Brits buying property in Cyprus get new government advice

THERE ARE RISKS involved with purchasing property on the island of Cyprus. Many British nationals who buy property face problems due to misleading advertising, or because they do not have title deeds, or they have purchased off plan and the property has not been completed, or their property or neighbouring properties have been constructed illegally or taxes have been charged incorrectly.

Britain keeping watch on Cyprus title deeds fiasco

BRITAIN will take a close interest in measures taken by the Cyprus government to sort out the problems of property buyers left without their title deeds, a written answer to the House of Lords has said. Two questions were placed before the Lords last November detailing the concerns of some property buyers worried about the […]

Dodgy Cyprus property deals made Hatton millions

DEREK Hatton has been called every name under the sun. Spiv, wideboy, scally and chancer were just a few hurled at the firebrand Trotskyist when he tweaked the tail of Margaret Thatcher’s government, becoming almost as famous as the Prime Minister herself. A quarter of a century ago, the Armani-suited Left-winger with the Beatles accent […]

British property buyers come one step closer

Over recent months thousands of buyers caught in the Title Deed trap have been signing petitions, and writing to their MPs and MEPs in efforts to get the British Government and the EU to intercede with the Cyprus government on their behalf.

Cyprus government to sell state property

IT EMERGED today that the Cyprus government is considering selling state property and issuing bonds to raise the €200 million it owes to the Social Security Fund. Once the debt has been cleared the Fund should grow to create a reserve of more than €1 billion in the next five years. One luminary in the […]

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