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Archive for April, 2008

Property groups join forces to battle for buyers rights

THE CYPRUS Land and Property Owners’ Association (KSIA) and the Cyprus Property Action Group (CPAG) have teamed up to explore ways of fighting for the rights of property buyers in Cyprus. KSIA is affiliated to the Cyprus Chamber of Commerce and Industry (KEVE) and is a long-standing member of the International Union of Property Owners.

Cyprus home prices in the first quarter of 2008 up 3.3%

HOUSE prices in Cyprus, in the first quarter of 2008, appear resilient in the face of worsening global economic conditions. From January to March 2008, the BuySell Home Price Index recorded a total increase of 3.3% compared to December 2007, bringing the year-on-year increase to 18.6%. House prices depicted a 3.6% increase during the first […]

Falling Cyprus property sales

ACCORDING to reports in the Phileleftheros and Cyprus Mail newspapers, Capital Gains Tax receipts resulting from the sale of property in Cyprus during the first quarter of 2008 have dropped by more than 5 million Euro. The reports states that receipts in the first quarter of 2008 fell to €90.86 million compared with €96 million […]

Backlash from Cyprus property developers

THE GOVERNMENT is facing a backlash from Cyprus property developers and estate agents over plans to introduce a 15% VAT charge on land purchases from July 1, with many saying the regulations are not clear. One estate agent said local buyers may now be priced

Gloomy Cyprus property figures and economic outlook

THE number of building permits issued for the construction of property in Cyprus continues to decline, reinforcing the IMFs gloomy economic outlook for the island. According to the Cyprus Statistical Service, CYSTAT, the number of permits authorised during January 2008 stood at 687 compared to 738 in January 2007. These building permits provide for the […]

Cyprus property price index reaches 173.6

FIGURES just released by CySTAT indicate that the price index of new properties in Cyprus has reached 173.6. Cyprus Statistical Service’s (CySTAT) quarterly index measures the changes in unit prices charged to clients for the construction of buildings. It includes the costs of materials used in the construction of property, labour, energy, transport, etc, as […]

Cyprus property scam reported on ITV

Many people will have read about the £3 million Cyprus property scam in Paphos involving J&I Estates, and their sole agent in Cyprus Peter Stephenson Properties. Ian Beaumont, the director, of J&I Estates was locked away for a £450,000 fraud in Kuwait. His “partner in crime”, Andrew Nolan of Peter Stephenson properties has twice been […]

Sylikiotis wants to halt Cyprus house price increases

THE election campaign slogan of newly elected President Demitris Christofias for a “just society” passes mainly through his Ministry, given the fact that the majority of the laws which regulate internal administration has to do with issues the Minister of Interior deals with. Neoklis Sylikiotis returns to the “Ministry of the Citizen”, as he calls […]

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