Tag: legislation

The passage of two of the five bills designed to resolve the Title Deed nightmare have been delayed by a number of questions raised during recent discussions.

Parliament is currently in the process of preparing a law in cooperation with the government and banks that will put an end to the current Title Deeds system that has left hundreds of home buyers at the mercy of debt-riddled developers.

The Cyprus government has been urged to take “decisive steps to eliminate delays related to the issuing of title deeds,” to focus hard on reviving the island’s overseas property sector, and to avoid increasing local property taxes.

The Republic of Cyprus is heading towards an agreement with the British Sovereign Bases over town-planning development of areas under their sovereignty.

With the proposed urban planning amnesty shortly to be debated in parliament, the Cyprus Association of Valuers and Property Consultants has put forward three suggestions for the government’s consideration.

The Title Deed legislation under discussion by the Cyprus government cannot work because it fails to address several critical factors; it is nothing more than a planning amnesty designed to protect property developers who have broken the law.

The Cyprus Scientific and Technical Chamber (ETEK) has called on the government to demolish illegally constructed buildings, according to a recent report in the Greek language newspaper Politis.

The much-anticipated bills to resolve the Title Deed issues have hit a snag, after it emerged yesterday that not all concerned had been properly consulted during the preparation of the legislation.

The Cyprus Interior Minister, Neoclis Sylikiotis, expects the new legislation designed to clear the Title Deed backlog to be tabled before parliament later this month.

The Cyprus Interior Minister’s insistence that property investment in Cyprus is safe is of little comfort to a number of property buyers in Paphos whose developer has gone into liquidation and who face losing their homes.