Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Monthly Archives: April, 2010

Cyprus protest saves new projects

Following last weeks protest outside the Paphos town hall by Alpha Panareti, the Cyprus government has approved several of their construction projects including a mini-marina and solar energy system.

Agreement signed for Tersefanou golf course

The construction of the long-awaited golf course at Tersefanou, near Larnaca in Cyprus, should get underway soon following the signing of an agreement yesterday between Med Golf and the state.

Is a property only worth what someone will pay for it?

An in-depth article by Charles Charalambous in the Cyprus Mail looks at the property transfer tax system and the consequences for property buyers resulting from the Land Registry re-assessing the amount tax payable using its own historical data.

Cyprus Property Action Group silenced by libel threat

Following a writ moved by Armonia Estates and Pantelis Leptos, the Cyprus Property Action Group has decided to close down its existing website.

Landmark ruling by the Supreme Court

In a landmark ruling, the three-judge panel of the Supreme Court of Cyprus has found a Cypriot lawyer to be professionally negligent and liable to compensate a British couple for money they lost as a result.

Arrogant developers damaging Cyprus

The arrogance still being shown by developers towards foreign buyers on the Title Deeds issue is scandalous. They don't seem to be aware of just how much lasting damage they have done to the market and to Cyprus.

Agreement between Cyprus and Qatar approved

The Council of Ministers has officially approved the agreement signed on Wednesday between Cyprus and Qatar for the creation of a joint venture for a major project in Nicosia, which will include a five - star hotel, apartments, offices and a commercial centre.

Qatar and Cyprus sign real estate deal

Yesterday, the Government of Cyprus and Qatar signed a number of agreements including a construction project opposite the Hilton Hotel in Nicosia that will include a five-star hotel, a shopping mall, offices and a residential complex.

Developers warn of layoffs

Around 600 staff from Cypriot development company Alpha Panareti held a protest outside the Paphos town hall over bureaucratic delays in government departments that could result in staff layoffs.

Storm clouds darkening over Cyprus

An economist report has highlighted a number of significant problems in the Cyprus property market and warns that prices have still to fall from their already depressed levels before they bottom out.

Portugal and Cyprus win as Brits return to market

Portugal, Turkey and Cyprus are among the main beneficiaries of the returning British interest in overseas property, according to the latest figures from portal Rightmove.

Experts air views on Cyprus property tax

In co-operation with RICS Cyprus, the Cyprus International Institute of Management (CIIM) held an event last Monday on the subject of property tax against a backdrop of the government’s decision to revise the property tax system in Cyprus.

Cyprus swimming pool laws cost thousands

The costs of owning a communal swimming pool in Cyprus are escalating as authorities tighten up the enforcement of regulations seemingly designed for hotels and tourist complexes.

Title Deed bills to Cyprus parliament today

The six bills concerning reforms to the legal framework governing building permits and the issue of Title Deeds will be submitted to Cyprus parliament today.

Sales up on last year but foreigners holding back

Property sales in March indicate that the Cyprus market may be on the road to recovery, but foreigners are still not buying in the key tourist areas.

Title Deed legislation in parliament by month end

The Cyprus Interior Minister, Neoclis Sylikiotis, expects the new legislation designed to clear the Title Deed backlog to be tabled before parliament later this month.

Revised property taxes and planning amnesty

The Cyprus government is banking on a second term in office to implement its revised property tax system which will be based on current property values rather than those of 1980.

Cyprus submits stability programme to EU

The Cyprus News Agency has reported that government has submitted its Stability Programme to the European Commission, which includes the basic targets to reduce the budget deficit to 6% in 2010 and below 3% by 2013.

Cypriot developer reveals new marketing strategy

Cypriot developer Aristo has begun a new marketing strategy separating its existing stock from its new luxury projects.

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.