Further help for trapped buyers is provided by a Ministerial decree enabling Certificates of Approval to be issued for residential properties that fail to comply with the permits issued for their construction.
Several dozen Chinese families buying property Cyprus have reported being scammed by unlicensed real estate agents who take advantage of foreign buyers according to Marinos Kynegirou.
Although the 'hidden mortgages' bill is a positive step in the right direction, more needs to be done to resolve the issue of trapped buyers to enable those who have paid for their property to obtain its Title Deed.
Liquidators appointed to handle six of the eight companies comprising the Froiber Group has completed the work necessary to get Title Deeds issued for eight apartment buildings; efforts are concentrated on the rest.
Under a new Cypriot limitation law that came into force in July 2012, time is running out for people who fail to address their foreign currency mortgage predicament within the six year limitation period.
For the second month in succession, the number of properties sold to overseas buyers increased in December with properties in Paphos accounting for 50 per cent of sales to non-Cypriots.
The results of a survey conducted by the Tranio.Ru Internet Centre of Overseas Property portal provides an insight into Russian overseas property buyers, where and what they are looking to purchase.
A British buyer asks the Cyprus government when is it going to enforce existing legislation designed to protect the rights of those buying property and take action to pursue the guilty parties?
As reported last Sunday, the Alpha Bank has filed eight applications at the Paphos Land Registry to auction eight plots of land belonging to bankrupt property developer Yiannis Liasides.
Just six properties were purchased in Nicosia by overseas property buyers in November, while the total number of overseas sales during the month was down by 43 percent on the number sold in November 2010.
The Sale of Immovable Property (Specific Performance) Law, N81(I)/2011 ensures that when a buyer's Contract of Sale is deposited at a Land Registry office in Cyprus they are provided with a degree of legal protection.
London law firm Healys LLP has announced it will be working with a leading law firm in Cyprus to advise on claims of mis-selling in the Cyprus property market.
Buyers can challenge purchases affected by developers' mortgages. Once a complaint has been lodged, the Competition & Consumer Protection Service of the Cyprus Commerce Ministry is obliged to investigate.
The number of non-Cypriots buying property on the island has gone into freefall. The latest figures released on Friday by the Land Registry indicate that the message issued by the Interior Minister in July has failed to reassure foreign real estate investors.
This scam is endemic throughout the island; it's harming people's lives. The government is aware of it and so are the police. Why are they refusing to act?
