Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: June, 2009

Legal stakes raised in Cyprus Title Deed scandal

A case about to come before the UK High Court in London against several Cypriot developers and lawyers could help to create a healthy property system in Cyprus according to Dr Katherine Alexander-Theodotou.

HM Government replies to Lord Jones

“Those contemplating buying property in Cyprus must proceed with caution and seek qualified legal advice from a source that is independent from anyone else involved in the transaction.”

Sylikiotis shoots from the hip

If some of the smaller developers are now close to bankruptcy, then allowing them to go bankrupt would send a clear message to the rest of the market.

Cyprus in court over title deed delays

The landmark case could not have come at a worse time for Cyprus that has celebrated the legal victory against a British couple who have developed land in the Turkish-occupied north owned by a Greek Cypriot refugee and who are being forced to give up their assets in the U.K. as compensation.

Property developer collapses

The reason the company has collapsed is not the crisis, but the fact that Cyprus’ legal and regulatory framework allows a builder with five years’ experience to set up as a developer and apply his own standards of commercial behaviour.

Prices in Cyprus down & worse to come

Prices and demand for property have been falling across Cyprus since autumn 2008; Limassol is the only town where prices are still moving upwards.

Cyprus minister denies ignoring deed issue

According to a statement issued to OPP the Cyprus government has not stated that the measures that are being studied will not concern those who have already bought houses or other buildings. But precisely how the new measures will help is unclear.

Proposals to accelerate Cyprus title deeds

The Finance Minister has received a number of proposals from the European party on ways that the process of issuing Title Deeds may be accelerated.

Non-Cypriot demand for property collapses

Demand for properties by non-Cypriots in the first five months of the year has fallen by nearly 80%. Some estate agents believe that a full recovery will not happen before 2012.

Cyprus tax receipts continue to fall

Capital Gains Tax receipts in Cyprus, Stamp Duty and Immovable Property Tax continue to fall as a result of the on-going slump in the real estate market.

Qatari investment deal collapses

It seems that the Qatari plans to invest in the development of a €500 million mixed-use real estate project in Nicosia may have collapsed

Cyprus courts in chaos

A letter from a lawyer published in the Cyprus Mail recently suggested that property buyers who had run into difficulties legal with their developer could seek redress through the courts.

A good time to buy

Over the last three months, prices of property in Cyprus have fallen by around three per cent, which although modest, is part of a trend that will probably be gradual. We should see more of a price reduction in the second quarter.

Reactions on call for Cyprus ban

Whether or not you agree with Lord Jones’ calls for the UK Government to take positive steps to protect British citizens buying property in Cyprus and put pressure on the Cyprus government to clear up the mess, he certainly seems to have ruffled a few feathers!

UK politician calls for Cyprus ban

Cypriot property companies have described calls by Lord Jones of Cheltenham for their UK offices to be closed and for their presence at exhibitions to banned as "extreme".

Ban Cyprus property companies and close their UK offices

Lord Jones of Cheltenham has called on the British government to close the UK offices of Cypriot companies selling property and to ban the promotion of Cyprus property at overseas property exhibitions.

Cyprus building permits March 2009

It is difficult to draw any conclusions from the CYSTAT figures as developers in Cyprus often start construction work before the authorities have issued the building permits.

State must find a solution for Title Deed mess

The Cyprus Government must find a solution to the Title Deed mess that safeguards the interests of banks, helps developers raise funds and totally ignores the interests of property-buyers.

Home buyers left in lurch

We've all been strung along… the British government… the property buyers… everyone… we were all conned.

September start for Limassol marina

According to the Mayor of Limassol, Andreas Christou "The construction of the Limassol Marina is of national importance to Cyprus as it will benefit the city's trade and economy".

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.