Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: February, 2011

St George coastal works under scrutiny

The Green Party and Peyia councillor Linda Leblanc are concerned that the pristine St. George coast north of Paphos is being destroyed by development.

Larnaca marina development to start in January

The Larnaca port and marina development is anticipated to start in January 2012, which along with other improvements should improve the attractiveness of the town as a tourist destination.

Concrete workers set to strike on Monday

An indefinite strike by the Cyprus Ready Mixed Concrete Association is planned to start tomorrow following a decision taken at an extraordinary general meeting last Thursday.

Cyprus Title Deed law breakers face stiff penalties

The Cyprus government's revised Title Deed legislation provides for fines and the possible imprisonment of those found guilty of violating its provisions.

Moody’s downgrades Cyprus rating two notches

Yesterday Moody's Investors Service downgraded Cyprus government bond ratings by two notches to A2 from Aa3, reflecting its view of the country's weakening medium-term credit fundamentals.

Brit at centre of dispute arrested charged and freed

Conor O'Dwyer was detained as he tried to leave the Paralimni court last Friday and was later arrested, handcuffed and taken to the police station where he was charged with public insult and later released.

EU real estate agents free to operate in Cyprus

Estate agents from the EU are free to establish themselves and exercise their activities in Cyprus following actions taken by the European Commission.

Title Deed legislation will destroy property market

Rather than resolving the Cyprus Title Deeds-cum-fraud mess, the proposed legislation will destroy what vestiges of confidence remain in the Island's overseas property market and will possibly result in its collapse.

Building permits drop in December

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.

Revised Cyprus Title Deeds laws by May?

Amendments to various laws designed to resolve the Cyprus Title Deeds-cum-fraud mess could be complete and voted through before parliamentary elections in May.

State drops criminal case against Conor O’Dwyer

The Attorney General of Cyprus, Petros Clerides, has decided to stay criminal proceedings against Conor O'Dwyer for publishing details of his property dispute with developer Christoforos Karayiannas & Son Ltd on the Internet.

Minister and opposition in row over Title Deed bills

A row between the Cyprus Interior Minister Neoclis Sylikiotis and opposition party DISY has broken out over delays in the long-awaited Title Deed bill amendments.

Cyprus developer Alpha Panareti named in MEP question

Alpha Panareti, a Cyprus property development company, was named in a question raised in the European Parliament by Derek Roland Clark MEP for East Midlands region who is seeking advice for one of his constituents.

Double selling fraud: the O’Dwyer judgement

Cyprus cannot afford to delay any recovery of its property sector and the many scandals require urgent, radical treatment - not a sticking plaster, an aspirin and a hope that the patient will simply recover naturally.

Thousands of Title Deeds waiting to be transferred

Although the Cyprus Land Registry issued 15,000 Title Deeds between June 2009 and November 2010, only 4,200 have been transferred. What is causing this problem and what can be done to resolve it?

Time for a property commissioner

It is time for a property commissioner to be established in Cyprus with executive powers to push the relevant government departments to enact much-delayed property laws.

Property sales in Cyprus slump to a 2 year low

Property sales in January hit a year low heightening concerns that the real estate sector will continue to suffer problems in 2011.

Who is the real culprit?

In a letter to the Cyprus Mail on Sunday John Knowles, a resident of Peyeia, talks of the negligence of lawyers and their failure to represent foreigners buying property in a professional manner.

Couple assured of stay of execution

A couple who bought an apartment in Larnaca and faced eviction and repossession by the bank because its developer had defaulted on his mortgage repayments have been assured of a stay of execution.

Minister stresses need for Title Deed solution

Speaking recently in Paphos, Cyprus Interior Minister Neoclis Sylikiotis stressed the need to resolve the withheld Title Deed issue and restore the Islands' damaged reputation as a sound place for property investment.

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.