Beware Builders in the South

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
07/07/2009 10:03

Problems now being discussed in the House of Lords

http://www.cyprus-mail.com/news/main.php?id=46618

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
07/07/2009 10:35

Good to see these links from "south" Cyprus papers being posted by a member indulging in property development in Cyprus and encouraging others..





Naturally, you would have noticed the advisory on buying property in Cyprus - which highlight THIS problem in the "rump" RoC AND the issue re buying on land STILL owned by GCs ?....



Will you be reminding members of this, too ?!

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
07/07/2009 10:41

Incidently



re msg 1



I thought - in the interest of fairness - that we should be reminded of ALL the Cyprus property issues..



I'm sure you'd agree that members might be interested in supporting any UK Citizens duped in Cyprus.... Many who can't even live in a property they paid for..let alone got "deeds".



There'll be a protest outside the "TRNC" mission in London and supporting folk who have seen no progress ( what a "surprise.." in the AGA scandal



http://www.cyprus44.com/forums/18531.asp

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
07/07/2009 10:50

Dear MMMM....thought you had already, clearly, warned of the dangers...just balancing the scales ..or do you think the problems of the south should not be highlighted?



My reason for highlighting this article was to warn others, of DEVELOPERS, not to stir tensions.



ps...would love you to put more effort into your thoughts / research...I do not do any developing anywhere on the Island, I do not encourage, when asked, I give MY opinion.

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
07/07/2009 11:37

Dear Stewart



please substitute property *speculation* for development in my msg 2



Now, having pointed out my mistake - try answering the points - not discussing "balance" .. ;)



YES- the problems in the "rump" RoC should be highlighted - the Foreign and Commonwealth Office website does this



Why are YOU ignoring one part of their advice, yet highlighting another ?!!!

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
07/07/2009 12:04

Just pointing out..that it is risky business buying anywhere in CYPRUS...I am open and honest...I give the facts..it is up to the customer, wether they wish to proceed...as it is up to me, wether to proceed and buy on "disputed" Land.



Please note ...I use the term "DISPUTED LAND" to stay balanced, I see the situation from both sides...the problem I have....is....untill the GC sort out the issue of "disputed land" in the south, inc great parts of both larnaca and Pathos airports, being given back to the TCs...or at least compensate them for it...why should the North compensate the South...it should be a two way thing...I am sure you agree?



I know about the ORAMS court case, and that is where we are at the moment, with no final judgement..if it was straight forward, then why has a judgement not been forthcoming before now?



I live in hope, that a compromise to the situation on the island, can be found, as with all compromises..there has to be give and take....peace be wit

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
07/07/2009 12:36

The last line of the article "100,000 deeds still outstanding "

What's the population of the roc? what's the percentage of houses without deeds being issued assuming 2 people to a property

Something is defiantly wrong.

Missing deeds on this scale show that :-

1.The system at the land registry is out of control

2.There are a lot of bank mortgages not settled by developers with the banks–This suggests a massive hidden property bubble that the roc are aware of and are concealing and hoping that they can trade out of it at the upturn

3.The North theory that there’s a lot of TC land involved



I go for option 2 the developers along with the local bank have operated in unison using the land registry as the excuse.

Borrow over 6 to 10 years on a development

Sell the plots and deliver the deeds when the loan is repaid in 6 to 10 years

This gives the developer double money for the site and funds the next two sites unfortunately all pyramid deals implode

Am I wrong?

Why is

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
07/07/2009 12:38

cont

I go for option 2 the developers along with the local bank have operated in unison using the land registry as the excuse.

Borrow over 6 to 10 years on a development

Sell the plots and deliver the deeds when the loan is repaid in 6 to 10 years

This gives the developer double money for the site and funds the next two sites unfortunately all pyramid deals implode

Am I wrong?

Why is the new law in the roc not covering existing transactions?

The fear that the economy will totally implode roc must be grateful for other issues keeping this out of the spotlight till now

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
07/07/2009 13:27

Dear Stewart



re msg 7



Nice "speech" ;)



but as yet no actual specific response..



Would you agree that it is a criminal offence under RoC law to sell - for private gain - land owned by a TC?



Would you agree that you champion property speculation in "TRNC" - despite knowing that -in the eyes of international "law" - that "TRNC" has no right to allocate property ?



The Orams' case is a "side show".. you already know the score.. I simply find it interesting you wish to re-highlight the BIG issue with buying off plan properties in the "south"... and choose to tell everyone how successful you are are doing just the same in the "north"... ! Despite the warnings..





I'm not envious.. I had the opportunity to buy in "TRNC" in 2002 - when even pre 74 was rock bottom - I just felt the resale market was fought with minefields and morality issues..noughts changed !



To speak of "peace" knowing folk lost their lives defending their properties does seem ( to me ) a might tac

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
07/07/2009 15:07

dear MMMM



You digress...the thread was about land issues of Cyprus, being brought up in the House of commons..you try to turn it into a slanging match...why are you bringing the Orams into this thread...why can't we spend more time trying for peace....perhaps we could meet up this august?