Archives: 2007 April

What do I need to cover contractually when buying a property/home in Cyprus?

The universal advice is to get everything in writing and the most appropriate place is in your Contract.

Should delays due to labour strikes and bad weather be allowed in your off plan purchase/building contract?

The answer is No !!

The developer is able to control or avoid strike action.  Any delays due to seasonal inclement weather are also not allowable for delay purposes. The developer knows about the seasonal weather conditions and must take this into account in the project plan. Exceptionally bad weather conditions could be considered and the developer has to provide evidence that those conditions are exceptional.

And you should not bear any of the costs !!

Sadly, I have had a few enquiries asking if there is a Law Society in Cyprus?

There is not but if you have a complaint this is the man to contact.

Petros Clerides
Attorney General of the Republic
President of the Disciplinary Board
Law Office of the Republic
1403 Nicosia
Cyprus

Email Address:att.gen@law.gov.cy

For your complaint to be examined by the Disciplinary Board of Advocates
you have to pay the amount of C£40.- (55 English pounds)  to the Board in
accordance with subsection (1) of section 32 of the Advocates Law, Cap. 2,

This Article published in the Cyprus Mail is an interesting read with lots of advertising!!

But the main question that the newspaper needed to ask was;

Did you have a legally binding completion date written into your Contract? And did you specify penalties?

These provisions are a MUST but you must be equally careful to define what Completion is so that a legal judgement can be reached as to whether the developer has clearly and simply failed to complete in order that penalties are due to you.

Periodic Dust Storms in Cyprus

Several times a year Cyprus homeowners and gardeners suffer some warm wind gales which come from Africa and pick up fine dust and sand from the Sahara.

Sometimes the gusts at the height of the storm large satellite dishes are moved off tune – costing a visit from your satellite installer.

Unfortunately these are somtimes quite destructive stripping all the leaves off trees and shrubs – but they do recover !!  But the deposit of fine dust and sand is a chore to clean away.  And you cannot hose it away now because of water use restrictions unless you want a fine of CYP50 !!

From The  Department of Environmental Protection, Montgomery County, Maryland USA but equally applicable to Cyprus

I will publish a Plant List for Cyprus so that you can decide how to take forward such a design in your new Cyprus Home.

Landscaping is a natural and beautiful way to keep your home cool in summer and reduce your energy bills. In addition to adding aesthetic value and environmental quality to your home, a well-placed tree, shrub, or vine can deliver effective shade, act as a windbreak, and reduce overall energy bills.

Cyprus Property Pressure Group

April 12, 2007 saw the formation of a Cyprus Property Pressure Group in Peyia in the Paphos Region of Cyprus.

The basic aims of this pressure group are:

• To represent the current views and difficulties of foreign purchasers in Cyprus and to actively seek Government support in this regard.

• To work with the Government and various industry bodies and professions to improve the current planning, construction and ownership laws, practices and enforcement in order to ensure a more protective environment for purchasers.

To read more click here.

Cyprus property market heading for crash

http://www.londongreeknews.co.uk/index.php?show=story_template&nwsflag=news&iden=st1_26042007.xml

Following the patterns recently reported in the Spanish property market that the housing market is on the brink of collapse, Cyprus the destination for many holiday home buyers from the UK is recording negative drops in value.

Much of the problem lies in the fact that the property developers in Cyprus have over developed certain parts of the island without due consideration to the demand and the costs in the region.

With the property market in Cyprus having seen significant gains in value over the last five years, one needs to consider what this has meant to Young Cypriot Couples. It has pushed almost all new larger accomodation out of reach and the “affordable housing”, as we would say in the UK, is now in the apartment sector.

But as Antonis Louziou has pointed out in his article entitled Apartments for Young Couples the size provided by new apartments have diminished significantly. He provides all the facts and figures and says that the Town Planning Policy has changed to create minimum sizes.

Article By Antonis Loizou, FRICS – Chartered Surveyor

This is a very useful article for Cyprus home buyers because it sets out with examples and photographs what are structural defects and “routine” defects. He says, quite rightly, that structural defects are liabilities without time limit of the developer.

But I believe that you would have to prove negligence and most probably in a court with an expert witness (if you can get one to testify).

And what if the developer company is no longer in business?

There is no NHBC Guarantee as there is in the UK.