Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: January, 2011

O’Dwyer decision another nail in the coffin

It appears that buyers rights to property in Cyprus are not protected by the law even though they may have deposited their contract of sale at the Land Registry for 'Specific Performance'.

City law firm to protect Cyprus buyers rights

London law firm Healys LLP has announced it will be working with a leading law firm in Cyprus to advise on claims of mis-selling in the Cyprus property market.

Building permit numbers fell in November

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

Cyprus property news welcomes one million visitors

Currently ranked number one by Internet search engines Google, Yahoo and Bing, the Cyprus Property News magazine recently welcomed its one millionth visitor.

2011 property market predictions

What does the coming year hold in store for the Cyprus property market? Pundits predict that things will be much the same as last year, but 2011 has not got off to an auspicious start.

Good news at last for Conor O’Dwyer

Earlier today Cyprus District Court Judge G. Philippou found property developers Christoforos and Marios Karayiannas guilty of an assault against Conor in 2006 and ordered them to pay damages plus interest and legal fees.

More than ninety percent say no

Would you buy a property in Cyprus without a Title Deed? More than ninety percent of our readers answered no.

Conor O’Dwyer’s lawyer speaks out

Conor O'Dwyer's lawyer was interviewed on Cyprus radio channel CyBC 2 by Rosie Charalambous about the criminal case against property developer Karayiannas and Michelle McDonald, the woman now living in Conor's home.

Cyprus warned of Fitch downgrade

On Monday, Fitch Ratings put Cyprus on ratings watch negative when the agency said it could lose its AA minus rating. Fitch is looking at the Island's state pensions as well as its close relationship with Greece.

British home buyer loses case in court ruling

A judge has ruled that British home buyer Conor O'Dwyer's private criminal prosecution against Karayiannas and Michelle McDonald has not been proven and has ordered Mr O'Dwyer to pay their costs.

Our View: Title Deed bill is sheer lunacy

The legal changes proposed to protect property buyers from the abusive practices of developers are sheer lunacy and will do nothing to restore overseas investor confidence in the Cyprus property market.

Title Deed bill agreed by deputies

Details of one of the bills designed to resolve the Island’s Title Deed fiasco have been agreed by deputies. This will now be passed to the House of Representatives' plenum for approval.

Residential property prices continue to fall

During the third quarter of 2010, the capital values of residential houses and apartments fell by 0.9 percent and 2.1 percent respectively according to the fourth issue of the RICS Cyprus Property Price Index.

Moody’s to review Cyprus rating for possible downgrade

Moody's said the rating could be adjusted downwards prompted by a deterioration in fiscal metrics, competitiveness issues, and the banking sector's exposure to macroeconomic stress in Greece.

Title Deed bills run into problems

The passage of two of the five bills designed to resolve the Title Deed nightmare have been delayed by a number of questions raised during recent discussions.

Britons face big losses as prices tumble

British overseas home owners are facing disastrous financial losses as tumbling prices in overseas real estate markets have wiped an estimated £24 billion off their investments, according to new research.

Sales up in 2010 but outlook bleak

Despite the continued fall in sales over the last six months of 2010, the number of properties sold in Cyprus increased by five percent over the year compared with 2009.

Overseas property market recovering despite problems

The Cyprus overseas property market is showing signs of recovery in spite of its problems, with sales to non-Cypriot buyers up fifteen percent in 2010 compared with 2009.

Property prices may stabilise in 2011

The vice president of the Cyprus Association of Valuers and Property Consultants believes that property prices may stabilise in 2011 following falls over the past two years.

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.