Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: August, 2011

VAT and other tax reductions on the table

VAT reductions for first-time home buyers and a suspension of transfer fees are being discussed as part of the Cyprus government's austerity measures to bolster the Island's failing economy.

Paphos development plans received with scepticism

Perhaps not surprisingly, the grandiose plans for the development of the western coast of Paphos have been received with some scepticism by the local media.

Will Cyprus follow Spain’s example

Will Cyprus follow the example of Spain where the government plans to halve the VAT payable on the sale of newly built housing until the end of the year in an effort to boost its property market?

Russians interested in Paphos tourist investment

Almost a month ago a Russian investment group approached the Mayor of Paphos, Savvas Vergas, to present a plan for a number of tourist developments of the town.

Cyprus at number nine in Top of the Props

In the August survey published by the overseas search portal, Cyprus is the ninth most popular destination for British overseas property investors.

Town planning amnesty presentation at Paphos UKCA

The Scientific and Technical Chamber of Cyprus (ETEK) will be giving a presentation on the provisions of the Town Planning Amnesty laws at the Paphos UKCA on Saturday, 27th of August starting at 10:00 am. All are welcome to attend.

Austerity measures will add to property industry woes

The austerity package aimed at bolstering the failing economy unveiled by the government last Wednesday will only add to the chronic problems facing the Island's property industry.

Fitch downgrades Cyprus two notches closer to junk

Fitch Ratings agency has cut Cyprus' long-term local and foreign currency ratings by two notches to within two steps of junk territory, referring to the Island's increasing budget and debt pressures.

Complimentary tickets to A Place in the Sun exhibition

Complimentary tickets are available to the overseas property exhibition 'A Place in the Sun Live' being held at the NEC in Birmingham between 30th September and 2nd October 2011.

Banks could face 1 billion Euro hit

Cypriot banks could take a hit of more than 1 billion Euros to shoulder their Greek bailout obligations, forcing them to raise capital and potentially deepening concerns over the Island's own sovereign debt.

Construction activity showing no signs of recovery

The latest figures from the Cyprus Statistical Service offer no encouraging signs of an upturn in the Island's property and construction sectors as the number of building permits issued continues to fall.

Brit Gary Robb remanded over property scam in north

Convicted drug dealer Gary Robb was remanded for eight days yesterday by Nicosia District Court in connection with unlawfully developing and trading in Greek Cypriot properties in occupied Kyrenia.

Property title deed transfers fell in July

The number of properties in Cyprus transferred to their new owners fell during July, possibly as a result of the crippling power cuts that we all have to endure and the lack of office air-conditioning in the blistering summer heat.

Disastrous decline in real estate market continues

The continuing crisis in the Cyprus real estate industry can only be described as disastrous as the latest figures released by the Land Registry reveal that property sales fell for the thirteenth consecutive month in July.

Town Planning Amnesty statement of intent DIY guide

People who have bought property in Cyprus and have yet to receive their Title Deeds can file a Statement of Intent to apply for their Title Deeds under the provisions of the Island's Town Planning Amnesty laws.

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.