Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Yearly Archives: 2010

Price cuts fail to attract foreigners to Cyprus

Price cuts of up to 30 percent being offered by some developers are failing to attract foreign property buyers to Cyprus following negative publicity and government inaction.

Cyprus property market shows weak signs of growth

The Cyprus property market is depressed and shows weak signs of growth according to the latest RICS (Royal Institution of Chartered Surveyors) European Housing Review.

Cyprus changes estate agents law following EU inquiry

Following a European Union inquiry into the Cyprus laws governing estate agents, the Interior Ministry has submitted a new draft law to Parliament to bring it into line with the Acquis Communautaire.

Latest property sale figures for Cyprus

The beleaguered Cyprus property market has received some encouraging news from the Government’s Lands and Surveys Department with the publication of its property sale figures for February 2010.

Cyprus government extends water saving subsidies

The Cyprus government's Water Development Department (WDD) has announced the continuation of various subsidy schemes in its drive to promote water saving which have now been extended until 6th December 2010.

Low-end portal users return

The lower end of the British buyer market may be returning to overseas property, according to portal Primelocation.com with searches for property in Cyprus up by 55%.

Cyprus refugees to get Title Deeds

The government is trying to secure Title Deeds for all refugees living in government-built estates, including those on Turkish Cypriot land, a top official said on Thursday.

Slowdown in Cyprus construction activity continues

Latest figures from the Cyprus Statistical Service show that building permits for the construction of 1,624 residential properties were authorised in December 2009.

Bad omens for Cyprus economy

Revenues flowing into the Cyprus government’s coffers dropped in January 2010 sounding alarm bells in the Finance Ministry for the economy and what the fiscal deficit might reach in the coming year.

MRI clients in Cyprus – no furniture, no refund

MRI clients, who bought apartments in Cyprus, say that furniture “packs” costing an average of €15,000 per apartment had still not been delivered months, in some cases years, after they were due.

Orams decision could open Pandora’s Box

The Court of Appeal decision requiring the Orams to demolish their house in occupied northern Cyprus could open Pandora's Box enabling Turkish Cypriots to demand compensation for the loss of use of their properties and restitution.

Cypriot economy still in recession

Although the Cyprus economy is still in recession it may have started to climb out in the fourth quarter of 2009 according to the latest flash estimates from the Cyprus Statistical Service (CYSTAT).

Construction & Housing Statistics (2008)

In a press release issued this morning, the Cyprus Statistical Service announced that it has published its annual Construction and Housing Statistics report for the year 2008.

Property prices in Cyprus ‘distorted by local factors’

The high prices of property in Cyprus - especially houses compared to apartments - are caused by a range of distortions in the local market, according to views canvassed by the Cyprus Mail.

Resolving Cyprus property disputes

Finally, you are on your way to having your dream home in Cyprus, you’ve signed a contract, made your payments and it seems nothing can go wrong... think again!

Insurance of Cyprus apartments & building complexes

In a follow up article to 'Managing Cyprus Apartments and Building Complexes' Miltiades Miltiadou, the General Manager of Chartis Cyprus, writes about the insurance of jointly-owned buildings.

Foreigners show little interest in property market

Foreign interest in the Cyprus property market is showing no sign of a recovery at the start of the year with sales in January down by more than 28 percent on last year.

More delays in O’Dwyer case

It has now more than a year since Court proceedings got underway into the alleged assault of Conor O'Dwyer by a property developer, his son and another man.

Corruption in Cyprus is a national problem says EU report

"In Greece, Bulgaria and Cyprus there is almost universal agreement that corruption is a national problem" says damning EU Commission report.

Property sales improved in January 2010

According to figures published by the Cyprus Department of Lands and Surveys, property sales improved last month compared to the number sold in January 2009.

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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.