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Archive for July, 2015

Building extensions amnesty slammed

Opposition parties have slammed the new measures to legalise formerly illegal building extensions announced by the cabinet yesterday claiming that they give favourable treatment to property developers.

Illegal building extensions amnesty

The Cyprus government is to introduce new measures to legalise formerly illegal building extensions by allowing people to add 20 per cent of their building’s co-efficient until the end of 2020.

Title Deed regulations approved (updated)

The Cabinet has approved the Title Deed regulations needed to implement the ‘hidden mortgages’ law to protect home buyers in Cyprus who were duped into buying property that developers has previously mortgaged to the bank.

Cyprus property prices continue downward

Cyprus property prices continued to fall during the second quarter of 2015 according to the 23rd edition of the RICS (Royal Institution of Chartered Surveyors) Cyprus Property Price Index.

Reduced property transfer fees (update)

The law reducing the Cyprus Property Transfer Fees for transfers that take place before 31 December 2016 has been published and will be particularly welcomed by those waiting for their deeds.

Aristo innocent

Theodoros Aristodemou, the founder of Aristo developers and former chairman of the Bank of Cyprus and three others have been found innocent of all charges relating to the alleged illegal division land at Skali.

Troika turns up the heat on Title Deeds

Cyprus will not receive the next tranche of the bailout loan from the troika until it enacts legislation to protect those home buyers who have paid for their properties but have not received Title Deeds.

Construction activity worst in Europe

Construction activity in Cyprus suffered the biggest decline in production year-on-year in Europe during the first quarter of 2015 according to statistics published in yesterday’s Eurostat newsrelease.

Who is parliament trying to protect?

We have to ask the question who is the Cyprus parliament trying to protect following the decision of the House Finance Committee not to put the ‘hidden mortgages’ bill before a plenary meeting of the House.

Pissouri report this month

Home owners living in the Limnes (lakes) area of Pissouri met yesterday to hear what progress was being made to resolve the land slippage problem causing structural damage to their properties.

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