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Archive for November, 2006

Buying Property in Cyprus – the Specific Performance Law

(If you want to hear my discussion on the subject with Rosie Charalambous on CyBC Radio 2 you can listen to my podcast.) When buying any type of property in Cyprus, it is absolutely essential that your lawyer deposits your contract of sale with the District Lands’ Office within two months of you signing it […]

Enforce the Law or Take the Blame

A PARLIAMENTARY committee heard this week it was “pure luck” that more people hadn’t been killed in the devastating storms that struck the Paphos area last month, when flash floods swept a married couple to their deaths. The committee heard that the specific drainage system for the Kissonerga river, which broke its banks leading to […]

Uncontrolled Development

Sir,Further to your recent article where Mr Foukaras correctly sights Tala and Emba’s uncontrolled property development as the cause of the recent tragedy: In July 2004, I forwarded a letter highlighting the problems of high density development to the Director of Planning in Nicosia with copies to Paphos Director of Planning, the District Officer and […]

No Title Deeds–Security

It is a fact that new property take a long time to secure a title deed and this creates serious problems regarding ownership, finance, re-sale and other matters. At this point of time there is a serious debate that it is taking place in the House of Representatives on the subject, but we have not […]

House Prices Drop by 0.9%

HOUSE PRICES dropped by 0.9 per cent in the period September-October. The average home on the island now costs £91,625. The BuySell Home Price Index was created and is updated monthly on behalf of BuySell Cyprus Real Estate by the independent economic research organisation S. Platis Economic Research. The Index is announced during the second […]

Pure Luck More People Weren’t Killed by Storms

A HOUSE committee yesterday heard it was “pure luck” that there weren’t more victims in last months flash floods in which two people died. The drainage system of the Kissonerga river in Paphos, which overflowed during recent hailstorms and resulted in the tragic death of a married couple, was built over 25 years ago and […]

Construction Costs up by 5.15% in Jan-Oct 2006

According to the latest data from the Statistical Service, construction materials prices in the period January-October 2006 rose by 5.15% over the corresponding period of the previous year. The price index of construction materials for October alone reached 133.25 units (base year 2000=100.00), recording an increase of 0.65% over the previous month. The breakdown of […]

Stuck Waiting for Title Deeds?

Action can be taken through the courts to ensure receipt in a reasonable time to get there hands on long-awaited title deeds, home buyers should seek a court order which obliges the seller to take all duly and necessary actions to obtain the requested permits and approvals including the necessary application for the issuance of […]

The Rights & Responsibilities of a Cypriot Estate Agent

From the numerous letters that we have received (28) and are keep coming, it appears that, especially foreign people, have problems with the commissions involved in a sale and there is a complete confusion as to what the sellers/ estate agents rights and responsibilities are. For this reason we will attempt in this article, within […]

Buy to Let

Cyprus is becoming attractive with increasing number investors, whose prime consideration is to buy a property, in order to let it as an investment. The market is changing and from a 10% share, which originally represented this investment market, these buy-to-let buyers have surpassed now the 25% percentage of the foreign purchases. Residential returns are […]

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