Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday 11th August 2020

Monthly Archives: September, 2011

Real estate revenue down 70 percent in last five years

The vice-president of the Cyprus Land and Building Developers Association has warned that the sector's future depends on its ability to address the various challenges it faces and on the global economic rate of recovery.

Minister gives Oroklini theme park the green light

At last Monday's meeting, Interior Minister Neoclis Sylikiotis give the green light to the proposed theme park in the Oroklini area, according to reports in the local media.

Know Before You Go Campaign at A Place in the Sun

Representatives from the British Consulates in Cyprus and Spain will be taking part in panel discussions at the forthcoming 'A Place in The Sun Live' at the NEC in Birmingham and will also be available at the Know Before You Go stand (stand number B13).

Drug dealing Briton jailed over property fraud

A Cypriot court has sentenced convicted drug dealer and former Teesside rave club owner Gary Robb to ten-months in jail in connection with a case involving the appropriation of Greek Cypriot property, in the northern Turkish occupied areas.

Town Planning Amnesty deadline approaching

October 7th is last date on which 'Statements of Intent' may be submitted under the provisions of the Town Planning Amnesty. After this date, applicants have three years to apply to the relevant Town Planning or Building Authority for a Certificate of Final Approval.

Construction investments continue downward trend

More bad news from the Cyprus Statistical Service emerged today as the number of building permits approved sank further in July as investments in the Island's real estate continued their downward trend.

Cyprus falls to twelfth spot in Top of the Props

The interest being show in Cyprus as a destination for overseas property investors has fallen over the last month according to the latest 'Top of the Props' chart published by

VAT reduction for first-time home buyers agreed

A compromise deal has been reached on a reduction in the VAT payable on new homes by first-time buyers. The law will come into effect on 1st October.

Cyprus property buyers – now is the time to act!

The Sale of Immovable Property (Specific Performance) Law, N81(I)/2011 ensures that when a buyer's Contract of Sale is deposited at a Land Registry office in Cyprus they are provided with a degree of legal protection.

Reduced VAT for first-time home buyers

Discussions on reducing the VAT paid by first-time home buyers are continuing and they may form part of the Cyprus government's second package of austerity measures designed to shore up the Island's economy.

Property revaluations to start in 2012

In Cyprus, an individual's Immovable Property Tax liability is based on the Land Registry's assessment of the market value of a property at 1st January 1980; this is set to change as a reassessment of property values will start next year.

Around 28,000 Title Deeds issued since 2009

Interior Minister Neoclis Sylikiotis has said that around 28,000 Title Deeds have been issued since 2009 following the introduction of new mechanisms and greater coordination between the relevant services.

Town Planning Amnesty architects and engineers

The Cyprus Scientific and Technical Chamber (ETEK) has published a list of architects and civil engineers who can assist in the submission of Statements of Intent and Applications under the provisions of the Town Planning Amnesty laws.

Meeting to discuss Oroklini theme park scheduled

A critical meeting is scheduled for Monday 26th September to discuss plans to build a theme park close to the Larnaca village of Oroklini on the south eastern coast of Cyprus.

Cyprus Town Planning Amnesty penalties announced

The Ministry of Interior has published the penalty charges to be levied under the temporary provisions of the Cyprus Town Planning Amnesty for planning irregularities resulting from overbuilding.

Owners kept in the dark over the future of their homes

Ongoing problems with their Cyprus homes have resulted in one buyer receiving medical treatment for depression and stress and there are fears that a number of homes may be demolished.

Conveyancing property in Cyprus and due diligence

One of the issues that people face when buying real estate in Cyprus is that there appears to be no defined tasks that a lawyer is required to undertake when conveyancing property, which may lead to severe complications for the buyer at a later date.

Cyprus property sales slump slows

Although figures from the Land Registries across Cyprus reveal that the number of properties sold fell for the fourteenth consecutive month during August, the rate of the fall appears to be slowing.

Ceiling set on value of Swiss Franc

The Swiss National Bank has set a minimum exchange rate of CHF 1.20 to the Euro and said that it will enforce this minimum rate with the utmost determination.

Investments in construction at lowest level in years

Investments in the Cyprus construction sector remain at their lowest level in years, with no signs of a recovery on the horizon according to the latest figures from the Island's statistical service.

Most Read

Small rise in construction of new homes

The Cyprus construction sector staged a slight recovery May falling by just 0.1% compared to May 2019 according to official figures released by the...

Property sales to foreigners continue to fall

The number of Cyprus property sales to foreigners continued to fall in July with numbers down to 36 per cent on the numbers sold in July 2019 according to the Department of Lands and Surveys.

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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