THE Department of Lands and Surveys has recently published its second quarterly progress reviews of the issuance of building and planning permits, certificates, and title deeds, as well as title deed transfers and related mortgage operations as agreed with the Troika.
The statistics, which are in Greek and English, are available below the commentary below.
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Statistics
Certificates of Registration (Title Deeds) issued for development projects ? 2013
General statistics for development projects (permit applications, title transfers, etc)
Unfortunately the statistics still do not show what progress is being made towards reducing the estimated 120,000 – 130,000 backlog of Title Deeds waiting to be issued.
@ Elizabeth
copy and paste into – http://translate.google.com
@Adrian
It’s actually worse than that. If the developer has outstanding loans and taxes that are not related to your property and the developer holds even just the title deed to the land because the deeds for the properties on it have not been issued, his assets can be sequestered in favour of creditors and you can be invited to pay a share of the debts to keep your home or be kicked out.
The Land Registry may as well issue the deeds on toilet paper because if the developer has outstanding loans and taxes on your property that you have paid for you will not get them. The banks and the government have no need to use good working practices or due diligence because the Cyprus courts use a system compatible to the banks!! The only thing that has any leverage is money so unless they deliver the goods they do not get a bailout from the EU. SIMPLE
@Elizabeth – a Google translation reveals little change from the last report – plenty of hyperbole.
But we still don’t know what (if any) progress is being made to clear the backlog:
Backlog – issued = revised backlog for next report
A child of 10 could manage that without too much difficulty.
@Nigel
Firstly, last time they gave an update the commentary was in English as well as Greek, what are they trying to hide now?
Secondly, it would appear that the EU Commission accept that Cyprus is currently not adhering to the bailout MOU reporting requirements, wonder why?
Please see the Commission’s (incomplete!) response to MEP Daniel Hannan’s question on the matter : Cyprus Memorandum of Understanding.