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Reports written by Cyprus Property Action Group

CPAG update on transfer taxes and IPT

Earlier today CPAG, the Cyprus Property Action Group, issued an update regarding transfer taxes (Property Transfer Fees) and IPT (Immovable Property Tax)

Demonstrations against Cyprus banks

CPAG is organising a series of demonstrations in efforts to force the banks in Cyprus to disclose details of mortgages taken out by property developers to those homebuyers who have been duped into buying mortgaged property.

Cyprus property action group – update

The Cyprus Government is responsible for the lack of regulation and law enforcement in the property sector must now take full blame for any bad publicity resulting from their abject failure to act.

Immovable property tax & fraudulent practices

The Immovable Property Tax law based on 1980 values is to most foreigners a very confusing concept which has no parallel in other EU countries. Relying on this confusion, developers ensnare and contain clients in the Title Deed trap.

Cyprus – on the commission trail, buyer beware!

Just as anyone in Cyprus can become a property developer overnight without any requirement for qualifications, regulation or financial standing, there are even more permutations at the selling end of the current Klondike-like rush for gold. Space inhibits the complete range of occupations involved in this national sport. However, some of the potential players could […]

Cyprus Property Rights – Real or Illusory?

Article 23 of the Cyprus Constitution is forthright about the property rights of individuals, including the provision for Government compensation in certain situations. However, as many property buyers soon discover, ideals enshrined in the Constitution have yet to be translated into effective consumer protection, rights and safeguards. This discovery comes as a nasty shock, particularly […]

Property buyers at the mercy of title deed traps

WE REFER to your article of September 22, “Law reform hopes to clear up title deeds trap“. This reported that the House Legal Affairs Committee had discussed the issue and it is very encouraging that the government is starting to address some of the pitfalls of buying property in Cyprus. A change in the law […]

The Cyprus Property File: Chickens Home to Roost

FOR THE CYPRUS PROPERTY sector, the current worldwide ‘credit crunch’ in banking adds to other hazards that may affect its attractiveness as an investment destination. Credit Crunch Hits Cyprus Property In May 2007, the local press reported that bank loans for building and construction were up 31% year on year to CY£2.36 billion. By July, […]

The continuing Cyprus property debate

First, let me say that we are sorry to hear that you are also suffering at the hands of an unscrupulous property developer. Would you consider registering your problem on our website at www.cyprus-property-action-group.net? We know it’s of little comfort to you, but you’re not alone. More than 2,000 people, both Cypriots and foreigners, have […]

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