TWO MILLION visitors have now visited Cyprus Property News since the site was re-vamped a couple of years ago; that’s more than double the Island’s population.
The landmark number was reached around 10:30 this morning, Cyprus time.
Over the years we have reported on the rise and fall of the Island’s property market and published property-related articles and items of news that we hope you find interesting and informative.
In recent times, much of the news has been very negative. The continuing Title Deed fiasco, high prices, problems with the economy, record levels of unemployment, lack of liquidity and the general uncertainly about what the future holds have resulted in a dramatic downturn in sales.
Although the government introduced yet another amnesty planning last year, replaced the old Specific Performance law in efforts to improve investor confidence, reduced Property Transfer Fees – the local equivalent of the UK’s Stamp Duty Land Tax (SDLT) – sales remain at numbers last seen a decade ago, before the property boom.
Clearly the Cyprus government has to do much more to restore investor confidence and encourage the property market. Title Deeds must be available for transfer on delivery of a property like most other civilised countries.
Proper enforcement of the law is another critical issue. Illegal construction works have to be stopped. This would remove the need for any planning amnesties, which in any case do not appear to be very effective.
But to close on a lighter note and to celebrate our two millionth visitor, the video below is a 1964 comedy film lasting 40 minutes. It shows a brick-by-brick account of the building of a young couple’s dream home from the day they sign the contract to the day, several years and children later, when they finally move in.
The story is a wordless comedy of errors as incompetent builders struggle to complete their house.
Any similarity to person or persons living or dead is purely coincidental. But I am sure that many will see something in the film reminding you of your experiences when buying a new home in Cyprus.