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23 December 2009
Hundreds of thousands of robins from the UK are being killed illegally in Cyprus after migrating south for the winter.
The birds are a delicacy on the island and are trapped and killed by locals to provide ambelopoulia, pickled or boiled songbirds, for restaurants.
The Royal Society for the Protection of Birds (RSPB) and its partner organisation BirdLife Cyprus, said one of the trapping hotspots was on the British Sovereign Base Area of Dhekalia.
The RSPB said it was ‘unacceptable’ that the illegal slaughter of the birds was taking place on an area controlled by the British authorities.
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The Cyprus Informer has published a series of editorials on the subject of the Cyprus Economy, the position of the Cyprus Banks and its exposure to the Cyprus Property Sector raising concerns that there is a hidden economic crisis looming in Cyprus with loan risks which match those dire circumstances which have affected the UK and other EU countries. The Cyprus authorities have painted a completely different picture as huge new loans are raised in the Euro Money Markets by the Cyprus Banks using the backing of the Cyprus Government. Claims that this was new money for new lending now seem to have been dashed by an article called “Banks in Cyprus ‘Cooking the Books’” which has been published by The Cyprus Property Action Group (CPAG).
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Editorial Comment by the Cyprus Informer
All property buyers in Cyprus are looking for is delivery of a good clean title to property which is registered in their name at the time of purchase and built soundly in accordance with all planning and building permissions.
The current property system in Cyprus does not provide that and has given rise to many examples of considerable injustice and loss.
Is there anybody who really wants to have a Title Deed issued with the caveat “Incomplete” or “Limited” ?
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Minister confident title deed changes will work – but are you?
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The Cyprus Bar Association says “It is therefore our recommendation with all respect, to oppose the 3 amending bills which will lead us into a labyrinth without solving the problem as has happened with Law 229(I)/2004 which had the same purpose but remained a dead letter.”
“If our suggestions are taken on board then very simply and soon the problem of many decades will be solved. Hundreds of millions of euros will be collected by the government. Thousands of buyers will be secured and will only be too happy to pay the transfer fees. Cyprus’ image will be restored internationally and we can claim justly to have the best system of securing ownership in the world.
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Cyprus Lawyers Oppose Law Reform Proposed by Cyprus Government on Cyprus Property
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The Cyprus Government has hired more people and is also equipping the Land Registry Department with better technology to allow 10,000 title deeds to be issued before 30th June 2010.
But the Informer Editor has heard from some hopeful Cyprus property owners of new problems which are stopping the release of Title Deeds by developers.
The Cyprus Revenue have to issue all tax clearances before a new name can be allocated to the Land Register and a new Title Certificate issued. But the problem is that some developers may have tax liabilities that they now do not have the resources to pay. So no transfer and issue is possible.
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The Cyprus Title Deeds Problem, Cyprus Mortgage Interest Rates and Cyprus Taxes
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As forecast by the IMF the Cyprus economy is faltering – Cyprus is officially in recession as other EU Countries, France & German announce that they are out of recession. The Cyprus Banking sector is slowing highlighting fears for the Property Development sector as house prices fall by 30%.
August 13, 2009 – www.financialmirror.com
Cyprus officially recorded a recession in April-June, as GDP contracted over the previous period for the second quarter in a row.
According to the latest “flash” estimate from the Statistical Service, real GDP (seasonally adjusted) contracted by 0.5% in the second quarter, having shrunk by 0.6% in the first quarter.
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EXTRACT – “It must also become clear that the ownership status of a buyer-owner of immovable property in Cyprus is definitely secured and cannot be challenged, as long as the buyer-owner has submitted the buying-contract to the Department of Lands and Surveys.”
EDITOR’S COMMENT – “Curiously though the Minister says this in his Statement he still sees it as necessary to change the Cyprus Law, because he has also announced that he is asking The House of Representatives to pass a new law .”
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Is this a Cyprus Government Guarantee of Cyprus Property Buyers Rights?
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The latest Cyprus Property Market News is that tough times are ahead, but as “This is Cyprus” bad news does not travel fast !
Rental yields in Cyprus are pitifully low, which means property prices are coming crashing down to earth.
StockWatch says that the drop in property demand pushed the number of unsold flats and houses sharply up and developers decided to make discounts that reach 30% for fear that worse days will follow. Big developers such Aristo determined a new phase in the market, where discounts are direct and not indirect.
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The Cyprus Informer has published two recent articles about certain aspects of the Cyprus Economy;
Cyprus Government will have to write off Cyprus Bank Debts
Cyprus Banks and Cyprus Property
Like most financial writers we are always looking for attributable facts and there is no better source than the IMF.
Do please read the articles linked to above and then read the following extracts from the IMF Report on Cyprus published on its own web site just a few days ago on 29 June 2009.
These are just extracts please do read the whole report from the above link.
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