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MRI clients in Cyprus – no furniture, no refund
MRI clients, who bought apartments in Cyprus, say that furniture “packs” costing an average of €15,000 per apartment had still not been delivered months, in some cases years, after they were due.
Final contracts for Limassol marina signed
Yesterday Antonis Paschalides, the Cyprus Minister of Commerce, signed the two final agreements signalling the start of construction work on the Limassol marina.
RICS Cyprus property price index
Designed by Dr Pat McAllister from the Reading University Department of Real Estate & Planning, the RICS (Cyprus) property price index will be launched on Friday 29 January in Nicosia.
Orams must demolish house in occupied north Cyprus
David and Linda Orams will have to demolish their house in occupied northern Cyprus after the Court of Appeal ruled orders from a Nicosia court must be enforced.
Govt figures confirm Cyprus meltdown
The scale of the recession’s damage to the overseas property market in Cyprus has been revealed by official figures that show an 84% drop in sales to non-Cypriots since peak.
Approach to property tax causing confusion
The Cyprus government plans to raise money by adjusting the valuation of real estate, which is still being calculated at 1980 prices, has sparked a political storm that has added to the general confusion surrounding the issue.
Cyprus property tax hike attacked
The Cyprus Democratic Rally Party’s Vice President, Averof Neophytou, has attacked the proposed tax hike on property calling it a tax raid by the government on 90% of Cypriot citizens.
Misleading holiday home advertisements banned
A Cyprus property owner has been rapped by advertising watchdogs for posting misleading and untruthful descriptions of an apartment and luxury villa on holiday websites by the Advertising Standards Authority in the UK.
Desperate developers fall prey to funding fraud
Developers in Cyprus may have fallen for an alleged £12 million fraudulent loan scheme in the UK according to a report from the Overseas Property Professional (OPP), highlighting their vulnerability at a time when commercial funding is much harder to source.
Limassol marina weighs anchor
After more than 20 years of planning, proposals, legal wrangling and bureaucratic delays, construction work on the first of the five big marina projects in Cyprus may start in the next couple of months.
Title Deed reforms worth millions next year
Based on assumptions about the charges levied for the issue of Title Deeds & expectations of the number of properties that will be processed, Neoclis Sylikiotis believes that the Cyprus Government could receive €160 million next year alone as a result of his reforms.
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