Complimentary tickets to ‘A Place in the Sun Live’

Nigel Howarth
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Complimentary tickets to ‘A Place in the Sun Live’

complementary-tickets-A-Place-in-the-Sun
Laura Hamilton, Jasmine Harman, Jonnie Irwin and Amanda Lamb
A PLACE IN THE SUN LIVE is the UK’s largest and best attended overseas property exhibition next taking place at Olympia London 28th-30th March 2014.

The official exhibition of the hit television series, A Place in the Sun Live attracts thousands of serious overseas property hunters every spring and autumn. There are hundreds of exhibitors showcasing properties from countries such as France, Spain, Italy, Portugal, Turkey, Cyprus and USA providing the perfect opportunity for visitors to meet agents, developers and service providers face-to-face.

There’s a packed programme of free-to-attend seminars in The A Place in the Sun Hub with advice and insight from Jasmine Harman, Jonnie Irwin, Amanda Lamb and Laura Hamilton, gained from many house-hunting episodes around the world with the A Place in the Sun TV crew. And with A Place in the Sun Editor Liz Rowlinson hosting panel sessions with industry insiders and expert Q&As, there’s everything from the fun of the hunt to the serious business of buying overseas property the right way.

For more in-depth information on particular destinations, there are dedicated feature areas and seminar theatres for the most popular countries with the French Property Village, Italian Property Pavilion, Portuguese Property Pavilion and Florida Property Pavilion. Focussed, dynamic and ever-popular, these areas deliver a full day’s worth of information for the house buyer who knows where they plan to buy.

Complimentary tickets

Once again, the organisers are offering free tickets worth £10 each – and you can get yours by clicking on your complimentary ticket to A Place in the Sun Live and following the instructions.

Further reading

‘How to Buy Overseas Property Safely’ – a 49 page consumer guide from the Association of Independent Property Professionals (AIPP).

‘How to Buy Property in Cyprus‘ – advice from the UK Foreign & Commonwealth Office.

British bases land development agreement

Nigel Howarth
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land development dealRESTRICTIONS are to be lifted on the development of locally owned property within British military bases on Cyprus, the island’s president said during a visit to London.

Nicos Anastasiades announced that a deal had been struck with the UK as he sat down for talks with Prime Minister David Cameron at 10 Downing Street.

“Our warm thanks and my appreciation for the historical agreement which has been signed today referring to the development of private property in the British bases,” he said.

Until now Cypriots were unable to make changes to homes within the boundaries of the UK Sovereign Base Areas at Akrotiri and Dhekelia, which count as British territory.

Mr Anastasiades also welcomed what he said had been Britain’s “prompt and decisive” actions in helping the country deal with its financial crisis last year.

Mr Cameron said that his efforts to secure reforms to the European Union would be on the agenda for the talks – as well as “the prospects for peace and reconciliation in Cyprus”.

The base areas, retained under UK jurisdiction when Cyprus was granted independence in 1960 as military not ”colonial” territories, are home to around 10,000 Cypriots.

Under the terms of the deal, they will now enjoy the same planning regime as other residents of the Republic of Cyprus – though with “appropriate safeguards” of UK military needs.

Around 60% of the 98 square miles covered by the base areas – 3% of the east Mediterranean island’s total land area – is privately owned.

The agreement was announced by Anastasiades on Tuesday during a working dinner with the Secretariat of the National Federation of Cypriots in the UK and was signed between Foreign Minister Ioannis Kasoulides and Foreign Secretary William Hague at Carlton House.

Further reading

The arrangement between the government of Cyprus and the government of the United Kingdom relating to the regulation of development in the Sovereign Base Areas.

Pay up and shut up

Nigel Howarth
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Pay up and shut up

Anastasiades tells Bank of Cyprus debtors to payPRESIDENT Anastasiades has offered his full support to the Bank of Cyprus CEO John Hourican saying that those who owe the financial institution money have no option but to pay.

The President made the statement when he was asked to comment on reports that the bank was putting increased pressure on thirty large borrowers, whose total non-performing loans exceed €6 billion, to pay. He also noted that no-one in Cyprus has the luxury to act as in the past and this needs to be hammered into the conscience of each and every resident of the island.

The President also referred to past errors, behaviours and inadequate supervision, all of which had contributed to the island’s financial situation as it stands today.

In closing, President Anastasiades said that he is ready and willing to adopt any measures that could improve the health of the Bank of Cyprus.

(In its second review of the Cyprus economic programme, the Troika noted that the Bank of Cyprus will:

“In the medium-term two separate units will be created, one for “normal” NPLs, and one “Special Projects Division” for the top 22 corporates and real estate developers. With a focused approach, it will be attempted that the NPLs of the top 22 corporates will either start performing again or that action may be taken to seize the collateral.”)

Developers want more time to pay banks

George Psyllides
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Developers want more time to pay banks

FORECLOSING on large developers would not solve the liquidity problems faced by banks, but they are asking for time to settle their debts and continue to operate.

Speaking on behalf of the developers, Andreas Sandis said the country’s interests would not be served if there was a fire sale of real estate during a recession and while the construction sector was at its lowest ebb.

Foreclosures would be catastrophic for the sector, he said, suggesting they could come to an arrangement with banks to pay an instalment and cover the interest to prevent seizures.

Interior Minister Socratis Hasikos said on Thursday that €500m worth of foreign investments were made in Cyprus during the last eight months of 2013, primarily through the land-for-residency scheme, primarily to non-EU nationals, such as Chinese and Russians.

Developers have asked the government to provide additional incentives, and expedite procedures.

Sandis said the incentives could be more attractive to appeal to foreign investors who would bring their money to Cyprus.

He said state departments must push for title deeds to be issued immediately so that property owners receive them as soon as the home is completed.

more time

Cyprus back in the top 10

Nigel Howarth
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Cyprus back in the top 10

CYPRUS moved back into the top 10 in the latest ‘Top of the Props’ report published by the property portal TheMoveChannel.com, accounting for 1.74% of on-line searches on the property portal.

North America retained its number one spot for the sixth successive month although enquiries fell to 12.76% of the overall total, while Spain kept its second position accounting for 8.67% of enquiries.

Brazil moved up into the number three spot, followed by Portugal at number four and France at number five. Argentina was a surprise new entry into the Top 10, moving up 18 places to take number six.

Canada moved up to number seven, followed by Turkey, Thailand and finally Cyprus at number ten.

The full breakdown of the December 2013 edition of the Top of the Props chart is as follows:

Rank
Country
Share (%age)
Change
1 USA 12.76 No change
2 Spain 8.67 No change
3 Brazil 5.61 Up  2
4 Portugal 3.99 Down 1
5 France 3.81 Down 1
6 Argentina 3.41 Up 18
7 Canada 2.86 Up 3
8 Turkey 2.66 Down 2
9 Thailand 1.96 Down 1
10 Cyprus 1.74 Up 2
11 Italy 1.71 Down 2
12 Hungary 1.67 Up 5
13 India 1.65 Down 2
14 Bulgaria 1.52 Up 6
15 Germany 1.46 Up 6
16 Greece 1.09 Up 3
17 Ecuador 1.00 Down 1
18 Croatia 0.86 Up 8
19 South Africa 0.69 Down 6
20 UAE 0.62 Up 2
21 Cape Verde 0.61 Down 7
22 Pakistan 0.57 Up 10
23 Barbados 0.54 Up 6
24 Romania 0.52 Up 13
25 Guernsey 0.44 Down 2
26 Malta 0.39 Down 1
27 Poland 0.38 Up 4
28 Cayman Islands 0.35 Down 21
29 Australia 0.30 Up 5
30 St Lucia 0.25 Down 3
31 Belize 0.22 Down 3
32 Bahamas 0.22 Up 4
33 Switzerland 0.21 No change
34 Slovenia 0.21 Up 4
35 Egypt 0.19 Down 5
36 Albania 0.19 No change
37 Morocco 0.18 No change
38 Austria 0.16 Up 11
39 New Zealand 0.14 Up 5
40 St Vincent and Grenadines 0.12 Up 5

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners. Its ‘Top of the Props’ chart is based on the number of on-line enquiries for property in different countries around the world.

Developers attract half billion of fresh money

Editorial
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Developers attract half billion of fresh money

LAND development business has brought €500 million of fresh money to Cyprus despite the financial crisis the country is facing, Minister of the Interior Socratis Hasikos has said, adding that the sector should be assisted to overcome its problems.

The Cyprus Association of Land Developers, accompanied by Hasikos, briefed the President of the Republic Nicos Anastasiades on the problems facing the sector which accounts for 16% of Cyprus GDP.

“The sector is one of the main areas attracting foreign investors,” Hasikos said in statements following the meeting, adding that the majority of the hundreds of millions of investment that came to Cyprus in the past eight months, mainly by non EU citizens wishing to obtain permanent residency or citizenship, were channelled by these businesspeople.

As land development businesses face mounting pressure to repay their loans which according to press reports amount to billions of euros, Hasikos said that the government intends to facilitate their efforts to overcome their problems and strengthen attempts to attract investors.

On his part Pantelis Leptos, the Association’s President, said the sector has brought “huge investments to Cyprus amounting to €500 million in this challenging period, adding that the industry could attract even bigger investments if it is given incentives”.

Replying to a comment that the biggest land developers have sizeable debts to the banks, Leptos said that restructuring measures aiming at restructuring non-performing loans should be taken in the light of new developments following the Eurogroup decisions on a bailout which Cyprus has agreed with its international lenders in March last year.

“These measures should be realistic and feasible,” he said.

In March 2013, Cyprus and its international lenders (EC, ECB and the IMF) agreed on a €10 billion bailout which featured a haircut on deposits over €100,000 to generate capital for the ailing banks. Amidst increasing non-performing loans, Cyprus banks and mainly, Bank of Cyprus, the island’s largest lender has increased pressure on land developers to start servicing their loans. According to press reports, Land developers are the largest customers among a list of BOC customers that owe the bank €6 billion.

Source:  Cyprus News Agency

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