Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 6th August 2020

Monthly Archives: May, 2011

Fitch cuts Cyprus rating on exposure to Greek debt

Fitch ratings agency has cut Cyprus' sovereign credit rating from AA- to A- and is warning of another possible downgrade because of its banking sector’s large exposure to debt-laden Greece.

Slowdown in construction sector continues

Latest figures from the Statistical Service confirm that the slowdown in the Island's construction sector continues with the number of building permits issued in March falling by 23.4 percent compared with March last year.

Working together to end title deed scam

Britain's 72 MEPs have been asked to put aside their political allegiances and work together on behalf of British property buyers in Cyprus who have been left without title deeds to their homes.

MEP supports those affected by the property scandals

This week, Sajjad Karim MEP gave his support to those UK citizens who have bought property in the Republic of Cyprus and have been affected by the on-going issues regarding the ownership of their homes.

Police in move to get touts out of Paphos

In an attempt to clear Paphos of timeshare touts and others who accost and worry tourists, the police have set up telephone hotlines where the public can report nuisances anonymously.

Cyprus: a concrete jungle

Cyprus is rapidly losing soil through urban sprawl and dominating touristic infrastructure intensity and is under enormous land use pressure according to a recently published EU soil quality report.

Britain to review Cyprus military bases

Britain will review its military bases in Cyprus as it seeks to extract maximum value from a shrinking defence budget, Defence Secretary Liam Fox said in a statement to the UK parliament on Tuesday.

Claim back Cypriot VAT on property purchase

Under the Special Grant for Purchasing or Building a Residence, Law N.91(I)/2006 a special grant is available to qualifying individuals for a VAT grant from the government.

Cabinet approves Qatar real estate deal

Cabinet has approved the multimillion Euro deal with Qatar to develop prime real estate in the capital, opening the way for the joint venture to be realised.

Paschalides ready to sign Ayia Napa marina deal

Earlier today, Antonis Paschalides spoke about a deal for the construction of a marina at Ayia Napa and also urged Paphos businessmen to resolve their differences that are delaying the Paphos marina project.

FIABCI world congress gets underway in Paphos

Cyprus is hosting the 62nd world congress of the International Real Estate Federation (FIABCI) which is being held at the Coral Beach Hotel and Resort in Paphos.

Ambitious plans to change the face of Larnaca

The Larnaca town tourism board has announced plans to attract more visitors through a number of significant development projects over the next five years.

State-sponsored fleecing is island-wide

Abuse by the Land Registry Offices brings the whole system into disrepute and fosters cynicism and distrust of the Cyprus government's regulations and practices.

Moody’s reviews Cyprus banks for possible downgrade

Moody's Investors Service placed three Cypriot banks on review for a possible downgrade on Friday, citing heightened risks to the banks from their exposure to Greek debt.

CPAG’s Denis O’Hare interview with Rosie Charalambous

Cyprus property action group spokesman Denis O'Hare was interviewed on Cyprus radio channel CyBC 2 by Rosie Charalambous about the Island's unfair commercial practices law.

Property buyers plan flood of complaints

Thousands of disgruntled property buyers without title deeds plan to flood the Commerce Ministry's Consumer Protection Service (CPS) with complaints under the Unfair Commercial Practices law.

Ongoing contempt for property purchasers

In a letter to the Sunday Mail a regular commenter wonders what it will take for the Island to clean up its act regarding property purchasers being duped by the nefarious practices of developers, lawyers and banks.

Ball starts rolling on Title Deeds

Following the recently announced passage through parliament of the 'town planning amnesty bills', the Cypriot authorities expect to complete an evaluation of properties affected by the end of this month.

‘The end is nigh’ property firm spreads bank fears

Like thousands of others, I received an email from BuySell's sales director advising me that that keeping cash in the bank is too risky and offering to find me a property bargain.

Residential property construction continues to slow

Following last month's disappointing sales figures published on Tuesday, the latest figures from the Statistical Service released earlier today offer no encouraging signs of an upturn in the Island's property and construction sectors.

Most Read

Property sales in Cyprus improving

The number of property sales in Cyprus is improving following the government's decision to introduce an interest rate subsidy for new housing loans granted from 1st March 2020 until 31st December 2020.

Tender awarded for Larnaca port and marina

The tender to develop the Larnaca port and marina has been awarded to Eldeman Holding BV and Alexandrou Corporate Services, comprised of Israeli and Cypriot interests.

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