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Archive for October, 2011

Cypriot economy faces substantial risks

The International Monetary Fund has warned Cyprus that it must take swift action to shore up its economy, saying it faces strong head winds and substantial downside risks that are likely to persist.

Town Planning Amnesty: six month extension agreed

At the plenary parliamentary session last Thursday, Cypriot MPs voted in favour of a six-month extension to the period during which ‘Statements of Intent’ may be submitted under the provisions of the Town Planning Amnesty.

More than one thousand new home owners

Now that the crippling power cuts have ended and work has returned to normal, more than one thousand properties were transferred to their new owners in September.

Vanishing Cyprus: bank domination

In this article from his Vanishing Cyprus series, Andreas Chrysafis considers the developing banking situation and asks the question which government dares to do the right thing?

Cypriot real estate sales in freefall

There seems to be no way to stop the rapid decline in Cyprus property sales, which have been falling since July 2010 and which are now at levels lower than the year the market crashed in 2009.

Cyprus buyers stage protest at overseas property show

A group of British property buyers who believe they have been defrauded or mis-sold property in Cyprus staged a protest outside the ‘A Place in the Sun Live’ overseas property exhibition at the NEC in Birmingham.

Property in Cyprus action support group

The ‘Property in Cyprus Action Support Group’ (PICAS), which offers access to reliable, qualified information and assistance regarding property ownership and other matters, has recently launched its website.

Resale villas and apartments offer safer investments

Given all the uncertainties and doubts about buying off-plan property in Cyprus, why not consider a resale villa or apartment as these offer safer investments and often, better value for money.

Legislation changes will not end Title Deed nightmare

The tardy, dishonest and purposefully complex manner in which Cyprus chooses to sell property will rebound explosively on those involved in the supply chain; the town planning amnesty will bring no peace.

Town Planning Amnesty – plan to extend and simplify

The House Interior Committee has unanimously proposed that parliament grants a six-month extension to the period during which ‘Statements of Intent’ may be submitted under the provisions of the Cyprus Town Planning Amnesty.

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