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A new dawn for the Cyprus property market?

Next year could see the dawning of a new era in the Island’s property market following the introduction of the proposed changes to the property laws; Andreas D. Symeon explains.
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Top 10 stories from Cyprus in 2010

The chart topper in the Cyprus Property News’ annual list of the Top 10 stories highlights the practices of the Island’s nefarious property developers in a spoof video featuring Adolf Hitler.
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Will UK govt help Brits caught in Cyprus scams?

Will the UK government be prepared to step in and help Brits in Cyprus who have been caught in property scams by repeating the initiative it has shown in Spain by its intervention to help expats caught in the Spanish property scams?
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Plans for new shopping malls in Cyprus

Plans have been unveiled for the construction of two shopping malls in Cyprus; one in the area of Lakatamia-Anthoupolis in Nicosia, the second in Paphos.
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Could Spanish nightmare happen in Cyprus?

Could a nightmare case in which a couple may lose their UK home as a consequence of missing their mortgage repayments on a flat in Spain happen in Cyprus?
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Cyprus rating cut on banks’ Greece exposure

Rating agency Standard and Poor's downgraded Cyprus' sovereign credit rating by one notch and set the outlook as 'negative' as a result of increasing vulnerabilities in the Island’s banking system.
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The EU and the Cyprus property scandals

The Cyprus Property Action Group considers the implications of the EU Unfair Commercial Practices Directive on the property scandals taking place in Cyprus which, it believes, could have monumental implications.
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Legal lifeline for Cyprus property buyers

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.
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Moody’s: Cyprus property market remains a risk area

The Island’s once booming property market “remains a risk area with weak demand and unclear growth prospects” according to Moody’s, the international ratings agency.
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Vanishing Cyprus: Developers’ Bonanza

In this article from his Vanishing Cyprus series, Andreas Chrysafis deplores the environmental and social impact that property developers and government policies are having on the island and its people.
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Cyprus companies linked to Greek property scam

Authorities in Greece and Cyrus are investigating a massive property scam ring that has been operating undetected for the past five years.
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Can the Cyprus banks pursue me in the UK?

I have been contacted by many British buyers who have received warning letters at their UK addresses from developers and banks in Cyprus concerning delayed mortgage repayments.
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Cyprus overseas property market review

It is hard to believe that the Cyprus overseas property market has collapsed so suddenly and so dramatically. In a few short years, sales of property to overseas investors have plummeted significantly compared to the numbers formerly sold.
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Europe says developers in breach of EU Directive

MEP Ashley Fox’s questions in the European Parliament concerning unscrupulous developers in Cyprus who make misleading claims regarding building and planning approvals are in breach the ‘Unfair Commercial Practices Directive’.
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MEP questions Cyprus on planning and building regulations

Once again, Cyprus has come to the attention of the European Union Parliament with Ashley Fox, MEP for the South West of England and Gibraltar, raising a number of questions concerning the Island’s planning and building regulations.
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I would not have bought in Cyprus had I known

An overwhelming number of our readers would not have bought a property in Cyprus had they known that their developer had mortgaged the land on which it was built.
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Cyprus overseas property market recovery faltering

The recovery in Cyprus’ beleaguered overseas property market may be faltering according to the latest figures released by the Department of Lands and Surveys.
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Cyprus building permits up in May

Latest figures from the Cyprus Statistical Service show that building permits for the construction of 1,337 residential properties were authorised in May 2010, an increase of 12.3% over the 1,191 authorised in May 2009.
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Cyprus property sales improving

The number of property sales in Cyprus during the first six months of the year has improved by almost a quarter on the number sold during the first six months of last year. However, they are still less than half of the number sold during the first six months of 2008.
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Moody’s cuts Cyprus’ two main bank ratings

Moody’s has downgraded the deposit and debt ratings of the Bank of Cyprus and the Marfin Popular Bank. According to their report “The country’s real estate market, which is a significant component of the banks’ loan books, remains a risk area with unclear growth prospects and weak demand”.
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