Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Yearly Archives: 2008

How to reduce your risks when buying off plan

If you're buying an off-plan property in Cyprus for which Planning and Building permits have not been issued, the easiest way to reduce the risks and protect your interests is to put your stage other payments in escrow until such time as the property developer presents the required permits to your escrow agent.

Construction material prices up

ACCORDING to figures released by the Cyprus Statistical Service, CYSTAT, the price of construction materials during the 12 months ending May 2008 increased by...

New Title Deed law by year end

INTERIOR MINISTER Nicos Sylikiotis has assured property buyers that newly proposed legislation to resolve problems in the sector could be implemented by the end...

Tax revenues plummet as property boom ends

THE Cyprus Inland Revenue Department has released details of total tax revenues collected during the first 5 months of 2008. Overall revenues stood at...

Who really owns your home?

WITH the Cyprus property market finally slowing down and more disreputable developers entering the fray, an increasing number of property buyers could be at...

VAT refund for property buyers

I'M really confused with this setup of the VAT returned for first time property buyers in Cyprus. My lawyer has advised me that when...

Top 10 tips on what to do on discovering problems with your new property

Having taken delivery of a new property, some buyers discover they have problems. This article has been by Louise Zambartas, a dual qualified English Solicitor and Cyprus Advocate, advising people what do do if they find themselves in this situation.

Cyprus against the spoiling of its coastline

A petition has recently been started for the demolition of an illegally built pier in the Fig Tree Bay area of at Protaras on...

Paphos marina coming soon

IN a hotly contested bidding contest between 'Leptos' and 'Aristo' (whose chairman is also the new chairman of the Bank of Cyprus), it appears...

No-one is interested in buying

WE have a small apartment in Kapparis on the east coast of Cyprus that we bought with the intention of renting to tourists. The...

No title deeds – no sale

LAST week, Jean Christou reported how an elderly woman, who has been waiting for the Title Deeds to her property since 1982, was being...

Top 10 tips on buying land in Cyprus

Every property purchase has individual factors which make it unique and in the case of buying land in Cyprus there are some special considerations...

Encouraging better land use

The Cyprus Government seems determined to introduce measures to encourage better land use in urban areas. Over the next few weeks the Finance Ministry is...

Construction activity in recession

ACCORDING to the latest figures provided by Cyprus Statistical Service, CYSTAT, construction activity is going through a recession. The number of building permits issued during...

Misleading property advertisements

MANY people have been duped into buying property in Cyprus through the use of misleading advertising. Much of this makes outrageous and totally unsubstantiated claims...

VAT delay on Cyprus land

Cyprus' Minister of Finance, Charilaos Stavrakis, says the Government is confident that it will be able to secure a postponement of the introduction of...

Elderly widow victim of property scam

AN 83-YEAR-OLD British widow who has been waiting 29 years for the title deeds to her home was shocked recently to receive an Immovable...

Estate agent arrested for property fraud

AN estate agent has been arrested on suspicion of defrauding two property buyers out of approximately €290,000. The estate agent, a 39 year old foreign...

Property loan growth accelerates

LOAN growth in the domestic market accelerated in April, driven by property loans and loans to non financial organizations. According to Central Bank data released...

Cyprus bank eases loan restrictions

THE Central Bank of Cyprus has eased the loan restrictions for the purchase or construction of second properties from 60% to 70%. According to a...

Most Read

Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.

Historic collapse of property sales

Property sales in Cyprus have collapsed as a result of the coronavirus pandemic to a level only seen once before when the events of March 2013 made Cyprus a household name around the world.

Building permits maintaining strong growth

The number of building permits authorised in Cyprus during February 2020 provided for the construction of 680 new homes; an increase of 18 per cent compared to February 2019 according to official figures.

Cyprus passport programme under fire again

The Cyprus citizenship by investment programme, which enables well-heeled foreigners to obtain an EU passport for investments of at least €2 million, has come under fire again from the European Union.