Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Charles Charalambous

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Legal lifeline for Cyprus property buyers

Buyers can challenge purchases affected by developers' mortgages. Once a complaint has been lodged, the Competition & Consumer Protection Service of the Cyprus Commerce Ministry is obliged to investigate.

Qatar deal still in the balance

The deal signed by the Cyprus government and Qatari Diar Real Estate Investment Company to build a luxury hotel, commercial, residential and leisure complex in Nicosia is still in the balance.

Kuwait and China show interest in Cyprus

Kuwait and China have shown interest in investing in Cyprus tourism, real estate, container management and energy sectors according to the Minister of Commerce, Industry and Tourism Antonis Paschalides.

Cyprus to get financial ombudsman

The days of banks in Cyprus granting mortgages to home buyers without advising them that the land on which their property is built is already mortgaged may soon be over with the appointment of a financial ombudsman expected in the near future.

Is a property only worth what someone will pay for it?

An in-depth article by Charles Charalambous in the Cyprus Mail looks at the property transfer tax system and the consequences for property buyers resulting from the Land Registry re-assessing the amount tax payable using its own historical data.

Cyprus Property Action Group silenced by libel threat

Following a writ moved by Armonia Estates and Pantelis Leptos, the Cyprus Property Action Group has decided to close down its existing website.

Title Deed legislation in parliament by month end

The Cyprus Interior Minister, Neoclis Sylikiotis, expects the new legislation designed to clear the Title Deed backlog to be tabled before parliament later this month.

Critics fear impact of Cyprus marina project in Limassol

Critics of one of Cyprus’ largest infrastructure schemes, the luxury marina project at Limassol, have concerns over its financial and environmental impact and fear that it will throw the harbour’s little guys overboard.

Property buyers rights to be strengthened by new law

The Cyprus Interior Minister, Neoclis Sylikiotis, has asserted once again that the draft legislation currently under discussion is designed to strengthen the rights of property buyers and will create healthier conditions in the Island's real estate market.

Interest groups doubtful on Title Deeds legislation

Property groups in Cyprus remain sceptical of the effectiveness of the Title Deed legislation being proposed by the Interior Minister Neoclis Sylikiotis following his briefing to them last evening.

Cyprus Minister confident about Title Deed changes

The Interior Minister of the Republic of Cyprus, Neoclis Sylikiotis, is confident that the proposed Title Deed changes will work according to an interview in today’s Sunday Mail with Charles Charalambous.

Property group condemns Title Deeds laws

Just how much damage to the economy, the image of Cyprus and people’s lives will have been caused before the Government shoulders its responsibilities and resolves the Title Deeds issue once and for all?

Dark days ahead for Cyprus

Businesses and households in Cyprus are facing the most difficult three years in the last thirty, according to the autumn forecasts released yesterday by the European Commission in Brussels.

Property buyers at risk as second developer collapses

More people face loosing their homes in Cyprus as a second property developer is liquidated. Buyers of A&G built properties without Title Deeds have been left at the mercy of the banks.

BuySell Cyprus sues Brit for selling his own house

BuySell Cyprus Real Estate is suing a UK-based Briton for commission on the sale of his three bedroom house in Peyia even though he managed to sell it to a Greek Cypriot through his own efforts.

Cyprus law reforms are not a cure-all

The legal reforms proposed by the Cyprus Interior Minister Neoclis Sylikiotis are not a cure-all solution to the many Title Deed problems. Those who have been deceived into buying mortgaged property will continue to remain at risk unless the Government acts to protect their interests.

Legal stakes raised in Cyprus Title Deed scandal

A case about to come before the UK High Court in London against several Cypriot developers and lawyers could help to create a healthy property system in Cyprus according to Dr Katherine Alexander-Theodotou.

Sylikiotis shoots from the hip

If some of the smaller developers are now close to bankruptcy, then allowing them to go bankrupt would send a clear message to the rest of the market.

Property developer collapses

The reason the company has collapsed is not the crisis, but the fact that Cyprus’ legal and regulatory framework allows a builder with five years’ experience to set up as a developer and apply his own standards of commercial behaviour.

Proposals to accelerate Cyprus title deeds

The Finance Minister has received a number of proposals from the European party on ways that the process of issuing Title Deeds may be accelerated.

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