Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Monthly Archives: December, 2010

A new dawn for the Cyprus property market?

Next year could see the dawning of a new era in the Island’s property market following the introduction of the proposed changes to the property laws; Andreas D. Symeon explains.

Laws to iron out problems with Title Deeds

Parliament is currently in the process of preparing a law in cooperation with the government and banks that will put an end to the current Title Deeds system that has left hundreds of home buyers at the mercy of debt-riddled developers.

Government needs to take urgent action

The Cyprus government has been urged to take “decisive steps to eliminate delays related to the issuing of title deeds,” to focus hard on reviving the island’s overseas property sector, and to avoid increasing local property taxes.

Developers meet with Central Bank Governor

The Cyprus Land and Building Developers Association has met with the Central Bank to discuss financing problems and the Title Deed legislation currently before a Parliamentary Committee.

Building permit numbers improve in October

Figures released today by the Cyprus Statistical Service show that the number of building permits issued for the construction of residential properties rose in October compared to the same month last year.

Top 10 stories from Cyprus in 2010

The chart topper in the Cyprus Property News’ annual list of the Top 10 stories highlights the practices of the Island’s nefarious property developers in a spoof video featuring Adolf Hitler.

Call to reform the property tax system

George Strovolides, president of the Cyprus Property Owners' Association , urged the government to reform the property tax system tax during the association’s annual general meeting.

Will UK govt help Brits caught in Cyprus scams?

Will the UK government be prepared to step in and help Brits in Cyprus who have been caught in property scams by repeating the initiative it has shown in Spain by its intervention to help expats caught in the Spanish property scams?

Are we being deceived by EC reply to Cyprus question?

EC Vice-President Ms Viviane Reding has replied to Daniel Hannan’s question concerning developer mortgages in Cyprus. However, the answer she gives fails to answer the question asked and I wonder if someone is trying to deceive the European Commission?

Central Bank real estate price index

In its December Economic Bulletin, the Central Bank of Cyprus presented the results of the Real Estate Price Index it prepared in collaboration with domestic monetary and financial institutions.

Cyprus tax loses rose to 626 million Euros in 2009

A report by the Island's Auditor-general, Chrystalla Georghadji, show that Cyprus lost revenues amounting to 626 million Euros in 2009.

Furious Paralimni residents still await electric supply

Residents of a block of flats in Paralimni, a coastal town in the south east of Cyprus, who are without electricity are furious that their developer has built an illegal electricity substation in one of their garages to supply another building.

MEP Alyn Smith asks Cyprus president to help

In a letter to the President of Cyprus, Demetris Christofias, MEP for Scotland Alyn Smith asks if an impartial ombudsman or foreign investor advice service could be established to deal with the many property issues.

Overseas sales remain steady in November

The Cyprus overseas property market remained steady last month with sales during the first eleven months of this year maintaining their 8 percent increase on the numbers sold during the first eleven months of 2009.

Total sales continue to fall during November

The number of properties sold in Cyprus fell for the fifth consecutive month during November, sparking worries of the difficulties facing the market in 2011.

Plans for new shopping malls in Cyprus

Plans have been unveiled for the construction of two shopping malls in Cyprus; one in the area of Lakatamia-Anthoupolis in Nicosia, the second in Paphos.

Cyprus to host international real estate congress

FIABCI, the International Real Estate Federation, will hold its annual world congress in Cyprus during May 2011 at the Coral Beach Hotel and Resort in Paphos.

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.