A number of investors are reported to have shown a keen interest in the Venus Rock project at the recent Cyprus Investors' Summit, which was held recently at the Four Seasons Hotel in Limassol.
The land on which the Kimon Phinikoudes project in Larnaca is to be built together with its designs has been sold by the Lefkaritis family to a group of Russian investors for an undisclosed sum.
A conference in Nicosia has heard that Chinese property buyers are slowly returning to Cyprus, but that the country needs to earn their trust if it wants them to make further investments.
Although the number of properties sold in Cyprus during July fell 13 per cent compared to July last year, they were boosted by an increase in sales to overseas investors in Nicosia, Limassol and Paphos.
A delegation from the Hong Kong-based conglomerate 'China Glory National Investment' was received by Cyprus President Nicos Anastasiades at the Presidential Palace on Monday.
As Cyprus steps up its charm offensive in China, media reports claim that Chinese investors (and those from other non-EU countries) will be granted visa-free throughout the EU once they have acquired a Cyprus residency permit.
Cyprus is not the only property market suffering from a lack of overseas investment. Next month, Dubai plans to introduce legislation designed to protect investors enabling them to obtain a full refund.
HM Revenue & Customs has set up a team of investigators to track down UK-based individuals who are letting out property in Cyprus and other countries without declaring its rental income.
After some months after being out of the top ten countries for overseas property investors, Cyprus is back in at the number seven spot in the October 'Top of the Props' chart published by TheMoveChannel.com.
Giovannis Kouzalis writes about his struggle for Title Deed reform and his belief that the proposed changes to the legislation will not solve the problem unless they are made much stronger, more precise, and provide immediate solutions.
