Cyprus-Forum.com

[GreekIslandGirl]

The issuing of orders by the troika to get the title deeds sorted and given out to owners is not altruism!

The Troika have their eye on Cyprus' property market now too. Just as foreign bank investment brought down their wrath, to share in the "goods", so too this foreign investment has highlighted Cyprus' property market as another sector to raid.

The government needs to regulate foreign transactions in property, before it's too late. They need to tackle this before the troika take over and do it for them.

[Paphitis]

The Troika's aim is to get Greece and Cyprus back on its feet so that they do not require further assistance in a few years time. Title Deeds are just one aspect. Everywhere I know, the Title Deed is transferred on settlement and the same should be occurring in Cyprus.

Ultimately, it is the Land Titles that must ensure that this happens in a timely fashion and the RoC must provide protection to all property buyers.

Foreigners are buying property in Cyprus, and Spain because the climate and lifestyle is appealing to them. It is not about the money because if it were there are a 100 places better where they can make more, much more.

The big land owning peasants that sell their land are the one's that make the money over this influx and then go and buy a Mercedes. O Golos o titsiros..,.

[repulsewarrior]

The Troika's aim is to get Greece and Cyprus back on its feet so that they do not require further assistance in a few years time. Title Deeds are just one aspect. Everywhere I know, the Title Deed is transferred on settlement and the same should be occurring in Cyprus.

Ultimately, it is the Land Titles that must ensure that this happens in a timely fashion and the RoC must provide protection to all property buyers.

Foreigners are buying property in Cyprus, and Spain because the climate and lifestyle is appealing to them. It is not about the money because if it were there are a 100 places better where they can make more, much more.

The big land owning peasants that sell their land are the one's that make the money over this influx and then go and buy a Mercedes. O Golos o titsiros..,.

...indeed, there is a Title, which is Transferred (for which there is a Tax), or that, as a Corporation; Shares are traded. Transfers of Title (or trades) by a date which i assume are done by a Notary or Lawyer should be simple. like in the Banking System, very complex in the possibilities that will be demanded from them, they are simple, based on their Transparency. i cannot see why Cyprus can't get this right, and it would be a big plus if it happens now, that new thinking is in order.

...all over Europe, i imagine, the Property Booms are fueled by "old" families selling off their interest to "foreigners" (in parts). there is this fear percolating that, in "Greek" Cyprus (never mind the north) the new comers will become a significant demographic, so much so that Greek is under threat. in the balance of things we all, as Individuals, want to live under a Rule of Law which is Universal. and any Pride associated to a State should be reflected by a Government which upholds these Principals. in any case, for Greeks, "Greeks", and non-Greeks, the system of ownership, at this moment only encourages the worst in these subsets, nor does it reflect any net gain for/by any one subset. it's only quality, it seems, when compared to ownership north of the Green Line, is that it is Legal.

[yialousa1971]

Eleven years and €33,000 on I still await my Title Deeds; I wrote to my lawyer a couple of weeks ago to ask if my plot had now been 'divisioned' - and no reply. The owner of the property next to me flew in last week and was able to inform me not only had it been - but gave me the reference number - but still I have yet to hear from the well paid Lawyers.

The problem lies with developers overextending themselves and failing to recognise - or react to - the downturn in the Market. The problem lies with Banks making unsafe loans to Developers - to obtain bonuses and profits - also failing to recognise the risk of the loan and the downturn of the Market. The problem lies with Lawyers who fail to meet expected professionl standards. The problem lies with a crazy system - not even seen in Third World countires - where, when you purchase a property you do not get the Title Deeds immediately. The problem lies with a Land Registry staff, many of whom not to apply energy or appropriateness to serving their 'clients' ie the members of the public.

Don't worry once we are married everything will be sorted out.

[Get Real!]

Eleven years and €33,000 on I still await my Title Deeds; I wrote to my lawyer a couple of weeks ago to ask if my plot had now been 'divisioned' - and no reply. The owner of the property next to me flew in last week and was able to inform me not only had it been - but gave me the reference number - but still I have yet to hear from the well paid Lawyers.

The problem lies with developers overextending themselves and failing to recognise - or react to - the downturn in the Market. The problem lies with Banks making unsafe loans to Developers - to obtain bonuses and profits - also failing to recognise the risk of the loan and the downturn of the Market. The problem lies with Lawyers who fail to meet expected professionl standards. The problem lies with a crazy system - not even seen in Third World countires - where, when you purchase a property you do not get the Title Deeds immediately. The problem lies with a Land Registry staff, many of whom not to apply energy or appropriateness to serving their 'clients' ie the members of the public.

Don't worry once we are married everything will be sorted out.

Just keep in mind that gay marriages are not legal yet here.

[kurupetos]

Eleven years and €33,000 on I still await my Title Deeds; I wrote to my lawyer a couple of weeks ago to ask if my plot had now been 'divisioned' - and no reply. The owner of the property next to me flew in last week and was able to inform me not only had it been - but gave me the reference number - but still I have yet to hear from the well paid Lawyers.

The problem lies with developers overextending themselves and failing to recognise - or react to - the downturn in the Market. The problem lies with Banks making unsafe loans to Developers - to obtain bonuses and profits - also failing to recognise the risk of the loan and the downturn of the Market. The problem lies with Lawyers who fail to meet expected professionl standards. The problem lies with a crazy system - not even seen in Third World countires - where, when you purchase a property you do not get the Title Deeds immediately. The problem lies with a Land Registry staff, many of whom not to apply energy or appropriateness to serving their 'clients' ie the members of the public.

Don't worry once we are married everything will be sorted out.

Just keep in mind that gay marriages are not legal yet here.

You can marry DT in San Francisco, CA.

[GreekIslandGirl]

Update:

Property Valuers Association Chairman Charalambos Petrides revealed that some foreigners have contacted him as they are interested in investing in Cyprus, because they consider that real estate prices are very low.

He expressed the view that within the next two years, some people will buy real estate properties that are involved in non-performing loans.

FamGaz

We're going to see more and more foreigners snapping up properties in Cyprus, at this vulnerable time, unless the government acts to minimise this. It can only spell long-term disaster for Cyprus.

[Paphitis]

Ah yes but we are in the EU and I don't believe legislation restricting the purchase of property by other nationals will fall in line with the EU Acquis!

Isn't this what is required for a property market recovery or eventual property boom?

If you are worried now, in about 3-5 years Cyprus will be inundated with American, Canadian, and Australian Oil workers and these guys have cash which means they will probably end up buying property as well. Good thing is, they will be spending a lot of their money in Cyprus as well.

I am talking about 20,000 to 40,000 Oil workers flying in and flying out monthly from all over the world.

I would love to see an Australian takeover of Polis!

Bedtime so later....

[GreekIslandGirl]

Summary：Thanks to the promise of European Union residency, many Chinese are buying homes worth at least 300,000 euro in the tiny island nation of Cyprus

.

http://www.eeo.com.cn/ens/2013/0502/243361.shtml

[Oceanside50]

Update:

Property Valuers Association Chairman Charalambos Petrides revealed that some foreigners have contacted him as they are interested in investing in Cyprus, because they consider that real estate prices are very low.

He expressed the view that within the next two years, some people will buy real estate properties that are involved in non-performing loans.

FamGaz

We're going to see more and more foreigners snapping up properties in Cyprus, at this vulnerable time, unless the government acts to minimise this. It can only spell long-term disaster for Cyprus.

Forget using the government in who should buy or not, they've proven time and time again that they are bumbling idiots, so what if chinks want to buy leftover houses they'll just rent them out to Cypriots at cheap prices