Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Yearly Archives: 2010

Cyprus town of Limassol to get seafront upgrade

Work to revitalise the seafront at the Cyprus town of Limassol is expected to start in the New Year following the signing of contracts last week by the Mayor, Andreas Christou, and Georgios Anastasi, MD of the company running the project.

Brit plans to sue Turkish Cypriot properties Guardian

Parts of a 300 donum plot of land at Nisou owned by a British woman have allegedly been given to property developers to build luxury homes, while other parts have been used for warehouses, a garden centre and other business.

Building permits continue fall in August

Figures released in the week by the Statistical Service show that the number of building permits issued for the construction of residential properties in Cyprus continued to fall in August.

Cyprus rating cut on banks’ Greece exposure

Rating agency Standard and Poor's downgraded Cyprus' sovereign credit rating by one notch and set the outlook as 'negative' as a result of increasing vulnerabilities in the Island’s banking system.

British developer shatters Cyprus retirement dreams

A British developer has left nothing but shattered dreams for people planning to retire in Cyprus. Adrian Mills promised luxurious homes in the sunshine but left his clients hundreds of thousands of pounds out of pocket.

The EU and the Cyprus property scandals

The Cyprus Property Action Group considers the implications of the EU Unfair Commercial Practices Directive on the property scandals taking place in Cyprus which, it believes, could have monumental implications.

ITV documents O’Dwyer case

An ITV crew was in Cyprus this week to record a segment for prime-time television show 'Homes From Hell' which investigates claims of "foreign retreats which started off as dreams and turned into nightmares".

Shots fired at British TV crew

Reports of shots being fired at a British TV crew in Cyprus, who have been on the Island investigating and filming a number of property scams, have appeared in the Greek language media.

Long queues at Paphos land registry

Despite the Cyprus Interior Minister Neoclis Sylikiotis promising additional resources to help clear the backlog of Title Deeds waiting to be issued, there are still long queues outside the Land Registry and other government offices in Paphos.

Bombers target Cyprus developer

A home-made bomb was detonated outside the offices of a property developer in the Kapparis area of Paralimni on Monday evening.

Are we about to see justice for all?

An article in today’s Sunday Mail Opinion column questions whether the Cypriot authorities have left it too late to repair the damage that has been done to the Island's image abroad.

Cyprus public debt reaches 105 percent of GDP

The level of Cyprus public debt reached €17.8 billion, corresponding to 105% of GDP, in the third quarter of 2010 according to a recent article in StockWatch.

Banks face more serious risks says CPAG

According to CPAG the banks in Cyprus are facing more serious risks than those reported last week by the rating agency Moody’s.

British Army serviceman may be left out in the cold

A former British Army serviceman who once served in Cyprus may be left out in the cold if other residents living on the Paradise Hills estate get a mains electricity supply.

Overseas sales maintain slow recovery

The slow recovery of Cyprus’ overseas property market continued last month with sales during the first ten months of the year up by 8 percent on the numbers sold during the first ten months of 2009.

State to appeal O’Dwyer decision and sentence

The Attorney General of Cyprus has authorised state prosecutor Thanasis Papanicolaou to appeal the Court’s decision and sentence in the Conor O’Dwyer assault case.

Fears for property crisis heighten

Exceptionally low numbers of properties are being sold in Cyprus compared to previous years heightening fears of a much longer crisis in the Island’s property industry than earlier anticipated.

Developers escape jail sentence in assault case

Cyprus property developers Christoforos Karayiannas, Marios Karayiannas and their associate Charalambous Ttigis have escaped a jail sentence for their brutal attack on British home buyer Conor O’Dwyer in January 2008.

Massive implications for property sector & economy

Yesterday’s revelation about the illegal activities could have massive implications for Cyprus’ property sector and the Island’s economy. The Cyprus government may have no option other than to take effective action immediately.

Legal lifeline for Cyprus property buyers

Buyers can challenge purchases affected by developers' mortgages. Once a complaint has been lodged, the Competition & Consumer Protection Service of the Cyprus Commerce Ministry is obliged to investigate.

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.