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All reports tagged with: "credit crunch"

Protect your property rights: Sign UK government petition!

TODAY saw the launch of an on-line petition asking the UK Prime Minister to exert pressure on the Cyprus Government to protect peoples’ property rights. Add your name now by visiting the: Title Deed Petition on the official website of the UK Prime Minister’s Office. Recent days have seen the pressure on Cyprus to resolve […]

Cyprus property owners association calls for action

THE Cyprus Association of Property Owners (KSIA) has added its voice to those calling on Government to resolve the Title Deed problems. Speaking yesterday at the Annual General Meeting of KSIA its president, George Strovolides, said that the problem is serious with more than 100,000 people without Title Deeds. “This unresolved issue is dangerous and […]

You cannot polish horse manure

EVERYONE knows there is a massive problem in Cyprus with unscrupulous property developers exploiting loopholes in the islands archaic laws to make huge profits for themselves. Exacerbated by intolerable bureaucratic delays in central and local government departments, the “Title Deeds-cum-fraud mess,” as one commentator recently referred to the problem, affects tens of thousands of Cypriot […]

British MPs and MEPs take up title deeds crusade

BRITISH MPs and MEPs have expressed their shock and concern over the title deeds scandal in Cyprus, and some have already taken the issue up with the government and the EU. “I find the accounts, which I have received of this chain of events scarcely credible,” said Nigel Farage MEP, the leader of the UK […]

Cyprus home buyers turn to Lords for Title Deed aid

THE BRITISH House of Lords is seeking answers as to why UK home buyers in Cyprus are still waiting for their title deeds and wants to know whether the British government intends to pressure Nicosia on the issue. Answers to the two questions tabled by Lord Jones of Cheltenham are expected in the coming week. […]

Credit crunch hits property market

THE credit crunch is hitting the property market in the Paphos region of Cyprus. Other businesses are also being affected including restaurants and hairdressers according to a report in today’s Cyprus Mail. It seems that the only ones seeing a boom are the charity shops. Credit crunch: Paphos feels the squeeze Businesses and charities in […]

Cyprus 13th in Top of the Props

IN THE September 2008 Top of the Props chart published by themovechannel.com, Cyprus maintains its position at number 13. The most popular investment destination for British overseas home buyers for a second successive month was the USA, followed by Portugal (up 4 places to number 2) and the United Arab Emirates (up 1 place to […]

Buy-to-let apartment rental yields

BUY-TO-LET investors in Cyprus are feeling the sharp end of the property market slowdown. The global credit crunch, exchange rate issues and falling rental yields have left many in a difficult financial position. Yet many developers and overseas property marketing companies continue to promote the island as an ideal investment opportunity claiming that Cyprus has […]

Is the Cyprus property market frozen?

THE ONCE lucrative property market has come to a standstill as buyers, sellers and banks wait for the full effects of the global credit crunch to show, said property experts yesterday. According to Charalambos Petrides, Vice President of the Property Valuers’ Association, the credit crunch has come at a time when the property market is […]

Cyprus property market enters recession

In a recent interview with StockWatch the Land Registry manager, Andreas Christodoulou, advised Cyprus property investors to expect a lower return on their investments as the market has entered a period of recession. In his interview, he said that property prices will stabilize in the next four years – then they will recover but at […]

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