Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: May, 2009

Cyprus petition deadline approaches

The deadline is approaching to add your name to the on-line petition calling on Gordon Brown to put pressure on the Cyprus Government to protect the rights of property buyers

Getting rid of this wretched Cypriot lawyer

Providing you have settled your account, you can dispense with this woman's services immediately and get yourself another lawyer. The British High Commission in Nicosia publishes a list of English speaking lawyers you can find by

Action group organises demonstration

CPAG is organising a peaceful demonstration against the Cyprus Government, which will take place

Hatton dream turns into nightmare

Derek Hatton's company that sold property in Cyprus is no longer in business, although his rental and management company is continuing as usual. According to a report in the Mail Online his company has been credit-crunched.

Cyprus tax receipts from property tumble

Reflecting Cyprus' stagnant property market, Capital Gains Tax receipts on the island tumbled in the first four months of the year; Stamp Duty and Immovable Property Tax receipts also fell.

Bank of Cyprus to cut mortgage rate

The Bank of Cyprus will cut its base mortgage rate by 1% in early June, bringing it down to 4.25%. However, overseas property investors may not benefit from the rate cut as it will only apply to mortgages

Cyprus question raised in Lords

Seeking to end speculation surrounding the Cyprus Government's promise to resolve the Title Deed problems encountered by thousands of British citizens who have bought property on the island, Lord Jones of Cheltenham has tabled a further written question in the UK House of Lords seeking a progress report on the matter.

Cyprus could suffer as EU monitors deeds fiasco

Despite an assurance by the government that an end to the title deeds shambles is in sight, many desperate home buyers are putting their faith in the EU in an effort to safeguard their properties.

Cyprus property exchange schemes target UK homeowners

There's a very real possibility that you could end up buying a property being blissfully unaware that it's mortgaged; you'll only discover this later, when you come to sell the property or when the bank comes knocking on the door to repossess it because the developer has not repaid the loan.

Cement sales confirm property problems

Further confirmation that the Cyprus property and construction sectors are facing serious problems came today with the release of domestic sales figures for cement by the Cyprus Statistical Service (CYSTAT).

HELP – I can’t pay the mortgage!

The worst thing you can do is bury your head in the sand and hope that the problem will somehow go away; it will not. The first thing you must do is discuss the problem with the bank that loaned the money

How to avoid buying into a bubble

It is very important how to work out what a property is actually worth, from a fundamental perspective. The Global Property Guide has written this article to help ensure you're not over-paying!

Tax rebate for British second homeowners

Many Britons who let out their European holiday homes could be entitled to a tax rebate under measures announced in April's budget. However, from next year

Housing loans highest in euro area

According to the European Central Bank, Cypriot banks charge the highest interest rates for housing loans in the euro area. The gap between the average housing loan in Cyprus and that of other countries in the euro area is 239 base points.

Real estate needs to go back to basics

In this time of great economic uncertainty and lack of liquidity, many real estate companies are looking for ways to effectively manage risk, streamline operations, and enhance their business relationships

Council of Ministers restriction lifted

We have been advised that non-resident EU citizens no longer require a Council of Ministers Permit to own property. We hope to be able to confirm this in the next few days.

Building permit numbers up

From the CYSTAT figures it is impossible to say whether the number of homes being built in Cyprus is increasing or not. It is common knowledge that developers build properties illegally

Developers hope for 2010 recovery

Property developers are optimistic that the real estate sector will recover from the economic crisis in 2010, provided the necessary measures are taken by the government.

UK updates travel advice

The UK Foreign & Commonwealth Office is advising Britons visiting Cyprus that "there are risks involved with purchasing property on the island of Cyprus" and that those contemplating buying property

EU petition launched on Title Deeds

The Cyprus Property Action Group (CPAG) has launched an online petition to the European Parliament on articles 17 and 38 in EU law, which it says are being violated by the 'unregulated' property sector in Cyprus.

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.