Cyprus Government Speeding Up Title Deed Problem
Pantelis Leptos, chairman of CLBDA (Cyprus Land and Building Developers Association) states that while interest in real estate on the island is exceptional, the government is set to discuss ways to speed up the problem of title deeds.
Leptos went on to say that the situation within the real estate market was better than that of 3 years ago, however there is still room to boost the quality of the services and products offered by developers in Cyprus.
In addition, significant delays in issuing title deeds has destroyed the reputation of Cypriot developers abroad. The delays usually arise from townplanning violations by developers or outstanding in their financial responsibilities.
The market relies on selling properties to foreigners to support economic growth and prevent property prices from falling further.
The Golden Visa scheme which permits investors to acquire either a Cypriot passport or a permanent residency.