In its latest update, the Cyprus Property Action Group (CPAG) says that as a result of the persistent lobbying of the European Union and MEPs that changes will come about to resolve the problems in the island's property industry.
Troika's proposal to accelerate loan recovery by the banks could spell disaster for many home buyers; they could lose their homes within 18 months even though they may have paid for them in full.
The Cyprus Property Action Group has released a comprehensive update of the progress it is making with the European Union in its efforts to resolve the problems associated with buying property on the island.
Cyprus has until early January to reply to a memo from the EU following a petition by the Cyprus Property Action Group and 41 MEPs calling for confirmation that withholding Title Deeds breaches EU fair practice laws.
An estimated 50,000 Cypriot property owners moved closer to getting their Title Deeds this week, after MEPs, British leaders and the European Commission rallied to pressure Cypriot authorities to enforce EU law.
Cyprus property action group spokesman Denis O'Hare was interviewed on Cyprus radio channel CyBC 2 by Rosie Charalambous about the Island's unfair commercial practices law.
Thousands of disgruntled property buyers without title deeds plan to flood the Commerce Ministry's Consumer Protection Service (CPS) with complaints under the Unfair Commercial Practices law.
Earlier today, the Cyprus Property Action group launched a new website containing information, advice, and guidance for existing and would-be purchasers of property on the Island.
The Cyprus Property Action Group (CPAG) believes that the holding back of Title Deeds contravenes the European Union Directive on unfair commercial practices.
Leptos Estates, the Cyprus property development company, has backed down and withdrawn its libel action against property rights campaigner Denis O’Hare of the Cyprus Property Action Group.
Denis O'Hare, the Cyprus property rights campaigner, has appeared in a court in Paphos and is contesting the a writ moved against him by Armonia Estates Ltd and Pantelis Leptos, vice-chairman of Leptos Group and Marketing Director of Leptos Estates.
Cyprus property rights campaigner Denis O’Hare has been summonsed to appear in the Paphos District Court following a writ moved against him by Armonia Estates Ltd, part of the Leptos Group, which earlier precipitated the closure of the Cyprus Property Action Group website.
Earlier today members of the Leptos Buyers' Action Group and their supporters staged a peaceful protest by marching along the Paphos seafront to the port demanding their Title Deeds.
CPAG is organising a series of demonstrations in efforts to force the banks in Cyprus to disclose details of mortgages taken out by property developers to those homebuyers who have been duped into buying mortgaged property.
Just how much damage to the economy, the image of Cyprus and people’s lives will have been caused before the Government shoulders its responsibilities and resolves the Title Deeds issue once and for all?
The UK Government has said that it will not close down the UK offices of Cypriot companies selling property unless it receives evidence of illegal behaviour.
Whether or not you agree with Lord Jones’ calls for the UK Government to take positive steps to protect British citizens buying property in Cyprus and put pressure on the Cyprus government to clear up the mess, he certainly seems to have ruffled a few feathers!
