Property Scams section
Yet another Immovable Property Tax scam
Just when we thought we had reported all of the Cyprus Immovable Property Tax scams, yet another one rears its ugly head; this time by a well-known Paphos-based developer.
Cyprus property market speculators lose out
Foreigners who invested in property on the divided island of Cyprus have found their houses were in many cases built by debt strapped developers.
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.
Cyprus real estate agents – how to avoid the cowboys
A law passed in 2004 and subsequently amended in 2007 was designed to rid Cyprus of the numerous cowboy real estate agents. But unfortunately, in all of the property hot-spots, you will still find many individuals and companies trading in property illegally.
British police probe Cyprus villas scam
British police are investigating an Internet scam in which Britons paid morairaway.com and sister websites for non-existent Cyprus holiday villas after adverts appeared on villa rental sites Holiday-Rentals and Holidaylettings.co.uk
BuySell Cyprus sues Brit for selling his own house
BuySell Cyprus Real Estate is suing a UK-based Briton for commission on the sale of his three bedroom house in Peyia even though he managed to sell it to a Greek Cypriot through his own efforts.
Man held over Limassol land fraud
A 40-year-old man has been remanded in custody after allegedly obtaining around €2m from his Russian business partner by falsely offering to provide him with acres of land.
Cyprus property exchange schemes target UK homeowners
There’s a very real possibility that you could end up buying a property being blissfully unaware that it’s mortgaged; you’ll only discover this later, when you come to sell the property or when the bank comes knocking on the door to repossess it because the developer has not repaid the loan.
Cyprus developer appears in court
Accused of causing grievous bodily harm to Conor O’Dwyer, property developer Christoforos Karayiannas and others appeared in the Famagusta District Court yesterday
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.
