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Archive for 2008

Cyprus 13th in Top of the Props

IN THE September 2008 Top of the Props chart published by themovechannel.com, Cyprus maintains its position at number 13. The most popular investment destination for British overseas home buyers for a second successive month was the USA, followed by Portugal (up 4 places to number 2) and the United Arab Emirates (up 1 place to […]

Property action group releases Government report

FOLLOWING months of deafening silence from the Cyprus Government, the Cyprus Property Action Group (CPAG) has today released its report Cyprus Property Pitfalls: a time for ACTION. CPAG also calls on those who have been scammed by the rogues and conmen in the Cyprus property industry to write to their MEPs and MP urging them […]

EU predicts slowdown in Cyprus property market

THE EU Economic Forecast autumn 2008 predicts a slowdown in the Cyprus Property market. Global growth slows sharply and with the financial crisis having escalated, economic growth in the euro area and the EU grinds almost to a standstill. Subdued real estate activity weighs on 2009 In 2009, economic activity is foreseen to decelerate further […]

What hope for justice in Cyprus?

WHEN Interior Ministry official Savvas Ioannou was questioned by Jean Christou about the ‘Immovable Property Tax Scam’, he was reported as saying: “This is not a matter where the state can intervene, but if a buyer feels that any term in the contract is abusive, this can be examined by the courts in the context […]

Cyprus property lawyer says contract cancellation fees are illegal

A major problem has been created by greedy property developers who insist on claiming cancellation fees from purchasers. The developers try to take advantage of buyers who wish to re-sell property purchased without a separate title deed.

Property buyers get “one finger salute” from Government

Home buyers and property investors will be outraged to learn that the Cyprus Government has given them a “one finger salute” by refusing to take action against property developers who illegally demand money from them under the guise of ‘Immovable Property Tax‘. A widely reported example of this scam involves an 83 year old British […]

Can we get our money back?

WE are new to all this and hoping for some help and advice. We paid a reservation fee of £2,500 to an overseas property marketing company in the UK for an off-plan apartment in Kiti. Having returned from their viewing trip to Cyprus and despite them trying to persuade us to use their lawyer, we […]

Top 5 tips: Buy Cyprus property safely

Buying property is not a process to be rushed. You need time to research the market as a whole and your particular destination of choice.

Welcome to the property club Mr Clerides

IT SEEMS that 29,949 non-Cypriots are not the only ones waiting for Title Deeds to their property. It has been reported that former President of the Republic, Glafcos Clerides, is among the many thousands of Cypriot property buyers who have also been left twiddling their thumbs. Mr Clerides bought a holiday home at the Spyros […]

Buy-to-let apartment rental yields

BUY-TO-LET investors in Cyprus are feeling the sharp end of the property market slowdown. The global credit crunch, exchange rate issues and falling rental yields have left many in a difficult financial position. Yet many developers and overseas property marketing companies continue to promote the island as an ideal investment opportunity claiming that Cyprus has […]

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