Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: June, 2011

EU funded scheme to make property purchasing safer

A pilot scheme that promises to end the problems experienced by expatriates when buying property in other European Union countries has been highly praised by EU parliament vice president Diana Wallace MEP.

Comments on property issues provoke sharp reaction

Observations made UK Minster for Europe David Lidington about the Title Deed 'problems' in the north and south of the Island provoked a sharp reaction from the Cyprus government.

Former Teesside rave club owner to face the music

Gary Robb, convicted drug dealer and former Teesside rave club owner, will soon be facing the music in Cyprus in connection with alleged dealings in usurped Greek Cypriot owned property in the Island's occupied areas.

Guilty of tax evasion unless you prove otherwise

The Land Registry is effectively finding you guilty of tax evasion and defrauding the state of much-needed tax revenues if it inflates the amount you have paid for your property when calculating your property transfer fees.

Is help at hand with Title Deeds?

Property firms offer their services to obtain the all-important Title Deed to properties that buyers have purchased; developers and other advise caution, while some criticize them as "preposterous" or "scams".

Use an independent lawyer not an ambulance chaser

If you have concerns about your property purchase, engage the services of an independent fully qualified and registered lawyer; do not use an ambulance chaser.

No decision on proposals to hike property tax

Although President Christofias has won support to impose a tax of €1,000 a year on profitable companies, no decision has been reached on plans to increase the tax on property.

Cyprus construction industry shows no sign of recovery

The Island's construction industry is still struggling through recession according to the Federation of Building Contractors Associations of Cyprus (OSEOK) with a third of its workers unemployed.

House prices drop, bad loans rise

In April we reported that the price of property in Cyprus had fallen by more that nine percent during 2010; our figures were based on the RICS (Cyprus) Property Price Index. In its latest Economic Bulletin, the Central Bank paints a somewhat rosier picture.

Club hits back at world’s tallest statue project critics

Plans to build the world's tallest statue at Pentakomo/Monagrouli on Cyprus' southern coast have come in for so much criticism in the local media that the local representative of the Russian Institute has hit back at its critics.

We will get your Title Deeds for a price

A number of organisations have contacted buyers who have yet to receive Title Deeds for their property offering to apply for their issuance under the recently passed 'Town Planning Amnesty' laws.

Government planning amnesty bulletin: part 4

We look at the Immovable Property (Tenure, Registration and Valuation) law in our fourth and final article on the Interior Ministry’s bulletin about the recently approved bills designed to alleviate problems in issuing Title Deeds as a result of planning infringements.

Government planning amnesty bulletin: part 3

We look at the streets and buildings regulation law in our third article in a series of four on the Interior Ministry’s bulletin about the recently approved bills designed to alleviate problems in issuing Title Deeds resulting from planning infringements.

Government planning amnesty bulletin: part 2

We look at the town and country planning law in the second article in a series of four on the Interior Ministry's bulletin about the recently approved bills designed to alleviate problems in issuing Title Deeds resulting from planning infringements.

Government planning amnesty bulletin: part 1

The Interior Ministry has published a bulletin explaining the provisions of the recently approved bills designed to alleviate problems in issuing Title Deeds resulting from planning infringements.

SNK Venus & SNK Exclusive meeting of creditors

Buyers of property in Cyprus from SNK Venus Home Developers Ltd and SNK Exclusive Properties Ltd are advised that a combined meeting of creditors will be held on June 24 in at the offices of Corporate Recovery & Insolvency Group (CRI) in Nicosia.

Market stagnant despite price cuts

The global recession, the Title Deed fiasco, greed, stricter bank lending criteria and high interest rates blamed for stagnant property market as plummeting house prices fail to ignite sales.

Holiday homes bosses accused of huge swindle

The founder and top executives behind former holiday home giant MRI face legal action in Spain after hundreds of Britons allegedly lost money estimated to amount to £13 million.

Plans to build world’s tallest statue at Monagroulli

A Russian philanthropic group has plans to build a conference centre at Monagroulli that will incorporate a record-breaking 135 metre high statue of an angel.

Title deed transfers on steroids

There has been a noticeable increase in the number of Title Deed transfers carried out by Land Registry Offices throughout Cyprus since the start of the year.

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.