Nevertheless, the current situation in the Cyprus property market is far from ideal and it is compounded by the fact that there are more scandalous stories about fraud-related real estate transactions on the island. In particular, it is a scandal associated with the sale of real estate development company one residential facility to different buyers, as well as the machinations of District land commission appointed by the wrong amount of the fee for registration of transfer of immovable property ownership. In some cases, the overpayment was 10 000 euros.
Related article: In Heidelberg build energy-efficient districtAll this affects the reputation of the Cyprus property market and provokes cautious attitude on the part of foreign buyers. According to experts, similar disturbances in real estate are the main obstacle to stabilizing the market. Obvious need for stringent government measures to regulate and solve problems in the real estate sector and restore confidence among foreign investors.