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Archive for 2009

Cyprus property sales to foreign buyers nose-dives

The number of non-Cypriots buying property on the island has gone into freefall. The latest figures released on Friday by the Land Registry indicate that the message issued by the Interior Minister in July has failed to reassure foreign real estate investors.

Row brewing over the Cyprus property price index

A row is brewing over the future of the Cyprus property price index. According to latest reports, RICS Cyprus has entered the fray and is planning to produce a regular property index starting in January 2010.

Title Deed problems tarnishing Cyprus says minister

At the recent real estate conference the Cyprus Interior Minister, Neoclis Sylikiotis, said the failure to process 130,000 title deeds snared in the system was tarnishing Cyprus’ reputation among foreign investors.

Golf course at Ayia Napa

The construction of a golf course at Ayia Napa on the east coast of Cyprus will be good for tourism and boost the area especially during the winter months, when the island offers good weather compared to northern European countries.

Concerns over the Cyprus property price index

Concerns have been raised by the Chairman of the Association for the Promotion of Property Developments about the future of the Cyprus Property Price Index and the involvement of the banks in its preparation.

Cypriot developers must address issues to compete internationally

To compete in the international property market, Cypriot developers must address issues such as escrow deposits, Title Deeds, planning and bank guarantees.

Cyprus property prices down

As the property crisis continues to worsen, prices of residential properties in the urban centres have dropped by more than 10%, while prices of summer residences have fallen between 30% – 40%.

Cyprus marina progress reports

Following the news item on the marina planned for Larnaca, progress reports on the marinas planned for Ayia Napa, Limassol and Paphos have recently been published by Stockwatch.

Report on destruction of sea caves at Paphos

As well as causing irreparable damage to the sea cave rock formations at Peyia in Paphos, large pipes have also been laid going into the sea. Inspectors need to visit Chlorakas, Peyia, Emba and Kissonerga on a daily basis and carry out extensive checks.

Stimulate Cyprus property sales by lowering prices

If developers in Cyprus want to stimulate property sales, they must lower their prices. Economic conditions have changed dramatically over the last year and people are not prepared to pay the same prices today as they were a year ago.

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