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Title Deeds

More work needed on Title Deeds

There is still considerable work to be done on what the EC refers to as "the currently dysfunctional Title Deeds issuance and transfer system" in its post-programme surveillance report on Cyprus.
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Property tax incentive extended

Designed to stimulate growth in the island's beleaguered property market, tax incentives introduced in December 2011 for those purchasing new homes may now be extended until the end of 2013.
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Banks and government destroying property market

The banks and the government have joined the band of 'crooks' masquerading as property developers and estate agents who seem intent on destroying the Island's once thriving property market and its reputation.
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Tax incentives expanded and extended

The government has expanded the 5 percent VAT payable on new homes used as primary residences to include non-EU citizens and has extended the Property Transfer Fee reduction/suspension until the end of the year.
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Property industry problems to be discussed on Monday

Problems plaguing the Island's property industry will be discussed by the Cyprus Land and Building Developers Association's Annual General Meeting, which is being held at the Nicosia Hilton hotel on Monday.
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Transfer of development rights to be aided by new bill

Proposals designed to assist those whose properties are located in environmentally protected areas or that have been affected by public works involve transferring their development rights to another property.
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Future prospects for the real estate market with Rotary

In conjunction with English and Greek speaking Cyprus Rotary Clubs, two presentations 'A review of the Cyprus property market: Changes in demand & Future prospects' will be given by Pavlos Loizou.
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Title deeds are key to restoring market confidence

When asked our readers their opinion on the most important factor in getting the Cyprus property market back on its feet, more than half replied that Title Deeds should be readily available on delivery of a property.
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VAT and other tax reductions on the table

VAT reductions for first-time home buyers and a suspension of transfer fees are being discussed as part of the Cyprus government's austerity measures to bolster the Island's failing economy.
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Austerity measures will add to property industry woes

The austerity package aimed at bolstering the failing economy unveiled by the government last Wednesday will only add to the chronic problems facing the Island's property industry.
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Developers association calls for tax review

The Cyprus Land & Building Developers Association has proposed as series of measures, including a tax review, that it believes will help stimulate the Island's beleaguered property industry.
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‘The end is nigh’ property firm spreads bank fears

Like thousands of others, I received an email from BuySell's sales director advising me that that keeping cash in the bank is too risky and offering to find me a property bargain.
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Government needs to take urgent action

The Cyprus government has been urged to take “decisive steps to eliminate delays related to the issuing of title deeds,” to focus hard on reviving the island’s overseas property sector, and to avoid increasing local property taxes.
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Call to reform the property tax system

George Strovolides, president of the Cyprus Property Owners' Association , urged the government to reform the property tax system tax during the association’s annual general meeting.
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Banks face more serious risks says CPAG

According to CPAG the banks in Cyprus are facing more serious risks than those reported last week by the rating agency Moody’s.
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Title Deed solution soon?

Yesterday, the Cyprus parliament began discussions on the bills that aim to put an end to the difficulties faced by Cypriot and foreign property buyers in acquiring their Title Deeds.
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Cyprus property market shows weak signs of growth

The Cyprus property market is depressed and shows weak signs of growth according to the latest RICS (Royal Institution of Chartered Surveyors) European Housing Review.
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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.
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Property sales to non-Cypriots improve slightly

Compared to previous months, the number of non-Cypriots buying property in November improved slightly. But as December is normally the quietest month for property sales, it seems unlikely that the total number of properties sold to foreigners will exceed 1,900 this year.
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Fall in tax revenue attributed to Cyprus property market collapse

The drop in Cyprus tax revenue collections is entirely attributable to the collapse of the property market and it raises concerns that if foreign demand fails to recover, the government will lose a significant source of revenue permanently.
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