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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 […]

Another scam bites the dust?

DISREPUTABLE Cyprus property developers extort ‘contract cancellation fees’ from buyers wishing to sell their property before Title Deeds have been issued in the buyers’ name. I have personally heard from some buyers who have been charged as much as CYP 20,000 (€ 34,000) by these ‘crooks’ for the privilege of selling a property they have […]

European house price boom ‘is over’

The great European house price boom ended in 2007 according to a new report predicting storm clouds on the horizon for the Continent’s property markets. Only Cyprus and Iceland saw house prices outstrip the previous year’s performance, according to the Royal Institution of Chartered Surveyors report, which called the end of the property goldrush. Report […]

Top 10 property contract clauses

When you instruct a lawyer in Cyprus you trust them to include everything that needs to be included in the contract purchasing the property to protect you. Sometimes it is only when things go wrong that you realise that something extra could have been added into the contract to protect you. As a non-specialist it […]

The sky’s the limit

THE RISE in real estate prices, coupled with an unprecedented development boom, have been established as an entrenched reality in Cyprus over recent years. Limassol is currently host to numerous exclusive residential projects, including a project marketed as “the most exclusive in the Mediterranean”, offering accommodation for sale up to a staggering €12.5 million. The […]

Developers ‘scamming buyers’ over property tax

THE CYPRUS Property Action Group (CPAG) has obtained a legal opinion which concludes that developers are effectively scamming buyers by overcharging them for Immovable Property Tax (IPT) and pocketing the difference. “This is a massive fraud,” said the CPAG’s Denis O’Hare. “We want this money back and we want prosecutions“. The CPAG said property developers […]

Conor O’Dwyer stages UK protest

BRITISH home buyer Conor O’Dwyer will begin a three-day protest outside one Britain’s biggest property fairs in a move that could seriously damage the lucrative industry in Cyprus. O’Dwyer, 38, told the Cyprus Mail yesterday that he and his wife would protest outside The Homebuyer & Property Investor Show at ExCeL in London, which begins […]

Top 5 legal tips for property buyers

BUYING a property in Cyprus can be a daunting experience, particularly if you are unfamiliar with the system here. You need to find a lawyer you can trust, who will act for you independently and make sure that your position is fully protected… the problem is – how do you know if your lawyer is […]

Try before you buy

IF YOU PLAN on living in Cyprus but are uncertain about where exactly you want to live or have some lingering doubts as to whether you really want to live here permanently, start off by renting somewhere to live. You should rent for at least six months, ideally a year, and get to know the […]

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