Similar Problems With ROC Property System

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
09/11/2008 11:54

Property group receives three complaints a day from disgruntled home owners

By Jean Christou



A WHOPPING 2,000 foreign home buyers, or on average three a day, have contacted the Cyprus Property Action Group (CPAG) for help since its inception only in April last year.



The figure appears in a report commissioned by the previous government, which was aimed at a joint effort to resolve many of the problems experienced by foreign buyers on the island.



“Over 2,000 buyers have contacted CPAG so far, even without [us] advertising, and this number grows daily,” said the CPAG report.



CPAG had hoped to work hand in hand with the government on the basis of the report, which was handed over in January this year. However CPAG says the new administration appears to have shelved the comprehensive report prompting the group to go public on its content.



“They (the new government) have not refuted anything in the report since then, nor have they had the courtesy to formally respond,” said

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
09/11/2008 11:55

Denis O’Hare.



“Our findings suggest that the whole property industry, including property law and the planning system, has been grossly slanted in favour of developers, their bankers and the legal fraternity, to the great disadvantage of the buyers and also to the nation’s own tax revenues,” said the report.

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“It should be noted that the Cypriot buyers also suffer many of these problems, especially the denial of their property rights through grossly delayed legal ownership, whilst developers raise mortgages on, and take risks with, ‘their’ homes.”



It said that since its inception, CPAG itself had been the target of much anger from home owners who were facing problems because of its stated aim to work with the government to solve the problems.



“However, if Government chooses not to engage us in constructive dialogue, we shall be forced to go elsewhere to seek redress,” said O’Hare.



He said CPAG had, on very good authority, heard that the Finance Ministry under the previous

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
09/11/2008 11:56

Michalis Sarris was investigating the issues rasied in the report.



After the elections the 68-page report was also sent directly to the current Minister of the Interior, the Minister of Justice and Minister of Finance. More than six months later CPAG has not had any feedback other than a cursory meeting.



“Nothing substantial was discussed or suggested apart from ‘sticking plaster’ proposals. We anticipate more of the same,” said CPAG.



“Most fair-minded people would agree that our findings show a shocking picture of this disorganised, dishonest and corrupt industry sector, something that most governments would never have allowed to happen in the first place especially when the economy is so reliant on this industry sector,” the report said.



“Unfortunately the Government of Cyprus currently appears to be unwilling or indeed unable to do anything about this scandalous state of affairs.”



CPAG said it was “very disappointed” that the government had chosen not to respond subst

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
09/11/2008 11:57

substantially and were moving on to enlist the help of external bodies to apply pressure on Cyprus.



Currently, CPAG are communicating with the EU at various levels as part of their new strategy.



“The blame for the shambles which surrounds the Cyprus property market must belong 100 per cent to this and previous Cyprus governments for failing to regulate the industry properly and for allowing this unethical lending to developers which would be an anathema in any other modern EU state,” the CPAG report said.







Copyright © Cyprus Mail 2008





Maybe North and South have more in common than you thought.



Aussie

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
09/11/2008 12:15

Please see http://trncvillaowners.phpbb3now.com/viewtopic.php?f=4&t=4937

ismet

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/11/2008 12:35

Aussie,



Good report. I suppose its of little comfort to us, other than to know we are not alone. Perhaps the EU can sweep this all up as part of a comprehensive solution to The Cyprus Problem!



wyn

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
09/11/2008 16:31

Ismet



Hadn't looked on the Villa owners site for a while.



Looks like we had the same take on the matter.





I think large parts of Europe seem to have big problems with their property systems.



Surely if the EU is to be effective some standardisation and streamlining in this area is called for to protect all parties involved in property transactions which have such major importance to their economies as a whole.





Aussie

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
09/11/2008 18:52

spain is also a minefield.