Latest Headlines

Property Scams

Cyprus and Hungary linked in property scam

YESTERDAY a Hungarian court ordered the leader of the Liberal group in one of the districts of Budapest to be held for 30 days while an investigation is conducted into fraud charges. Charges against György Gál, who is chairman of the district’s economic committee, involve the fraudulent sale of land belonging to the municipality. Gál […]

Cyprus property lawyer says contract cancellation fees are illegal

A major problem has been created by greedy property developers who insist on claiming cancellation fees from purchasers. The developers try to take advantage of buyers who wish to re-sell property purchased without a separate title deed.

Property buyers get “one finger salute” from Government

Home buyers and property investors will be outraged to learn that the Cyprus Government has given them a “one finger salute” by refusing to take action against property developers who illegally demand money from them under the guise of ‘Immovable Property Tax‘. A widely reported example of this scam involves an 83 year old British […]

MacAnthony malpractice judgement by NFOPP

The tribunal were appalled to hear of the Company’s misleading business practices, including unfulfilled promises of guaranteed rental returns and misleading descriptions of the facilities that would be available to owners.

Immovable property tax & fraudulent practices

The Immovable Property Tax law based on 1980 values is to most foreigners a very confusing concept which has no parallel in other EU countries. Relying on this confusion, developers ensnare and contain clients in the Title Deed trap.

Lobby slams property tax scam

A GROUP of Paphos expat home buyers who checked with the authorities how much they should pay in Immovable Property Tax (IPT) discovered that their developer was charging them each 500 times too much annually. According to the website of the Inland Revenue Department, IPT is imposed on the value of the property as it […]

Brit loitering with intent aims to shame Cyprus into action

BRITISH home buyer Conor O’Dwyer marked his 39th birthday yesterday far away from his wife and children as he continued his indefinite protest outside the Cyprus High Commission in London. O’Dwyer began his protest camping outside the Cypriot diplomatic mission this month because August marks two years since he was due to move his family […]

Property scam reported in UK stockbroker belt

Yesterday, Conor O’Dwyer’s plan to “sleep rough for justice” outside the Cypriot High Commission in St James’ Square London made front page news in the UK. Conor’s story appeared in the Advertiser, a local newspaper distributed throughout Surrey’s famous stockbroker belt to the south west of the capital. The newspaper plans further reports of Conor’s […]

Property insulation scam

THE Cyprus Green Party General Secretary, George Perdikis, yesterday claimed properties were being sold under the pretext of being insulated, when they in fact weren’t. He claimed that financial interests were hidden behind a recent alteration of regulations for house insulations. “Following the intervention of higher interests, the laws on insulation have been altered in […]

Elderly widow victim of property scam

AN 83-YEAR-OLD British widow who has been waiting 29 years for the title deeds to her home was shocked recently to receive an Immovable Property Tax (IPT) bill from her developer, Korfi Mountain Estates Limited, for €25,000 when it should have been around €430. The IPT bill amounts to nearly 50 per cent of the […]

Back to top