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Property chief elected new head of Cyprus bank

THEODOROS Aristodemou, the founder, Managing Director and Chairman of Aristo Developers Plc Group of companies, has been elected the new Chairman of the Bank of Cyprus. In a closely fought contest he beat his rival, the former Finance Minister Michalis Sarris, by a single vote. Aristodemou received the vote of 9 members of the Board; […]

Property protest during President Christofias London visit

Expatriate property buyers frustrated by the inept Cypriot judicial system are to protest at London’s Alexandra Palace on May 18th where the President of the Republic of Cyprus, Demetris Christofias, will address a gathering of the Cypriot community at 3pm. Problems suffered by property victims range from the non issuing of Title Deeds, structural faults, […]

Sotheby’s moves into Cyprus real estate

THE FIRST office of Sotheby’s International Realty Affiliates LLC will open in Cyprus by the end of the year, under an exclusive 25 year licensing agreement that will cover the Eastern Mediterranean region. Founded in 1976 providing independent brokerages with a

Property groups join forces to battle for buyers rights

THE CYPRUS Land and Property Owners’ Association (KSIA) and the Cyprus Property Action Group (CPAG) have teamed up to explore ways of fighting for the rights of property buyers in Cyprus. KSIA is affiliated to the Cyprus Chamber of Commerce and Industry (KEVE) and is a long-standing member of the International Union of Property Owners.

Backlash from Cyprus property developers

THE GOVERNMENT is facing a backlash from Cyprus property developers and estate agents over plans to introduce a 15% VAT charge on land purchases from July 1, with many saying the regulations are not clear. One estate agent said local buyers may now be priced

Sylikiotis wants to halt Cyprus house price increases

THE election campaign slogan of newly elected President Demitris Christofias for a “just society” passes mainly through his Ministry, given the fact that the majority of the laws which regulate internal administration has to do with issues the Minister of Interior deals with. Neoklis Sylikiotis returns to the “Ministry of the Citizen”, as he calls […]

Loan financing further reduced for Cyprus property buyers

THE Central Bank of Cyprus has stepped in once again to reduce loan financing for those buying property in Cyprus. In October last year the Bank reduced financing from 70% to 60%; but in spite of this move, housing loans continue to surge, reaching a record €8.26 billion in January this year. The new measures […]

Paphos property sold for 66 million

According to Stockwatch Ltd, KEO has sold its property at the Tombs of the Kings in Paphos to a joint venture of Athienitis and Aristo Developers for €66 million. According to newspaper “Politis”, the development will be uniform but the property will be separated in two parts, the commercial and the housing. Aristo will deal […]

Moratorium on golf courses

Ecologists have requested the Cyprus government to impose a moratorium on the issue of new licenses for the golf courses. In their announcement released today, they demanded the “freezing” of the procedures until the adoption of extraordinary measures to deal with the current water supply crisis. The Ecologists also requested the minimization of the water […]

Property developers move in

LAND developers are showing an interest in the Pyrgos Tylliria area, now that the prospect of the Limnitis checkpoint opening appears firmly on the agenda. Citing sources yesterday, Phileleftheros newspaper claimed that

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