Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: June, 2010

Massive development planned for Cyprus

Plans for the largest development ever to be undertaken in Cyprus have come to light. We understand that the massive construction project, which will create 6,000 new jobs and attract more than half a million tourists each year, will get under way shortly.

Holiday home swimming pool safety

The safety of swimming pools, particularly in buy-to-let holiday homes, in Cyprus is a concern for both the owners of the holiday homes and those who rent them. The European Child Safety Alliance EuroSafe has published a document containing advice on how to protect youngsters in pools.

Yet another Immovable Property Tax scam

Just when we thought we had reported all of the Cyprus Immovable Property Tax scams, yet another one rears its ugly head; this time by a well-known Paphos-based developer.

Cyprus joins EU excessive deficit watchlist

The EU is proposing that the public finances of Cyprus, along with those of Denmark and Finland, requires further scrutiny as it poses a threat to the wider European economy.

ETEK calls for demolition of illegal buildings

The Cyprus Scientific and Technical Chamber (ETEK) has called on the government to demolish illegally constructed buildings, according to a recent report in the Greek language newspaper Politis.

Castles Built on Sand

Dr Alan Waring considers the growing problems with the Cyprus property market and wonders where it is heading and if there are ways to prevent the industry from destroying itself.

Aristo Developers subject of MEP question

Aristo Developers, a Cyprus property development company, was the subject of a question raised in the European Parliament by Syed Kamall MEP for London who is seeking advice for one of his constituents.

Further decline in property prices

The Central Bank of Cyprus anticipates that property prices will continue to fall in 2010 according its June economic bulletin and warns that the risks to the banks will be greater if the slump in property prices is higher than expected.

Dream holiday home nightmare for British couple

It is not only property buyers in the free areas Republic of Cyprus who are at risk of losing their homes if developers fail to service their mortgage debts. Buyers in the Turkish occupied areas of the island have already started to lose their homes as a result of unpaid loans. An omen of things to come in the South?

MEP calls for Cyprus fact-finding mission

MEP Daniel Hannan has called on the EC to send a fact-finding mission to Cyprus to investigate the Title Deed problems in a further written question to the European Commission.

Leptos Estates backs down in libel action

Leptos Estates, the Cyprus property development company, has backed down and withdrawn its libel action against property rights campaigner Denis O’Hare of the Cyprus Property Action Group.

EU questions Cyprus on developer mortgages

Daniel Hannan, MEP for South East England, has raised a question in the European Union Parliament to uncover the facts behind the Cyprus developers mortgages scandal, the number of properties involved and the total mortgage debt of the developers.

British couple plan to sue property developer

British couple Janet and Keith Smith are planning to sue their property developer after falling victim to a campaign of harassment that caused untold misery, health problems and further costs which have destroyed their lives.

Cyprus deal targets Scandinavian buyers

A Cypriot developer has signed an exclusive deal with one of Norway’s largest agents in hope of cashing in on growing demand from Scandinavian buyers.

Property market showing signs of recovery

There are signs that the Cyprus property market may be on the road to recovery boosting hopes that an end to the crisis in the sector is approaching.

Well meaning or crooked lawyers?

Reports of "crooked" lawyers in Cyprus are legion. Paphos (or Pafos) appears to have an unusually high percentage of wrong doings by lawyers in comparison with other Cyprus towns and cities according to Antonis Loizou.

Legal system and property rights under EU scrutiny

Once again, the Cyprus legal system and consumers' property rights are about to come under the scrutiny of the European Union following a written question to the European Parliament raised by Scottish MEP Alyn Smith.

Cyprus building permit numbers up in March

Latest figures from the Cyprus Statistical Service show that building permits for the construction of 1,758 residential properties were authorised in March 2010, an increase of more than 27 percent over the same period last year.

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.