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Archive for 2012

Credible counter proposal needed on bank seizures

The government must formulate a credible counter-proposal, aimed at providing a safety net for genuinely hard-up, house-owners as well as those who have paid for their properties and have no title deeds.

Title Deed mess must be considered by troika

Troika wants the banks to repossess homes held against non-performing loans within 18 months, but they cannot do this without taking into account the Title Deed mess that blights thousands of buyers.

How much do Title Deeds cost?

I am often asked the question “how much do Title Deeds cost and are they worth the expense?”; there is much confusion particularly amongst buyers from overseas who may not appreciate the benefits.

Homeowners need protection from troika proposals

Troika’s proposal to accelerate loan recovery by the banks could spell disaster for many home buyers; they could lose their homes within 18 months even though they may have paid for them in full.

Slump in construction activity continues

The Cyprus construction industry’s slump continued in July with building permit numbers rising slightly compared to July last year, according to the latest figures from the Cyprus Statistical Service.

High-ranking officials accused of abusing state housing

A Cypriot MP has said that government housing in Troodos is being “scandalously” abused by high-ranking state officials, while some properties have been sub-let to the private sector at ‘outrageously low’ rates.

Is litigation the answer?

Will a protracted legal battle against the Alpha Bank in Cyprus concerning the alleged mis-selling of Swiss Franc mortgages achieve a positive result or can more be achieved through negotiation?

Moody’s slashes Cyprus government bond ratings

Yesterday Moody’s Investors Service downgraded Cyprus’ bond ratings three notches further into junk territory and it’s ratings on three Cypriot banks citing “profound difficulties” in the island’s banking sector.

Government hunts property fraudsters in Switzerland

Undeclared deposits held by Cypriots in Switzerland relating to a property fraud scheme and the stock exchange scandal are being targeted by the government as part of its crack down on tax evaders.

Government tax hike will hit small home owners

Contrary to assurances given to the media by the Interior Minister Eleni Mavrou that small home owners would not be hit by increases in property taxes, government plans tell a different story.

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