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Archive for 2011

Transfer fee abolition/reduction law published at last!

After nearly a month since MPs voted unanimously to abolish/reduce Property Transfer Fees for a period of six months, the amended law has finally been published in the Cyprus Government Gazette.

Alpha Bank moves to repossess homes built by Liasides

More than 100 people face losing their homes following applications filed by the Alpha Bank to auction eight plots of land that it mortgaged to bankrupt property developer Yiannis Liasides.

Cyprus: A country in denial and a scandalous political leadership

Despite frequent warnings from the market, the ECB and the Cyprus Central Bank and repeated downgrades by the credit ratings agencies, Cyprus and its political leadership remain in denial.

Title deeds are key to restoring market confidence

When asked our readers their opinion on the most important factor in getting the Cyprus property market back on its feet, more than half replied that Title Deeds should be readily available on delivery of a property.

MEP calls on EU to protect those buying homes abroad

MEP Diana Wallis has increased her efforts to resolve the problems faced by thousands of expatriates who have purchased overseas property in EU member states with the publication of a booklet “European Property Rights and Wrongs”.

Construction investment decline continues

Investment in the Island’s construction sector is continuing to decline according to figures published earlier today by the Cyprus Statistical Service, which reveal a 13.3 percent fall in the number of building permits issued over the first nine months of this year compared with last.

Expats to give evidence to MRI investigation in Spain

More than fifty expatriates from England and Ireland have been summonsed to appear in court in the Spanish town of Marbella to give evidence against property millionaire Darragh MacAnthony the former boss of MRI.

An end to greedy developers extorting cancellation fees

The days when greedy property developers could extort contract cancellation fees from purchasers who wished to sell a property in Cyprus before its Title Deed had been issued have come to an end.

EU to investigate community tax discrimination claims

British expatriates who are outraged at paying higher taxes than their Cypriot friends and neighbours living in their Community at Kouklia, a village some 10 miles south of Paphos, are taking their case of alleged discrimination to Europe.

Governor warns Cyprus is at the edge of the precipice

The Governor of the Island’s Central Bank has warned that Cyprus is at the edge of the precipice and has called on the government and parliament to work together to overcome opposition from the unions to proposed austerity measures.

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