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29th March 2024
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Property taxes to raise 80 – 100 million Euros next year

Charilaos Stavrakis, the Cyprus Finance Minister has presented a package of measures which include raising 80 to 100 million Euros from taxes on property next year as part of the Government’s overall plans to get the Cyprus economy back on track.

Tax revenues slump, deficit increases

According to reports, Cyprus tax revenues slumped during January - November 2009 and the fiscal deficit increased to more than 3% of the island's Gross Domestic Product, which means total losses during the period exceed €500 million.

Working together for proper Title Deeds law

The Cyprus Ministry of the Interior has put serious efforts to bring about a drastic and definite solution on long existing problem of the issuing of Title Deeds. This is a good time for all to work together to resolve the situation.

Title Deed problems tarnishing Cyprus says minister

At the recent real estate conference the Cyprus Interior Minister, Neoclis Sylikiotis, said the failure to process 130,000 title deeds snared in the system was tarnishing Cyprus’ reputation among foreign investors.

Stimulate Cyprus property sales by lowering prices

If developers in Cyprus want to stimulate property sales, they must lower their prices. Economic conditions have changed dramatically over the last year and people are not prepared to pay the same prices today as they were a year ago.

Gaping hole in government revenues

The collapse of the Cyprus real estate market has resulted in a gaping hole in government revenues.

Number 10 replies to Cyprus petitioners

More than 2,000 people added their names to a UK Government’s Number 10 e-petition urging the Prime Minister to exert pressure on the Government of Cyprus to protect property rights.

Less than one in five has Title Deeds

According to a recent on-line poll conducted by the Cyprus Property News, less that one in five of those who have bought property on the island have their Title Deeds.

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