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Archive for December, 2011

Forty thousand non-Cypriots caught in Title Deed trap

Despite government efforts to speed the issue of Title Deeds, the number of non-Cypriot buyers waiting for their deeds continues to grow and now stands at more that 40,000 according to the Department of Lands and Surveys.

Natural gas find offshore Cyprus worth tens of billions

On Wednesday, Nobel Energy announced that it had found natural gas reserves offshore the Republic of Cyprus and that results from drilling and initial evaluation work indicate the reserves amount to between 5 and 8 trillion cubic feet.

American interested in massive tourist investment

Local media reports that a foreigner, believed to be an American, met with President Demetris Christofias yesterday to discuss investing in a massive tourist development on the Island.

What will it take to stop the rot in the property market?

This year has been a disaster for the Cyprus property market with the number of sales falling below those of 2009, the year the market crashed, and prices that are in a downward spiral with no sign of a recovery.

O’Dwyer aid marks a Cyprus legal first

Conor O’Dwyer, whose dispute with Paralimni-based property developer Christoforos Karayiannas & Son Ltd has been dragging on for more than six years, has been granted legal aid to continue his civil action.

RICS index reports falling real estate prices and rents

The eighth issue of the RICS Cyprus Property Price Index reports that real estate prices and rents across the Island’s main urban areas continued to fall during the third quarter of the year.

Joint venture in Nicosia to get underway

Earlier today bulldozers moved in to a military camp in Nicosia and started to demolish it in readiness for the re-development of the area in a joint venture between the Republic of Cyprus and Qatar.

Property prices under pressure

According to figures released by the European Central Bank on Tuesday, property prices in Cyprus fell by 4.9 percent during the first half of 2011, almost twice the fall experienced in 2010.

Top 10 stories from Cyprus Property News in 2011

The chart topper in our annual list of the most read articles published during the year brought news that the Alpha Bank had started legal proceedings against a number of developers and their clients.

Cyprus’ popularity slips two places

The popularity of Cyprus as a destination for overseas property investors slipped two places to the number nine spot in the November ‘Top of the Props’ chart published by

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