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Archive for October, 2008

Using our apartment as collateral for a loan etc

WE PURCHASED an apartment on the ground floor of a three-story block of six and were told that Title Deeds would be forthcoming in no longer than six-years which at the time we thought was fair because we had heard ‘the’ horror stories. However, what we did not know, because we had never had a […]

Lobby slams property tax scam

A GROUP of Paphos expat home buyers who checked with the authorities how much they should pay in Immovable Property Tax (IPT) discovered that their developer was charging them each 500 times too much annually. According to the website of the Inland Revenue Department, IPT is imposed on the value of the property as it […]

Title Deed delays affect 30,000 non-Cypriots

During the last three and a half years, 4,400 properties have been transferred to non-Cypriots while the transfers of a further 29,949 are still in the pipeline according to figures published by the Department of Lands and Surveys.

Cyprus property loans surge

ACCORDING to figures released on Tuesday, property loans have surged by 33%. The loan portfolios of the Cyprus banks grew by 34.86% in August compared with 35.24% in July and 21.9% in August 2007. Loans totalling €49.8 billon were granted compared with €36.9 billion in August 2007. Consumer loans grew by 38% while business loans, […]

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