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Archive for February, 2008

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 […]

New Cyprus president elected

LEFT-WING Cypriot leader Demetris Christofias has won the presidential election, defeating rival right-winger Ioannis Kasoulides. In a victory speech, he promised to work on re-uniting the divided island. Mr Kasoulides congratulated him on his victory and offered to help find a solution to the division of Cyprus. Cyprus has been divided since 1974 when Turkey […]

Illegal hotel conversions

THE Cyprus Technical Chamber (ETEK) yesterday accused the government of standing idly by while ailing hoteliers illegally convert their hotels into residential properties. ETEK has compiled a list of 30 hotels which have converted to apartment blocks without permission from the Town Planning Department. Six of the hotels are in Limassol and one was selling […]

Immovable Property Tax scam warning

THERE have been many reported scams where property developers demand ‘Immovable Property Tax’ from property buyers. But rather than being based on the assessed 1980 value of the property as prescribed by law, these property developers base their illegal calculations on the price the buyer has paid for a property (the contract sum) as shown […]

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 […]

Cyprus president ousted

The closest-ever election in the Republic of Cyprus has ended President Tassos Papadopoulos’s five years in power. The MEP Ioannis Kasoulides won the knife-edge poll by just 980 votes, after a turnout of around 90%. The former foreign minister will face Demetris Christofias, who came second, in a run-off vote next Sunday. The election is […]

Building permits top 20,000

Earlier today, the Cyprus Statistical Service (CySTAT) announced that during 2007, the number of dwelling units for which building permits had been authorised topped 20,000 for the first time ever, reaching a staggering 20,486. Although the numbers were slightly down for Nicosia and Paphos, they were up for Limassol, Larnaca – and most notably Famagusta, […]

Cyprus rejects coastal building ban

SIGNATORIES to the Barcelona Convention, an international agreement to protect the sea, have agreed to ban development within 100 meters of the coastline. A total of 14 Mediterranean countries signed a protocol of agreement in Madrid, under which they undertake to stop all building less than 100 metres (about 328 feet) from the coast. However […]

Property scams turning Brits away?

ACCORDING TO one local pundit, the number of Brits buying property in Cyprus will drop by 20%. It seems that media revelations about the many ‘property scams’ are having a negative impact on the islands property sales. Although some drop in sales may be attributable to the worldwide credit-crunch, the current weakness of Sterling against […]

Police investigate land fraud

LIMASSOL police have launched a second investigation into a 50-year-old man awaiting trial on charges of fraud, after a 63-year-old pensioner reported he had been swindled out of €5.5 million by the same Limassol contractor. When Louis Sideras, a repatriated British Cypriot, heard that Andreas Sophocleous was awaiting trial on charges of obtaining money under […]

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