Cyprus Property Law Dissatisfaction |
The
Despite attempts to legislate against fraudulent developers and to solve some of the countrys ongoing issues, many people are critical of the lawmakers. And, this week has seen one of
Mistakes in property market
The Cyprus Mail are less than impressed with the state of the countrys property market, arguing that lessons were not learned from the stock market fiasco of ten years ago. The newspaper reports that \"this same mistake has now been made in the property market, which also went through a \'bubble phase\', attracting all sorts of cowboys, posing as developers, who saw an opportunity to make a quick profit. Most of the buyers were foreigners and therefore easy prey as they were not aware of the
The commentary also points to recent stories which have damaged
Essential improvements in the pipeline
Despite some negative stories, there is clearly work being done to help foreign investors looking to buy in the beautiful country. As the Cyprus Mail reports, there has been one positive case in which owners sued a lawyer who had misled them and were paid damages in the region of EUR100,000.
In addition, the newspaper reports that British MEPs have raised ongoing issued with Cypriot title deed legislation in the European Parliament.
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Nick Marr
I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.