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28th March 2024
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Monthly Archives: November, 2009

Property buyers rights to be strengthened by new law

The Cyprus Interior Minister, Neoclis Sylikiotis, has asserted once again that the draft legislation currently under discussion is designed to strengthen the rights of property buyers and will create healthier conditions in the Island's real estate market.

Situation is critical says Cyprus Central Bank governor

Long term reforms are urgently needed to buffer the critical economic problems plaguing the island, the governor of the Cyprus Central Bank said yesterday.

Interest groups doubtful on Title Deeds legislation

Property groups in Cyprus remain sceptical of the effectiveness of the Title Deed legislation being proposed by the Interior Minister Neoclis Sylikiotis following his briefing to them last evening.

Built on greed and nepotism says Cyprus protester

The property industry in Cyprus is built on greed and nepotism. The developers borrow money from the bank using people’s homes as collateral and the banks and lawyers are part of the deception. I have proof that my home has been mortgaged by my developer.

Title Deed reforms worth millions next year

Based on assumptions about the charges levied for the issue of Title Deeds & expectations of the number of properties that will be processed, Neoclis Sylikiotis believes that the Cyprus Government could receive €160 million next year alone as a result of his reforms.

Bank actions cast doubt on Interior Minister assertion

The case of a divorced young woman reported in the Cyprus Weekly casts serious doubt on the Interior Minister’s assertion that it is not a simple matter for a bank to liquidate a property to recover a debt in Cyprus.

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