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Archive for September, 2010

Briton in property dispute takes protest to Palace

Conor O’Dwyer, whose court cases in Cyprus have been dragging on for four years, is staging a four day protest outside the Presidential Palace in Nicosia.

Limassol marina on course for completion in 2012

The construction of Cyprus’ new marina at Limassol is progressing well and on course to be completed by the end of 2012.

Cyprus companies linked to Greek property scam

Authorities in Greece and Cyrus are investigating a massive property scam ring that has been operating undetected for the past five years.

Are property developers breaking EU law?

In her reply to a request to send a fact-finding mission to Cyprus to investigate the Title Deed problems, European Commission Vice-President Viviane Reding said that “the Commission can only intervene if an issue of European Union law is involved.”

Can the Cyprus banks pursue me in the UK?

I have been contacted by many British buyers who have received warning letters at their UK addresses from developers and banks in Cyprus concerning delayed mortgage repayments.

Cyprus court awards couple €100,000 in property case

The court in Cyprus has awarded damages of €100,000 to property buyers Simon and Jennifer Penney in their case against FK & S (Varoshia) Properties Ltd.

Cyprus overseas property market review

It is hard to believe that the Cyprus overseas property market has collapsed so suddenly and so dramatically. In a few short years, sales of property to overseas investors have plummeted significantly compared to the numbers formerly sold.

Why Title Deed legislation cannot work

The Title Deed legislation under discussion by the Cyprus government cannot work because it fails to address several critical factors; it is nothing more than a planning amnesty designed to protect property developers who have broken the law.

Tax hikes to cut budget deficit

The Cyprus Finance Ministry has proposed taxes on banks, companies, properties and basic consumer goods to plug a €150 million hole and keep the budget deficit for 2011 within the limits set by the European Union.

Residential building permits fall in June

The recession in the Cyprus construction continues to bite with the number of building permits issued for the construction of residential properties in June 2010 down almost 44 percent on the number issued during the corresponding period last year.

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