Opposition parties trying to introduce legislation designed to slow down the property auction process by introducing twelve points, but have yet to get the required majority for it to pass.
A bill aimed at improving the 2015 trapped buyers law, which was successfully contested by the banks as being unconstitutional in the lower courts is being discussed by the House Legal Affairs Committee.
A debate on an amended trapped buyers bill designed to overcome the shortfalls in the existing law is set to begin on Wednesday 12 June with the expectation that legislation will be enacted before the summer recess.
Many millions of Euros worth of Cyprus property in all the districts comprising houses, apartments, commercial properties and plots of land and fields land are set to go under the hammer in June.
Allegations over one-sided property valuations in which the banks are undervaluing properties used in loan restructuring cases have been heard by members of the House Commerce Committee.
The Cyprus government has vowed to continue issuing Title Deeds to trapped buyers despite the recent court rulings that left them in legal limbo according to a report in the Cyprus Weekly.
