October 27, 2007
Budget Airline Boost For Cyprus
Cyprus has always been a safe bet for British buyers, especially buy to let investors, wanting to buy a property here in this country. With a fairly steady influx of tourists and foreign visitors keeping the property market afloat over the years, it is quite safe to assume that buying property in Cyprus is a good investment.
And now, this country is set to be reward with down spiraling airline prices between budget airlines. There are several airlines which have a cheap flight to the country, and Monarch Airlines has also joined in the fray, offering flights one way between Luton and Larna for as low as 69.99. According to Tim Jeans, managing director of Monarch’s scheduled services, they are quite ecstatic about offering such a service. He said that with this new service, tourists and foreign visitors alike are expected to welcome this new service, since property in Cyprus is ever-increasing and growing for the past years.
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Posted on: Cyprus
October 23, 2007
BRITISH COUPLE WIN NORTHERN CYPRUS CASE
A British couple won the latest and final round of a court case foreseen to have dramatic consequences for the property market in northern Cyprus. David and Linda Orams of Sussex won their battle in the High Court against Meletis Apostolides, a Greek Cypriot who claims ownership of the land in the self-declared Turkish Republic of Northern Cyprus (TRNC), which his family used to own before the Turkish invasion of 1974.
Apostolides had obtained a judgement in a Nicosian court (the Greek Cypriot capital) that ordered the Orams to compensate Apostolides, to demolish their home (which cost them £160,000 including land and construction) and to hand over their land to him. When the Orams refused to abide by this judgement, Apostolides sued them in the English courts. It was a defeat for the couple (who were represented in this stage of the case by Cherie Booth QC, the wife of the prime minister) who were forced to to sell their home in Sussex to pay for Apostolides’ costs and compensation.
Posted on: Cyprus
October 19, 2007
Cyprus property prices match Spain
Investors who are planning to invest in Cyprus property are now changing their sights to Spain after a shock survey in the island’s premier and business newspaper of the local real estate market.
The increased prices for the last year are driving investors away with a sudden durge of prices dropping, with places such as Pathos already eyed to be those in Spain, according to the Financial Mirror, a credible newspaper in Cyprus which deals with economic, industrial, financial and investment news in Cyprus.
During the first half of the year, a financial drop of 29 percent year on year to CYP 492 mln compared to CYC 626 mln a year ago in the same period, according to the Land Registry figures.
Posted on: Cyprus
October 6, 2007
Cyprus: Limassol to Agia Napa uncovered
From the racy party district of Agia Napa to the peace and tranquillity of Zyyi, this area of Cyrpus has it all.
“Yiasou!” locals will bellow heartily. It means ‘welcome’ in Cypriot and no matter how long one has lived or visited Cyprus it’s hard not to feel the genuine warmth of the people there. Residents of the roughly 100 kilometre stretch of coast from Limassol to Agia Napa are no exception. However, one will come to realise the friendly atmosphere is the only thing that remains the same as one travels up the south-east coast. The contrast between the lively, 24-hour party district of Agia Napa and tranquil Zyyi is just one example one is likely to find on the part of the island. Perhaps the staggering differences encountered are reasons this coastal region is so popular with tourists and the thousands of foreign property owners who make it their home.
Posted on: Cyprus
October 2, 2007
Who’s Actually Investing in Property in Cyprus?
At the start of 2001, there had been talks of many new developments to areas in Cyprus, such as the marina being built in the Coral Bay Area in Cyprus close to Paphos. Also, at the start of 2003, there had been many talks of important business hubs/ centers/ hospitals / universities being built in Paphos, ever since budget airlines becomes known in the media areas of streams as budget airlines, and there were also discussions that these airlines would be available cheaper routes to Lanarca – and all of these plans are the shown head first to people who say that the country has been losing its ground and appeal in favor of other tourist hot spots such as Spain or France or even growing property marketers such as Croatia or Turkey, for example.
But the question is: when do these plans really materialize, or in some tangible sense, actually begin construction? Could it be true and feasible that these plans are nothing more than just plans, backed up by people who had nothing to do? Afterall, who is actually investing in property in the country?
Posted on: Cyprus
September 21, 2007
Cyprus and Turkey in Emergency Summit
In an effort to reach a compromise between Cyprus and Turkey, an emergency meeting was arranged in Helsinki. The emergency meeting was triggered by the possible accession of Turkey to the European Union (EU). The Cypriot government is against Turkey’s plans. As the accession nears, the Cypriot government has been vocally objecting Turkey’s plan to join the European Union. However, the Turkish government does not recognize the Greek-Cypriot government. In fact, the Turkish government does not allow Greek-Cypriot shipping access to their ports as a direct breach of EU protocol. In return, Cyprus continues to object Turkey’s plan to join the EU. Meantime, Turkey insists that the EU end its embargo on the northern part of Cyprus which Turkey currently occupies.
Posted on: Cyprus
September 19, 2007
Cyprus for Property Investors
2005 was the year for Cyprus as it was named one of the hottest hot spots to go to in property investments around the world. This is because the country not only offers a visual feast with its third largest island in the Mediterranean Sea for both visitors and property investors like, Cyprus also is blessed with the perfect climate that happens all year round – fine weather ranging from temperate to cool but sunny in the winter to hot and steaming in the summer.
Posted on: Cyprus
September 7, 2007
Cyprus property market booming
There has been an influx of interest and attraction from the British buyers to every property in Cyprus, which made the country booming with interest and pride and has made it one of the possible destinations for tourist, relaxation and pleasure. This was revealed just recently by one expert.
According to the managing director of the real estate Buy Abroad John Reilly, the country (Cyprus) is probably the most popular country in the world, as proven by the upsurge of British buyers looking for properties here in this country.
One of the reasons why the country is so popular these days, according to John Reilly, is that the country would be entering the eurozone next year and that English would now be widely-spoken in the entire country. Apart from that, there will also be a Land Registry system for properties, which is in fact, similar to the system being used in the United Kingdom. Furthermore, the country also has a “tax-efficient” environment, with the corporation tax being much lower than that in the UK and that there are no signs of inheritance tax.
Posted on: Cyprus
August 31, 2007
New flights to bring Cyprus property bonus
Following Monarch’s move into Cyprus this week, the first major low-fare airline to introduce flights between the island and the UK, Cypriot property prices look set to become even stronger.
The Cypriot property market grew rapidly in 2006 with house prices rising at 20% per annum and rental returns showing a level of 8% to 12% on the current price of property.
Dani Maxton, managing director of Morpheus Investments, which specialises in developing property in Cyprus for UK investors says, “The introduction of low fare flights is great news for current Cypriot property owners and investors alike. With improved flights from the UK, Cyprus looks set to become an even more popular tourist destination in 2007 and will open up the island to more prospective second-home buyers.Cyprus is clearly reaping the rewards of a strong and stable economy. It is set to prosper further when it begins to use the euro in two years time.”
Posted on: Cyprus
May 11, 2007
Cyprus major tourist hotspot
According to a leading real estate company, the east of Cyprus could now be developed into one of the leading hot spot for property investors and a property destination in the whole world.
According to the managing director of Buy Abroad, John Reilly, he firmly believes that fly to let in that region is indeed a major area of growth, especially with the latest expansion of the airport in this region – which would mean an increase in the opportunities for tourists, locals and foreigners to take short and low-cost breaks.
Posted on: Cyprus
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