Property buyers plan flood of complaints

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.

ACCORDING to Denis O’Hare from the Cyprus Property Action Group (CPAG), buyers plan to demand en masse that their title deeds be immediately issued or they receive their money back with interest.

The claims will be filed in accordance with the EU Unfair Commercial Practices law, which is now effective in Cyprus. However knowledge of this law does not appear to be widespread. Two weeks ago the head of the Cyprus Consumers Association, Petros Markou, told the Cyprus Mail that he had never even heard of it.

The new joint action by property buyers is being organised by CPAG as just one part of a co-ordinated exercise involving UK MEPs at the EU, in order to force the government to act on the issue of withheld title deeds, a practice which is damaging to the island’s property market and image. 

Source: Cyprus Property News