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Archive for 2006

Warning Signs of Worse to Come

MY brother, Dr Christopher Solomon, a retired university professor (his quantum mechanics doctorate investigated Einstein’s Theory of Relativity), lives in a recently constructed bungalow just down the road from that burgeoning expat township of Peyia, situated high on the coastal hills near Paphos. He lives with his wife, Marjorie, a member of the ‘Women Write’ […]

Developer Held as British Families Complain of Fraud

PAPHOS police yesterday arrested and remanded in custody a developer on suspicion of obtaining money from four British families with intent to defraud. Costas Papaioannou, owner of Costas Papaioannou Developers Ltd, was remanded in custody for five days by a Paphos Court after a complaint was filed by lawyer Chrysa Christofi, who is representing the […]

Cyprus Building Permits up 13.6% in Jan-July

Civil engineering booms, hotels out of favour. The number of building permits authorised rose by 28.3% year on year to reach 788 in June and provided for 1,745 dwelling units. For the first seven months as a whole, the number of building permits authorised rose by 13.6% compared with the same period of 2005 and […]

Planning Changes Spark Controversy

EVEN before they are fully published, the Local Plans, extending the building zones in the major towns, are causing widespread controversy. What is causing the debate is the provision allowing detached homes to be built outside residential areas on agricultural land on the outskirts of urban centres. Explaining the finalisation of the plans by the […]

Unscrupulous Developers Need to be Taken to Task

DEPUTIES examining the long delays in the issuing of title deeds to homebuyers appeared to have finally understood the main cause of the problem after Monday’s House Interior Committee meeting. Light was shed on the problem by the director of the Land Registry Department Andreas Christodoulou, who said there were cases of home-buyers who had […]

Title Deeds Nightmare to End Up on Channel 4

BRITISH broadcaster Channel 4 is coming to Cyprus after being contacted by expats who have bought property on the island and not received their title deeds. The property boom over the past few years is one of the main causes of the problem as the authorities struggle to stay afloat, swamped with applications. Last Thursday, […]

Cost of Construction up 3.9%

According to CYSTAT data released on Monday, the Building Material Price Index recorded an increase of 3.9% in September 2006. Specifically, the price of electromechanical and industrial products showed an increase of 4.7% and 4.5% respectively, the increase in the price of oil products fell to 4.3% and the price of timber, stones and quarry […]

Where are the Best Areas to Buy Rental Property in Cyprus

Question We’re thinking about buying an Apartment, which we will need to rent out, what are the best areas to look at? Answer First, Do not go into the market with a buy-to-let strategy. You will most almost certainly find that rental yields are much lower than ‘promised’. A number of developers offer ‘guaranteed rental […]

Choosing your Property Developer

Don’t assume that bigger is better; the size of a company is no guarantee that its properties are of an acceptable quality. You may find that quality of properties built by some of the developers that target the expatriate market to be generally lower than those that target a wider audience. Always inspect properties under […]

Construction Quality

The quality of construction of Cyprus property varies greatly. If you are looking to buy a property, here are a few things you should look out for

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