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Archive for May, 2012

Bailiffs strip Paphos Land Registry office

Bailiffs acting on a court order have stripped the Paphos Land Registry office of anything that wasn’t nailed down to compensate creditors whose land was expropriated for the Paphos/Polis road and who have yet to be paid compensation.

Construction quality of new homes set to improve

The first insurance provider offering a 10-year warranty against hidden (latent) defects for newly built and converted homes and commercial property has established a presence on the island.

Building industry warns of action over new VAT law

The island’s Employers and Industrialists Federation has called for the immediate abolition of the new VAT law, warning that failure to do so will lead to the construction industry taking “dynamic measures”

Little interest in Town Planning Amnesty

Speaking at the House Interior Committee, the Interior Minister said that the public was showing little interest in the Town Planning Amnesty and that the numbers of applications submitted were unsatisfactory.

Town Planning Amnesty: further extension announced

A further six-month extension to the Town Planning Amnesty, which was introduced a year ago, has been announced by the Interior Ministry. The amending laws were published in the Cyprus Gazette on April 6.

No end in sight to the collapse in property sales

With the exception of January, when sales improved compared with January 2011, property sales in Cyprus have been shrinking for the past 22 months with no signs of a recovery in the foreseeable future.

Massive gas finds off Cyprus announced in New York

At a function held at the Cyprus US Chamber of Commerce in New York, Noble Energy’s CEO announced that the company has discovered much larger quantities of natural gas in the Eastern Mediterranean.

No respite as property slump continues in 2012

Property and rent prices have continued to drop in the first quarter of 2012, making it harder for the Cyprus market to exit the slump, a spokesman for RICS Cyprus said on Wednesday.

New home construction in February down a third

There are still no signs of a recovery in the Island’s construction sector with the number of new residential properties authorised in February falling by a third compared with February 2011.

Armou resident warns visitors enter at your own risk

As homes on a stricken development in Armou continue to slip and gaping holes appear, one resident has put a warning sign on his gate post warning visitors to enter at their own risk.

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