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Archive for March, 2011

Cyprus economy downgraded again

Standard and Poor’s has downgraded Cyprus’ sovereign credit rating by one notch and set the outlook as ‘negative’ as a result of the Island’s significant exposure to Greece.

Larnaca golf property action group announcement

The Larnaca golf property action group is putting a group together to work with a specialist legal team to seek compensation from the Tersefanou developers.

Power of Attorney documents – certification & validity

If a Power of Attorney document has not been legally certified in accordance with the laws of Cyprus, it may result in the mortgage of the property being declared null and void according to one of the Island’s leading law firms.

Building permits up but residential construction slows

Although the number of building permits issued in Cyprus in January 2011 increased over the previous year, the number of permits issued for the construction of residential properties continues to fall.

Cyprus’ most expensive residence is up for sale

Due to be completed later this year the Santa Barbara Residence, a unique seven bedroom beach front residence in the Amathus area of Limassol, is up for sale.

EC replies to legal rulings on Cyprus swimming pools

Antonio Tajani, the European Commissioner for Enterprise & Industry, has replied to a question raised by Arlene McCarthy MEP concerning the licensing of swimming pools in Cyprus and legal proceedings taken by the authorities against some owners.

Majority of Cypriot planning amnesty laws passed

Yesterday the Cypriot Parliament passed the most of the ‘town planning amnesty’ legislation aimed at tackling the morass of properties without Title Deeds in Cyprus.

ROPUK sells to Millbak Wealth after tough times

ROPUK, who have been active in several Cyprus towns and villages including Larnaca, Paphos, Limassol, Protaras and Paralimni has been sold to Millbak Wealth.

Property management company ceases trading

A Spanish-based property management company with offices in Cyprus has announced that it has ceased trading due to attacks on its business.

Focus of the Cyprus town planning bills was wrong

The main focus of Cyprus government’s town planning bills was to raise revenues for the state rather than providing a sound legal framework to ensure the immediate issue of Title Deeds.

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