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Archive for 2009

Fears of more unemployment in construction industry

The Chairman of the Cyprus Contractors Federation, Sotos Lois, fears that unemployment in the construction industry could rise to 20,000 next year.

Cyprus government urged to cut property taxes

The government of Cyprus has been urged to cut property taxes by the Land and Building Developers Association to help breath some life into the island’s beleaguered real estate market.

Cyprus property tax receipts plummet

Figures released by the Cyprus Inland Revenue Department reveal that tax receipts resulting from the sale and acquisition of property during the first eight months of 2009 have plummeted by more than €200 million compared to he same period in 2008.

Cyprus government Title Deed proposals

Earlier today, the Cyprus Sunday Mail published an article by Antonis Loizou FRICS in which he outlined the content of the bills that have been drafted by the Cyprus government to alleviate the Title Deed issue problem faced by many property buyers.

Larnaca marina project will boost construction sector

One of the largest infrastructure projects ever undertaken in Cyprus, the marina project involves the construction of a port, 1,000-berth marina, hotels and houses and is expected to inject up to one billion Euros into the Cypriot construction industry.

Cyprus divides industry on Title Deed proposals

The Cypriot government’s proposals for tackling the ongoing Title Deeds issue have split the property industry.

Cyprus construction sector shows signs of recovery

According to the latest figures from the Cyprus Statistical Service (CYSTAT) building permits for the construction of 2,125 residential properties were authorised in June 2009; up 28% on the 1,659 authorised in June last year.

Title Deed legislation too late for Paphos home ‘owners’

The Cyprus Interior Minister’s insistence that property investment in Cyprus is safe is of little comfort to a number of property buyers in Paphos whose developer has gone into liquidation and who face losing their homes.

BuySell Cyprus sues Brit for selling his own house

BuySell Cyprus Real Estate is suing a UK-based Briton for commission on the sale of his three bedroom house in Peyia even though he managed to sell it to a Greek Cypriot through his own efforts.

Estate agent gets wake-up call from bailiffs

Andrew Nolan, formerly of Cyprus estate agents Peter Stephenson Properties was woken at 6am by a bailiff from Bluemoon Investigations and investigative journalist Andrew Penman.

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