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Archive for October, 2012

How much do Title Deeds cost?

I am often asked the question “how much do Title Deeds cost and are they worth the expense?”; there is much confusion particularly amongst buyers from overseas who may not appreciate the benefits.

Homeowners need protection from troika proposals

Troika’s proposal to accelerate loan recovery by the banks could spell disaster for many home buyers; they could lose their homes within 18 months even though they may have paid for them in full.

Slump in construction activity continues

The Cyprus construction industry’s slump continued in July with building permit numbers rising slightly compared to July last year, according to the latest figures from the Cyprus Statistical Service.

High-ranking officials accused of abusing state housing

A Cypriot MP has said that government housing in Troodos is being “scandalously” abused by high-ranking state officials, while some properties have been sub-let to the private sector at ‘outrageously low’ rates.

Is litigation the answer?

Will a protracted legal battle against the Alpha Bank in Cyprus concerning the alleged mis-selling of Swiss Franc mortgages achieve a positive result or can more be achieved through negotiation?

Moody’s slashes Cyprus government bond ratings

Yesterday Moody’s Investors Service downgraded Cyprus’ bond ratings three notches further into junk territory and it’s ratings on three Cypriot banks citing “profound difficulties” in the island’s banking sector.

Government hunts property fraudsters in Switzerland

Undeclared deposits held by Cypriots in Switzerland relating to a property fraud scheme and the stock exchange scandal are being targeted by the government as part of its crack down on tax evaders.

Government tax hike will hit small home owners

Contrary to assurances given to the media by the Interior Minister Eleni Mavrou that small home owners would not be hit by increases in property taxes, government plans tell a different story.

No let-up in catastrophic sales downturn

September sales figures from the Cyprus Department of Lands and Surveys show that the number of properties sold across the island continues to fall with overall sales declining by more than a quarter.

Are we about to meet our NAMAsis?

One of the key suggestions in the Troika’s draft proposals for Cyprus is the establishment of an Asset Management Company along the lines of NAMA – Ireland’s National Management Agency.

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