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All reports tagged with: "title deeds"

Mortgaged property in Cyprus

I am in the process of buying an off-plan property in Cyprus and my lawyer has written advising me that: “The bank which has a mortgage on the project will issue a declaration confirming that the separate Title Deed issued for the property will not be burdened with the existing mortgage which is currently filed […]

Right the property wrongs

Property is a major contributor to the Cyprus economy. The Cyprus Land and Developers Association reported that the Cyprus construction industry has an annual turnover of EUR 1.73 billion. Revenues from property sales to non-Cypriots contribute some EUR 1.21 billion per annum of foreign exchange to the economy of the island. However, this revenue and […]

Cyprus title deed scams

Here are some of the Cyprus property ‘scams’ linked to the Title Deed problems reported by Andrew Winter on Channel 4 TV.

As safe as houses?

A PROMOTIONAL brochure from a major Cyprus property developer promises potential buyers ‘unique life-long experiences, the building of strong relationships with the human being, along with a combination of security, warmth, and affection towards the family’. This is the same company that has given an English couple one of the nastiest experiences of their lives: […]

Property scandal set to rock Cyprus market to the core

A scandal involving a leading property developer in Cyprus may have the potential to shake to the core the credibility of the holiday homes market on the island, following allegations supported by video evidence, contracts and audio evidence that a property developer in Paralimini sold a plot of land to Conor O’Dwyer in 2005 for […]

Cyprus Title Deed Nightmare Reported on Channel 4

“There are massive problems in Cyprus with Developers abusing property law to make huge profits for themselves…” – Andrew Winter

Cyprus property: Town planning goes online

CYPRIOTS will soon be able to monitor their application for town-planning permission over the internet. E-title deeds and other documents will be available over the web too at a later stage thanks to the Town-planning Department’s new website. The site, which will start operating on November 5, will offer the public relief from the tiring […]

Cyprus Property Rights – Real or Illusory?

Article 23 of the Cyprus Constitution is forthright about the property rights of individuals, including the provision for Government compensation in certain situations. However, as many property buyers soon discover, ideals enshrined in the Constitution have yet to be translated into effective consumer protection, rights and safeguards. This discovery comes as a nasty shock, particularly […]

Property buyers at the mercy of title deed traps

WE REFER to your article of September 22, “Law reform hopes to clear up title deeds trap“. This reported that the House Legal Affairs Committee had discussed the issue and it is very encouraging that the government is starting to address some of the pitfalls of buying property in Cyprus. A change in the law […]

The Cyprus Property File: Chickens Home to Roost

FOR THE CYPRUS PROPERTY sector, the current worldwide ‘credit crunch’ in banking adds to other hazards that may affect its attractiveness as an investment destination. Credit Crunch Hits Cyprus Property In May 2007, the local press reported that bank loans for building and construction were up 31% year on year to CY£2.36 billion. By July, […]

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