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Archive for 2008

Cyprus property owners association calls for action

THE Cyprus Association of Property Owners (KSIA) has added its voice to those calling on Government to resolve the Title Deed problems. Speaking yesterday at the Annual General Meeting of KSIA its president, George Strovolides, said that the problem is serious with more than 100,000 people without Title Deeds. “This unresolved issue is dangerous and […]

Cyprus property sector facing long recession

It seems that the Cyprus property sector will experience a long period of recession and things may deteriorate over the coming three years. Antonis Loizou made his forecasts on the current situation in a recent interview with Stockwatch and emphasised the fact that prices of tourist properties have already fallen by as much as 20%. […]

You cannot polish horse manure

EVERYONE knows there is a massive problem in Cyprus with unscrupulous property developers exploiting loopholes in the islands archaic laws to make huge profits for themselves. Exacerbated by intolerable bureaucratic delays in central and local government departments, the “Title Deeds-cum-fraud mess,” as one commentator recently referred to the problem, affects tens of thousands of Cypriot […]

British MPs and MEPs take up title deeds crusade

BRITISH MPs and MEPs have expressed their shock and concern over the title deeds scandal in Cyprus, and some have already taken the issue up with the government and the EU. “I find the accounts, which I have received of this chain of events scarcely credible,” said Nigel Farage MEP, the leader of the UK […]

Qatari Diar Real Estate and Cyprus sign deal

Qatari Diar are delighted to have signed this Memorandum of Agreement. We believe that this project highlights the strong relationship between our two countries and we look forward to working in Cyprus on the development.

Cyprus and Hungary linked in property scam

YESTERDAY a Hungarian court ordered the leader of the Liberal group in one of the districts of Budapest to be held for 30 days while an investigation is conducted into fraud charges. Charges against György Gál, who is chairman of the district’s economic committee, involve the fraudulent sale of land belonging to the municipality. Gál […]

Cyprus: Island of love or fraud?

Developers retain Title Deeds for many years and use them (without the express permission or even knowledge of the buyer) as collateral to obtain mortgages. While such mortgages exist, the deeds cannot be issued to the buyer.

British MEPs question Cyprus in Brussels

BRITISH citizens campaigning for their property rights in Cyprus are receiving support from their European Members of Parliament. Many have written to their MEPs asking them to put pressure on the Cypriot Government to act. The following letter was received today from Roger Helmer, MEP for Derbyshire, Lincolnshire, Leicestershire & Rutland, Nottinghamshire and Northamptonshire. Addressed […]

Please be patient, we are doing our best!

INTERIOR Minister Neoclis Sylikiotis has asked for patience over the issue of withheld Title Deeds as pressure mounts for the Government to take action. Mr Sylikiotis announcement was in response to a report that Lord Jones of Cheltenham had tabled two written questions in the British House of Lords on the problem; replies to which […]

20,000 Cyprus property industry workers face job losses

THE president of the Cyprus Construction Association, Sotos Lois, has said that 20,000 workers in the property industry may lose their jobs. Sotos Lois warned that if forecasts of a 40% drop in construction sector activity prove to be true, lay-offs could not be avoided. At a press conference today, he noted that sackings in […]

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