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Archive for January, 2011

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.

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