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Archive for June, 2011

EU funded scheme to make property purchasing safer

A pilot scheme that promises to end the problems experienced by expatriates when buying property in other European Union countries has been highly praised by EU parliament vice president Diana Wallace MEP.

Comments on property issues provoke sharp reaction

Observations made UK Minster for Europe David Lidington about the Title Deed ‘problems’ in the north and south of the Island provoked a sharp reaction from the Cyprus government.

Former Teesside rave club owner to face the music

Gary Robb, convicted drug dealer and former Teesside rave club owner, will soon be facing the music in Cyprus in connection with alleged dealings in usurped Greek Cypriot owned property in the Island’s occupied areas.

Guilty of tax evasion unless you prove otherwise

The Land Registry is effectively finding you guilty of tax evasion and defrauding the state of much-needed tax revenues if it inflates the amount you have paid for your property when calculating your property transfer fees.

Is help at hand with Title Deeds?

Property firms offer their services to obtain the all-important Title Deed to properties that buyers have purchased; developers and other advise caution, while some criticize them as “preposterous” or “scams”.

Use an independent lawyer not an ambulance chaser

If you have concerns about your property purchase, engage the services of an independent fully qualified and registered lawyer; do not use an ambulance chaser.

No decision on proposals to hike property tax

Although President Christofias has won support to impose a tax of €1,000 a year on profitable companies, no decision has been reached on plans to increase the tax on property.

Cyprus construction industry shows no sign of recovery

The Island’s construction industry is still struggling through recession according to the Federation of Building Contractors Associations of Cyprus (OSEOK) with a third of its workers unemployed.

House prices drop, bad loans rise

In April we reported that the price of property in Cyprus had fallen by more that nine percent during 2010; our figures were based on the RICS (Cyprus) Property Price Index. In its latest Economic Bulletin, the Central Bank paints a somewhat rosier picture.

Club hits back at world’s tallest statue project critics

Plans to build the world’s tallest statue at Pentakomo/Monagrouli on Cyprus’ southern coast have come in for so much criticism in the local media that the local representative of the Russian Institute has hit back at its critics.

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