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Homeowners in Cyprus growing increasingly unhappy
Country: Cyprus; Southern Cyprus
12 November 2008
As many as 2,000 foreign home purchasers who are experiencing problems on the island have been in touch with the Cyprus Property Action Group (CPAG) for assistance since the body was set-up in April last year.
“Over 2,000 buyers have contacted CPAG so far, even without [us] advertising, and this number grows daily,” said the CPAG report.
The figures, which were submitted in January this year, appear in a report commissioned by the previous government. However, CPAG claim that the survey is being ignored by the new administration.
The report said: “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.”
The negative stories about the Cypriot property market are mounting.
Browse other Cyprus property news stories, read articles about investing and buying property in Cyprus or view our range of property in Cyprus.
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