Latest Headlines

Reports written by Alan Lawton

Property protest during President Christofias London visit

Expatriate property buyers frustrated by the inept Cypriot judicial system are to protest at London’s Alexandra Palace on May 18th where the President of the Republic of Cyprus, Demetris Christofias, will address a gathering of the Cypriot community at 3pm. Problems suffered by property victims range from the non issuing of Title Deeds, structural faults, […]

EU inquiry into Cyprus estate agents rules

According to a number of press reports, the European Commission has sent Cyprus an official request for information on its laws governing estate agents; it considers these may not be compatible with EU internal market laws. Cyprus passed a law in July 2007 that imposed conditions on the professional requirements of estate agents from other […]

Falling Cyprus property sales

ACCORDING to reports in the Phileleftheros and Cyprus Mail newspapers, Capital Gains Tax receipts resulting from the sale of property in Cyprus during the first quarter of 2008 have dropped by more than 5 million Euro. The reports states that receipts in the first quarter of 2008 fell to €90.86 million compared with €96 million […]

Paphos property sold for 66 million

According to Stockwatch Ltd, KEO has sold its property at the Tombs of the Kings in Paphos to a joint venture of Athienitis and Aristo Developers for €66 million. According to newspaper “Politis”, the development will be uniform but the property will be separated in two parts, the commercial and the housing. Aristo will deal […]

Moratorium on golf courses

Ecologists have requested the Cyprus government to impose a moratorium on the issue of new licenses for the golf courses. In their announcement released today, they demanded the “freezing” of the procedures until the adoption of extraordinary measures to deal with the current water supply crisis. The Ecologists also requested the minimization of the water […]

European house price boom ‘is over’

The great European house price boom ended in 2007 according to a new report predicting storm clouds on the horizon for the Continent’s property markets. Only Cyprus and Iceland saw house prices outstrip the previous year’s performance, according to the Royal Institution of Chartered Surveyors report, which called the end of the property goldrush. Report […]

New Cyprus president elected

LEFT-WING Cypriot leader Demetris Christofias has won the presidential election, defeating rival right-winger Ioannis Kasoulides. In a victory speech, he promised to work on re-uniting the divided island. Mr Kasoulides congratulated him on his victory and offered to help find a solution to the division of Cyprus. Cyprus has been divided since 1974 when Turkey […]

Cyprus president ousted

The closest-ever election in the Republic of Cyprus has ended President Tassos Papadopoulos’s five years in power. The MEP Ioannis Kasoulides won the knife-edge poll by just 980 votes, after a turnout of around 90%. The former foreign minister will face Demetris Christofias, who came second, in a run-off vote next Sunday. The election is […]

Building permits top 20,000

Earlier today, the Cyprus Statistical Service (CySTAT) announced that during 2007, the number of dwelling units for which building permits had been authorised topped 20,000 for the first time ever, reaching a staggering 20,486. Although the numbers were slightly down for Nicosia and Paphos, they were up for Limassol, Larnaca – and most notably Famagusta, […]

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