Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Monthly Archives: March, 2011

Cyprus economy downgraded again

Standard and Poor's has downgraded Cyprus' sovereign credit rating by one notch and set the outlook as ‘negative’ as a result of the Island’s significant exposure to Greece.

Larnaca golf property action group announcement

The Larnaca golf property action group is putting a group together to work with a specialist legal team to seek compensation from the Tersefanou developers.

Power of Attorney documents – certification & validity

If a Power of Attorney document has not been legally certified in accordance with the laws of Cyprus, it may result in the mortgage of the property being declared null and void according to one of the Island's leading law firms.

Building permits up but residential construction slows

Although the number of building permits issued in Cyprus in January 2011 increased over the previous year, the number of permits issued for the construction of residential properties continues to fall.

Cyprus’ most expensive residence is up for sale

Due to be completed later this year the Santa Barbara Residence, a unique seven bedroom beach front residence in the Amathus area of Limassol, is up for sale.

EC replies to legal rulings on Cyprus swimming pools

Antonio Tajani, the European Commissioner for Enterprise & Industry, has replied to a question raised by Arlene McCarthy MEP concerning the licensing of swimming pools in Cyprus and legal proceedings taken by the authorities against some owners.

Majority of Cypriot planning amnesty laws passed

Yesterday the Cypriot Parliament passed the most of the 'town planning amnesty' legislation aimed at tackling the morass of properties without Title Deeds in Cyprus.

ROPUK sells to Millbak Wealth after tough times

ROPUK, who have been active in several Cyprus towns and villages including Larnaca, Paphos, Limassol, Protaras and Paralimni has been sold to Millbak Wealth.

Property management company ceases trading

A Spanish-based property management company with offices in Cyprus has announced that it has ceased trading due to attacks on its business.

Focus of the Cyprus town planning bills was wrong

The main focus of Cyprus government’s town planning bills was to raise revenues for the state rather than providing a sound legal framework to ensure the immediate issue of Title Deeds.

Parliament blamed for Title Deed bills hold up

Neoclis Sylikiotis, the Cyprus Interior Minister, claims that a group of MPs are systematically trying to delay the progress of the Title Deed bills through parliament.

Prices & valuations what is your house worth?

Why is my neighbour's house better than mine, but my house is more expensive than his? This article examines the concepts and differences between the price of a house, its value and its worth.

Buying property in Cyprus – book review

For anyone wishing to avoid unnecessary heartache and financial loss when buying property in Cyprus, this book is an essential reference - Dr Alan Waring.

Cyprus protesters at overseas property exhibition

British home buyer Conor O’Dwyer supported by members of the Alpha Panareti Owners Group staged a protest outside ‘A Place in the Sun Live’ overseas property exhibition at Earls Court in London.

Please tell me why Mr President

In a letter to the President of Cyprus, Demetris Chrisofias, a reader who wishes to remain anonymous asks the simple question why.

Golf courses in Cyprus at Fasouri and Limni

Interior Minister Neoclis Sylikiotis expects that licences for the golf courses at Fasouri and Limni will soon be authorised by the Town Planning Department.

Cyprus planning amnesty bills delayed

Voting by Cyprus MPs on three planning amnesty bills has been postponed for two weeks at the request of Democratic Party member Andreas Angelides.

Banks say town planning bills unconstitutional

The Association of Cyprus Banks believes that some provisions in the three town planning bills currently awaiting parliamentary approval are unconstitutional and has called on the government to think again.

MEP questions Cyprus swimming pool legal rulings

MEP Arlene McCarthy has called on the EC to ensure unfair legal proceedings against Cyprus swimming pool owners are halted and that the correct European standards are enforced.

Property sales continue fall in February

February 2011 saw a further drop in property sales in Cyprus compared with the same period last year, with the number of properties sold down by 14 percent.

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.