Cyprus Property groups unite for the buyer’s rights
The Cyprus Property Action Group (CPAG) and The Cyprus Land and Property Owners Association (KSIA- www.ksia.org.cy) have stick together to look at ways of protecting the rights of immovable property buyers in Cyprus.
KSIA, recognized as a Cypriot legal body in 1964, is affiliated to the Cyprus Chamber of Commerce and Industry (KEVE) and is a member of the International Union of Property Owners (UIPI - www.uipi.com). CPAG was only set up in May 2007 and has already dealt with several foreign buyers who are dissatisfied in their property purchase in Cyprus.
These two influential groups met in Peyia recently after their previous meetings in Nicosia. Since then, they are contacted by Cypriot buyers for support and guidance.
George Strovolides’ President of KSIA’ has said that they have a combined interest in resolving the common problems faced by buyers in Cyprus. He also commented that the biggest problem faced by property purchasers in Cyprus is the legal ownership through proper Title Deeds.
He further added that in Cyprus purchasers paying in full and is not the owner of their homes, as developers raise mortgages using land on which these very homes stand and strict action needs to be taken to change this present situation around.
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