Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Monthly Archives: July, 2015

Building extensions amnesty slammed

Opposition parties have slammed the new measures to legalise formerly illegal building extensions announced by the cabinet yesterday claiming that they give favourable treatment to property developers.

Illegal building extensions amnesty

The Cyprus government is to introduce new measures to legalise formerly illegal building extensions by allowing people to add 20 per cent of their building's co-efficient until the end of 2020.

Title Deed regulations approved (updated)

The Cabinet has approved the Title Deed regulations needed to implement the 'hidden mortgages' law to protect home buyers in Cyprus who were duped into buying property that developers has previously mortgaged to the bank.

Cyprus property prices continue downward

Cyprus property prices continued to fall during the second quarter of 2015 according to the 23rd edition of the RICS (Royal Institution of Chartered Surveyors) Cyprus Property Price Index.

Reduced property transfer fees (update)

The law reducing the Cyprus Property Transfer Fees for transfers that take place before 31 December 2016 has been published and will be particularly welcomed by those waiting for their deeds.

Aristo innocent

Theodoros Aristodemou, the founder of Aristo developers and former chairman of the Bank of Cyprus and three others have been found innocent of all charges relating to the alleged illegal division land at Skali.

Troika turns up the heat on Title Deeds

Cyprus will not receive the next tranche of the bailout loan from the troika until it enacts legislation to protect those home buyers who have paid for their properties but have not received Title Deeds.

Construction activity worst in Europe

Construction activity in Cyprus suffered the biggest decline in production year-on-year in Europe during the first quarter of 2015 according to statistics published in yesterday's Eurostat newsrelease.

Who is parliament trying to protect?

We have to ask the question who is the Cyprus parliament trying to protect following the decision of the House Finance Committee not to put the 'hidden mortgages' bill before a plenary meeting of the House.

Pissouri report this month

Home owners living in the Limnes (lakes) area of Pissouri met yesterday to hear what progress was being made to resolve the land slippage problem causing structural damage to their properties.

September vote on hidden mortgages bill

A vote on the 'hidden mortgages' bill designed to resolve the mess of those who have paid for their property but cannot get its Title Deed because it was mortgaged by the developer will take place in September.

Troika starts seventh review

The troika of Cyprus' international lenders started its seventh review of the island's economic adjustment programme yesterday with the repossession of mortgaged properties high on its agenda.

Aristo trial court ruling July 28

The court will issue its judgement in the case against Theodoros Aristodemou, the founder of Aristo developers and former chairman of the Bank of Cyprus, and three others on July 28.

Crocodile park protest tomorrow

A protest against the proposed crocodile park in Cyprus near the Choirokoitia exit on the Nicosia-Limassol highway will be held tomorrow at 11:00 am outside the Ministry of Agriculture and Environment.

MP defends hidden mortgages delay

Cypriot MP Giorgos Perdikis has defended the delay in passing the 'hidden mortgages' bill saying that "If they (the government) had wanted the (title deeds) bill expedited they should have asked."

Cyprus home construction weakens

The previous strong growth in new home construction in Cyprus was reversed in April with the number building permits authorised by the authorities for new homes falling compared to last year.

MPs slammed over hidden mortgages bill

The Cyprus Interior Minister Socratis Hasikos slammed MPs for shelving the Title Deeds bill designed to address the inability of home buyers to get the deeds to the property they purchased.

Property sales increase (Updated)

The number of properties sold in Cyprus during June increased compared with the same month last year according to official statistics published by the Department of Lands & Surveys.

Parliament approves casino bill

Legislation passed by a majority Cyprus MPs at the plenary session of parliament earlier today paves the way to the operation of a casino resort in Cyprus after many months of discussion.

Property transfer fees halved

Following a unanimous vote by MPs at the House plenary earlier today, Property Transfer Fees are to be cut by 50 per cent on all property sales that take place before 31 December 2016.

Most Read

Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.

Historic collapse of property sales

Property sales in Cyprus have collapsed as a result of the coronavirus pandemic to a level only seen once before when the events of March 2013 made Cyprus a household name around the world.

Building permits maintaining strong growth

The number of building permits authorised in Cyprus during February 2020 provided for the construction of 680 new homes; an increase of 18 per cent compared to February 2019 according to official figures.

Cyprus passport programme under fire again

The Cyprus citizenship by investment programme, which enables well-heeled foreigners to obtain an EU passport for investments of at least €2 million, has come under fire again from the European Union.