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Compensation for late delivery of a property
IN A CONTRACT OF SALE regarding immovable property, either off plan or under construction, there is usually a term stating that the purchaser is entitled to a specific amount of money as monthly compensation in the case of late delivery of the sold property. This term, however, is considered as a penalty clause and it […]
CPAG update on transfer taxes and IPT
Earlier today CPAG, the Cyprus Property Action Group, issued an update regarding transfer taxes (Property Transfer Fees) and IPT (Immovable Property Tax)
Is our home in Cyprus mortgaged?
We receive many letters from people who are concerned that their developer may have mortgaged the land on which their property has been built. Typical of those letters is the one below – together with my advice on how to discover whether or not your property has been built on mortgaged land.
Property Conveyancing in Cyprus
When buying property in Cyprus, lawyers representing the vendor and the buyer carry out the legal work required, which is known as conveyancing. The conveyancing process is fairly complicated and involves unravelling the legal jargon found in the Title Deeds, checking the background of the property, and various title searches. The process culminates in completion […]
Clouds gathering over the Cyprus economy
Risks, driven by world economy deceleration, Brexit as well as Cyprus’ domestic challenges are clouding the medium-term outlook of the Cypriot economy, an economic conference has heard.
Cyprus economy & real estate forecast 2014-2015
Although Leaf Research predicts that the downturn in the Cyprus real estate market is likely to continue, some positive prospects for the island’s economy and its real estate market are starting to appear.
MPs table bill to tax Airbnb-style rentals
A bill to regulate and tax the income on short-term Airbnb-style property rentals has been tabled by two MPs and should go before the plenum prior to the parliamentary summer recess.
Online property valuations revisited
A revised guide to finding Cyprus property valuations on the Department of Lands and Surveys website, which has undergone a major overhaul and now provides a multitude of additional features.
Zyprus: Cyprus property portal
The Zyprus property portal, which enables those wishing to buy, sell or rent a property in Cyprus to make better-informed property decisions, is Cyprus’ answer to Zoopla in the UK and Zillow in the USA.
Buyers and their odyssey: case studies
The Politics of Homeownership and Title Deeds (2) In last month’s issue of in In Touch we critically examined the historical, social and legal issues, outdated laws and legal contradictions and the collusion between the authorities, developers and vendors in general which have gradually let to the present sorry affair regarding “titleless” properties. The quest […]
