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Archive for June, 2010

Massive development planned for Cyprus

Plans for the largest development ever to be undertaken in Cyprus have come to light. We understand that the massive construction project, which will create 6,000 new jobs and attract more than half a million tourists each year, will get under way shortly.

Holiday home swimming pool safety

The safety of swimming pools, particularly in buy-to-let holiday homes, in Cyprus is a concern for both the owners of the holiday homes and those who rent them. The European Child Safety Alliance EuroSafe has published a document containing advice on how to protect youngsters in pools.

Yet another Immovable Property Tax scam

Just when we thought we had reported all of the Cyprus Immovable Property Tax scams, yet another one rears its ugly head; this time by a well-known Paphos-based developer.

Cyprus joins EU excessive deficit watchlist

The EU is proposing that the public finances of Cyprus, along with those of Denmark and Finland, requires further scrutiny as it poses a threat to the wider European economy.

ETEK calls for demolition of illegal buildings

The Cyprus Scientific and Technical Chamber (ETEK) has called on the government to demolish illegally constructed buildings, according to a recent report in the Greek language newspaper Politis.

Castles Built on Sand

Dr Alan Waring considers the growing problems with the Cyprus property market and wonders where it is heading and if there are ways to prevent the industry from destroying itself.

Aristo Developers subject of MEP question

Aristo Developers, a Cyprus property development company, was the subject of a question raised in the European Parliament by Syed Kamall MEP for London who is seeking advice for one of his constituents.

Further decline in property prices

The Central Bank of Cyprus anticipates that property prices will continue to fall in 2010 according its June economic bulletin and warns that the risks to the banks will be greater if the slump in property prices is higher than expected.

Dream holiday home nightmare for British couple

It is not only property buyers in the free areas Republic of Cyprus who are at risk of losing their homes if developers fail to service their mortgage debts. Buyers in the Turkish occupied areas of the island have already started to lose their homes as a result of unpaid loans. An omen of things to come in the South?

MEP calls for Cyprus fact-finding mission

MEP Daniel Hannan has called on the EC to send a fact-finding mission to Cyprus to investigate the Title Deed problems in a further written question to the European Commission.

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