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Archive for 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.

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