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All reports tagged with: "house"

Elderly widow victim of property scam

AN 83-YEAR-OLD British widow who has been waiting 29 years for the title deeds to her home was shocked recently to receive an Immovable Property Tax (IPT) bill from her developer, Korfi Mountain Estates Limited, for €25,000 when it should have been around €430. The IPT bill amounts to nearly 50 per cent of the […]

Estate agent arrested for property fraud

AN estate agent has been arrested on suspicion of defrauding two property buyers out of approximately €290,000. The estate agent, a 39 year old foreign woman from Paphos, was arrested last Tuesday when she arrived at Larnaca airport aboard an incoming flight. Two complaints have been filed against the woman, both by foreign nationals. The […]

Cyprus bank eases loan restrictions

THE Central Bank of Cyprus has eased the loan restrictions for the purchase or construction of second properties from 60% to 70%. According to a local newspaper report, the Governor of the Central Bank, Athanasios Orphanides, informed the banks on Tuesday that the Central Bank examined the market data and decided to review the lending […]

London property protest

A GROUP of British expats frustrated with the judicial system in Cyprus protested at Alexandra Palace London on Sunday where President Demetris Christofias was addressing a gathering of UK-based Cypriots. The protest was led by Conor O’Dwyer, 38, from Surrey who bought a house off plan in Cyprus in 2005 and has since entered in […]

2008 property sales down 30 percent

THERE was a 30 percent reduction in sales of property in Cyprus during the first four months of 2008 compared to previous years, the House Commerce Committee was told yesterday. The statement was made by the deputy head of the Town Planning Department, Christodoulos Ktorides, who added that £370 million were received in transfer taxes […]

Resale property scam warning

Without Title Deeds, the buyer must come to an ‘arrangement’ with the person in whose name the property is registered; invariably this is the property development company from whom they bought the property.

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, […]

Property issues in Cyprus and Spain

A lot of the letters I receive from members of the public, as well as MPs and MEPs writing on behalf of their constituents, are about problems people have experienced buying property abroad. I’m really pleased that lots of British citizens are investing like this throughout the EU – making the most of how easy […]

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.

Cyprus home prices in the first quarter of 2008 up 3.3%

HOUSE prices in Cyprus, in the first quarter of 2008, appear resilient in the face of worsening global economic conditions. From January to March 2008, the BuySell Home Price Index recorded a total increase of 3.3% compared to December 2007, bringing the year-on-year increase to 18.6%. House prices depicted a 3.6% increase during the first […]

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