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Archive for April, 2011

Disappointing drop in Cyprus real estate prices

The fifth issue of the RICS Cyprus Property Price Index show that real estate prices across the Island fell during the fourth quarter of 2010, with house and apartment prices falling by an average of 2.6% and 2.4% respectively.

Remaining planning amnesty bills passed

Yesterday Parliament passed the remaining two ‘town planning amnesty’ bills aimed at tackling the estimated 130,000 properties in Cyprus without Title Deeds.

Is this the worst overseas property market in Europe?

If there was a prize for the worst overseas property market in Europe, Cyprus would be the hands down winner according to Global Edge.

Limassol marina workers start industrial action

Construction workers at the Limassol marina started industrial action today in a row over the use of cheap foreign contract labour, which they claim breaches a contract with their employers.

Is it unreasonable to reject properties without deeds?

Considering the problems experienced by many who have bought a property in Cyprus that has yet to be issued with a Title Deed, is it unreasonable for potential buyers to refuse to buy a property without a Title Deed?

Summary of Cyprus planning amnesty laws revealed

The draughtsman of the original amendments to the Cyprus Immovable Property (Tenure, Registration and Valuation) Law provides a summary of the new laws that were approved by parliament last month.

SNK Venus & SNK Exclusive liquidation proceedings

Buyers of property in Cyprus from SNK Venus Home Developers Ltd and SNK Exclusive Properties Ltd are advised that liquidation proceedings against the companies will be heard in May and June at the Larnaca District Court.

Commission tells Cyprus to lift property restrictions

The European Commission has acted to ensure that EU nationals have unrestricted access to buy a second home in Cyprus.

Alpha Panareti named in MEP question

Alpha Panareti, a Cyprus property developer based in Paphos, has been named in a question raised in the European Parliament by MEP for Scotland George Lyon in connection with EU citizens who have been defrauded by property investment schemes.

Property sales fall for ninth consecutive month

Property sales in Cyprus fell for the ninth consecutive month during March and recorded the largest fall over the past 15 months, heightening fears that the crisis in the real estate sector may be worsening.

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