Latest Headlines

Archive for February, 2012

Cyprus Government debt reached 67.5% in Q3 2011

Government debt in Cyprus increased to 67.5% of the Island’s GDP at the end of the third quarter of 2011 according to a press release issued yesterday by Eurostat, the Statistical Office of the EU.

Saga of the Title Deed rip off in Paphos

The actions of Land Registry staff in Paphos who seem to be ripping off foreigners by demanding excessive amounts of Property Transfer Fees from them are damaging Cyprus’ reputation and killing the overseas property market.

Cypriot developers find new ways to extort money

Nefarious property developers continue to exploit their customers by thinking up new ways of extorting money from them and using the threat of withholding Title Deeds to elicit payment.

Paying for my developer’s illegalities

A Pegeia resident demonstrates how the provisions of the Town Planning Amnesty enable ‘dishonest and devious developers’ responsible for planning infringements to escape the consequences of their actions.

Domestic sales improve – overseas sales decline

Although the number of properties sold to Cypriot buyers improved for a second consecutive month in January, there is still no sign of a recovery in the Island’s overseas property market where the number of sales continues to decline.

Fitch downgrades three Cypriot banks

Fitch Ratings has downgraded three Cypriot banks by one notch saying that finding private capital to cover their capital needs until June will be “difficult”. Fitch downgraded the three banks to BB+ from BBB- with negative outlook.

Perdikis to raise property law deficiencies in House

Cyprus MP George Perdikis is to question the House of Representatives over deficiencies in a law introduced last year that are preventing residents of leasehold properties Harbour Shore Estates at Coral Bay from getting their Title Deeds.

Cyprus may get a natural gas terminal

Following the discovery of significant natural gas deposits off Cyprus’ southern coast last December, one of the options Noble Energy is considering is a terminal in to provide gas for the domestic market as well as a potential for an LNG export project.

Back to top