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There's a report (in Greek) in InBusiness at Ακίνητα: Στο -45% το Ï„Ïίμηνο | News that talks about agents receiving 30% commission on sales to Chinese buyers. Rough translation: "In various property reports, Chinese buyers slandered Cyprus considered that those who bought...

The proposed rates are as follows: Properties with an assessed 1980 value up to €40,000 will be exempt. From €40,000 to €120,000 – the proposed rate is 0.3% From €120 000 to €170,000 – the proposed rate is 0.4% From €170,000 to €300,000 – the proposed rate is 0.9% From €300,000 to €500,000 –...

I agree 110 percent. Just to clarify - Title Deeds cost a few cents, but there is a government tax 'Property Transfer Fees' that are Cyprus' equivalent of the Stamp Duty Land Tax (SDLT) that are payable in the UK when the ownership of a property changes hands. Property Transfer Fees are...

Hi manshow Local sales reached their peak in 2004, while overseas sales peaked three years later in 2007. Sales in 2009 were more than 35% down on the number sold in 2000 - and have continued their downward trend since then. The Royal Institute of Chartered Surveyors (RICS) publishes a...

Hi jackson home The property market in Cyprus is in a pretty poor shape. The government has introduced tax incentives last year in efforts to stimulate the market for new properties, but these have had little success. If you are looking to buy a property, restrict your search to resales...

Here's my chart derived from issue 10 (the latest) RICS Cyprus Property Price Index: and you can see in the following two charts how prices of residential apartments and houses have fallen over the past couple of years: Regards, Nigel

You're welcome.

I believe the developer of St Nicolas Residence and St Nicolas Gardens is Alpha Panareti. There are two private Facebook groups 'Alpha Panareti Owners Group' and 'APISC - Investor Support & Collaboration'. If you join them you will see what's happening and the actions that people are taking...

The changes to the Immovable Property Tax bands will come into effect next year. Immovable Property Tax (IPT) is calculated on the Land Registry’s assessment of the market value of a property at 1st January 1980 and is paid annually the Inland Revenue Department. In addition, this 1980 market...

Basically it takes an unacceptable amount of time for Title Deeds to be issued for new properties in Cyprus; in some cases more than 20 years. There are many causes for the delays, among them: Property developers not clearing mortgage debts on the land on which they’ve built properties and...

Unfortunately you bought close to the market peak in 2007. Sales have fallen by 75% since then and prices by around 30%. I'm currently running a survey in my magazine. More than 80% believe that the number of sales will continue to fall this year. Things will only start recovering when...

Now is really not a good time to change your loan from CHF to another currency. The CHF is extremely strong at the moment and if you change currency you will crystallise your loss. Also if you took anything more than a 60% loan at the time of purchase it is unlikely that you will be able to...

The banks have raised some objections 'they are unconstitutional'.

Property sales continue fall in February ACCORDING to the Land Registry, the number of contracts of sale deposited at Land Registries throughout Cyprus during February was 602 compared with 704 in February 2010; a fall of 14%. Sales fell in most of the seaside towns and Nicosia: Famagusta...

Further Update............ Yesterday RICS published its '2011 European Housing Review'. This is what it had to say about Cyprus: The slowdown in the housing market observed from 2009 continued in 2010. The new RICS Cyprus index reported that apartment prices were 9% down in the first nine...

Your developer is required to fulfil his legal obligations as stated in your contract of sale - nothing more, nothing less. If your contract states that the developer is obliged to complete the landscaping and pool and he fails to do so, he is in breach of contract and you may sue him. If...

If the developer fails to fulfil his contractual obligations you can sue him for breach of contract. Regards

If you can't get a mortgage from the bank that originally made you the offer and get your money back, you have two options: a) Get a mortgage from another bank and continue with the purchase. b) Get out of the deal with your money returned. Which of these options you wish to pursue only...

You can read a report on today's protest, including photographs, by clicking here. There should be more reports in tomorrow's newspapers. Regards,

The demonstration will take place outside the International Business Unit and Regional Branch of the Bank of Cyprus in Paphos. The bank is located at 13 Evagora Palikaridi, which is in the centre of Paphos – at the first traffic lights on the Polis road up from the main Police Station.