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All reports tagged with: "property scam"
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.
Home buyers left in lurch
We’ve all been strung along… the British government… the property buyers… everyone… we were all conned.
Cyprus popularity declines with British holiday home buyers
Cyprus’ popularity amongst overseas property investors from Britain is in decline according to reports from the overseas property portal PropertyIndex.com
Property awarded to couple after legal battle
A BRITISH couple came very close to losing their €680,000 property at Ayia Thekla in Cyprus when their developer sold it to someone else behind their backs.
According to Yiannos Georgiades, the couple’s present lawyer, the two Britons set up a company and bought the property in Ayia Thekla, which they planned to rent out. The [...]
Is buying property in Cyprus as safe as houses?
WHEN you buy a property in Cyprus, your right to ownership is guaranteed under the law. Depositing your contract of sale at the Land Registry allegedly prevents the vendor from selling it to someone else; or does it?
According to the Cyprus Interior Ministry:
“The deposit of a contract of sale at the Department of Lands & [...]
Cyprus and Hungary linked in property scam
YESTERDAY a Hungarian court ordered the leader of the Liberal group in one of the districts of Budapest to be held for 30 days while an investigation is conducted into fraud charges. Charges against György Gál, who is chairman of the district’s economic committee, involve the fraudulent sale of land belonging to the municipality.
Gál is [...]
Immovable property tax & fraudulent practices
The Immovable Property Tax law based on 1980 values is to most foreigners a very confusing concept which has no parallel in other EU countries. Relying on this confusion, developers ensnare and contain clients in the Title Deed trap.
Lobby slams property tax scam
A GROUP of Paphos expat home buyers who checked with the authorities how much they should pay in Immovable Property Tax (IPT) discovered that their developer was charging them each 500 times too much annually.
According to the website of the Inland Revenue Department, IPT is imposed on the value of the property as [...]
Brit loitering with intent aims to shame Cyprus into action
BRITISH home buyer Conor O’Dwyer marked his 39th birthday yesterday far away from his wife and children as he continued his indefinite protest outside the Cyprus High Commission in London.
O’Dwyer began his protest camping outside the Cypriot diplomatic mission this month because August marks two years since he was due to move his family to [...]
Property scam reported in UK stockbroker belt
Yesterday, Conor O’Dwyer’s plan to “sleep rough for justice” outside the Cypriot High Commission in St James’ Square London made front page news in the UK.
Conor’s story appeared in the Advertiser, a local newspaper distributed throughout Surrey’s famous stockbroker belt to the south west of the capital. The newspaper plans further reports of Conor’s progress [...]
Property insulation scam
THE Cyprus Green Party General Secretary, George Perdikis, yesterday claimed properties were being sold under the pretext of being insulated, when they in fact weren’t.
He claimed that financial interests were hidden behind a recent alteration of regulations for house insulations.
“Following the intervention of higher interests, the laws on insulation have been altered in a way [...]
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