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Cyprus property sector should not expect help in crisis

ECONOMISTS and even a government official yesterday scoffed at any notion of state help if the Cyprus property market sector suffers in an extended financial crisis. Last week, the government said it was putting together a plan to combat any possible crisis. The plan, which is due to be announced shortly, will focus on the […]

Property action group releases Government report

FOLLOWING months of deafening silence from the Cyprus Government, the Cyprus Property Action Group (CPAG) has today released its report Cyprus Property Pitfalls: a time for ACTION. CPAG also calls on those who have been scammed by the rogues and conmen in the Cyprus property industry to write to their MEPs and MP urging them […]

Welcome to the property club Mr Clerides

IT SEEMS that 29,949 non-Cypriots are not the only ones waiting for Title Deeds to their property. It has been reported that former President of the Republic, Glafcos Clerides, is among the many thousands of Cypriot property buyers who have also been left twiddling their thumbs. Mr Clerides bought a holiday home at the Spyros […]

Planning: amnesty & development proposals

WE understand that a bill concerning an amnesty for property owners who have committed urban planning violations will be submitted to the Cyprus Parliament before the end of the year. Speaking to Parliament, Interior MInister Neoclis Silikiotis said: “It’s not an issue of urban amnesty only, but it is about mortgages to banks or other […]

MacAnthony malpractice judgement by NFOPP

The tribunal were appalled to hear of the Company’s misleading business practices, including unfulfilled promises of guaranteed rental returns and misleading descriptions of the facilities that would be available to owners.

Cluttons comes to Cyprus

Cluttons, the London based partnership of surveyors, has announced that it is extending its presence in the Mediterranean basin with an associated office in Athens. Cluttons Greece will oversee the markets of Greece and Cyprus and focus primarily on high-end residential properties. Robert Key, Managing Director of Cluttons Greece, commented: “Despite current global economic conditions, […]

Title Deed confusion for non-Cypriot property buyers

It’s been reported in the media that non-Cypriots trying to obtain the Title Deeds for their property are facing more confusion. According to the report, the Government has recently introduced a new set of rules, which makes the process even more difficult. We too were confused, and have looked a bit deeper into the situation. […]

New EU rules agreed for timeshare property

THE timeshare holiday rights of some 1.5 million European families will soon be better protected, as MEPs in Strasbourg are expected to endorse a compromise reached between Parliament and Council on the new Timeshare Directive. The directive seeks to enhance consumer confidence and legal clarity, which are essential to the growth of this sector, via […]

VAT on building plots from January 2009

We have just learnt that the EU does not intend to grant Cyprus a further postponement regarding the introduction of VAT on land sales. As a consequence, the purchase of plots will be subject to 15% VAT from 1st January 2009. The news comes as a blow to the economy and the Cyprus property market, […]

EU calls for halt to sales of Greek Cypriot property in the north

In Resolution 1628, the Parliamentary Assembly Council of Europe (PACE) has called on the authorities of the Turkish Cypriot community to “put an end to the sales of, and construction on, Greek Cypriot properties in the northern part of Cyprus“. PACE also called on the Turkish Cypriot community to: “confirm their commitment to reunifying Cyprus, […]

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