cyprus property market

During the last twenty years the property market in Cyprus, and especially Paphos, has developed rapidly and thousands of expats have purchased properties, either for permanent residence or for holidays. Many of the buyers have been trapped in a system where not only was there no clear law as to the responsibilities of the professionals in the legal profession, but they were further more trapped in the...

The Lands and Surveys Department figures were issued on March 2nd, 2010 for February 2010 showing that 704 contracts of sale were deposited at Land Registries throughout Cyprus. This was an increase of nearly 30%  compared to February 2009.  In the first two months of this year, 1274 contracts were deposited and their overall numbers are up 27% compared to last year. This is a positive sign...

This has been one of the most hectic summers of my life! Summer is supposed to be when life goes slower in Cyprus, especially in August. Last two years August has been a very laid-back time of year, even though there are many tourists and would-be residents who are looking at Paphos as a retirement or second-home destination. In August, people tend to concentrate on the more important things in life...

This financial crisis is sweeping across the globe and it is becoming clear that most continents will be affected in one way or another. It is fair to say that we are already experiencing a downturn in the economy here in Cyprus. The extent of what will happen will surely shake things up and just about everyone will feel it in their pockets, bank accounts, and retirement accounts. Certain areas and...

There is one clear message that I am getting from all my new and informed clients - it's a buyers market in Cyprus!  Many of my clients have recently experienced being the buyer in a sellers market thus paying premium prices for their property.  The people who want or need to sell these homes within a year or two of purchasing are the hardest hit. They have purchased at the height of the...