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Cyprus given wake up call by European Parliament
The Cyprus government has been given a wake up call by a recent decision of the European Parliament’s campaigning Petitions Committee.

By: Nigel Howarth
Published: February 16th, 2009 • Filed under
THE Cypriot authorities have been given a wake up call by the European Parliament’s campaigning Petitions Committee. Last Wednesday the Committee approved a damning new report slamming planning loopholes in Spain which leave homeowners defenceless against developers seizing part or all of their property.

The European Commission has told MEPs previously that the EU has no “general powers” in regard to property: indeed, it said that its involvement in property laws is specifically excluded from the current EU treaties. However, in light of the recent signing of the EU Reform Treaty in Lisbon, the Commission has now expressed its hope that a more solid and clear legal basis exists for further work in this field to be undertaken.

The EU Reform Treaty embraces the Charter of Fundamental Rights and whose Article 17 requires “fair compensation being paid in good time for loss” of property. It is hoped that once the Treaty has been introduced it will ensure that those who have suffered a loss of property will be duly compensated under Article 17.

Spain was at the top of the European Parliament’s property agenda and this latest decision gives the Cyprus government fair warning of its future intentions.

Euro-MPs attack Spanish laws affecting expat homeowners
Members of the European Parliament on Wednesday launched a new offensive against notorious Spanish land laws that continue to wreck the holiday-home dreams of Britons in the Valencia region.

Thousands of properties in Spain have been demolished without compensation for their owners – many of whom are British expatriates. In some cases, the authorities have even charged the property owners for the installation of local services, even after they have lost their property.

About 15,000 foreign residents, mainly British, Belgian, German and French property owners, lodged a formal petition with MEPs three years ago to protest against a 1994 Valencia land and town planning law which triggered 20,000 compulsory purchases of land or property for “urban” development.

The original aim of the law was to ensure community development plans were not blocked by individual land-owners – a loophole meant unscrupulous developers could reclassify rural land as urban without the owners’ permission – effectively giving developers compulsory purchase rights on foreign-owned homes at a fraction of the market value.

The European Court of Justice has already ruled that the so-called “land-grab” law is illegal, but the European Commission says a replacement law – the Ley Urbanistica Valenciana – still breaches EU public procurement regulations and therefore failed to protect citizens’ rights.

Now the Petitions Committee – which has no direct power – has made a new call on the Madrid government to force revision of the regional law.

A replacement law – the Ley Urbanistica Valenciana – still breached EU public procurement regulations and therefore failed to protect citizens’ rights.

Sir Robert Atkins, a Tory MEP, said: “The scandalous behaviour of some developers, builders and local authorities resulting in people losing their homes has to stop now. The emotional and financial trauma suffered by so many legitimate home owners has to be rectified.

“The European Parliament has expressed a forceful condemnation of Spanish Land Law and its implementation and it is imperative that all political parties in Spain understand the anger of residents and act to change the law as soon as possible.”

His colleague Roger Helmer, also a Tory MEP, said: “The Petitions Committee has no power, but as it acts directly on citizens’ petitions for help, endorsement from the Committee adds hugely to the pressure on the European Commission to keep pursuing the issue“.

He said MEPs were now looking at ways of providing compensation for those who have already lost their homes or lost part of their land because of the law.

© Copyright of Telegraph Media Group Limited 2009

[GeorgeV97qaue]

Why post this when your side is selling GC land illegaly. You have got some front.

[zan]

High cost of land means no further room for price cuts
By Charles Charalambous
‘Cypriot landowners are not selling their land, whatever form the crisis takes’

ALTHOUGH property prices have dropped by 10 per cent in urban areas and by 30-40 per cent in coastal areas, the high cost of land means there is no further room for price-cuts, Cyprus Land & Building Developers Association (CLBDA) President Lakis Tofarides said yesterday.

Speaking at the 5th Land Development Conference in Nicosia, Tofarides said that prices are being kept high by the fact that family land tends to be passed on to multiple owners, with the result that “Cypriot landowners are not selling their land, whatever form the crisis takes”.

Tofarides warned prospective buyers that in a crisis period they should be careful not to fall into the trap of dealing with a developer who is in financial difficulties. “You should take care to ensure that the sales contract is registered with the Land Registry, you should search for existing mortgages, look out for possible problems”, he said, adding: “Price cannot be the only criterion”.

According to Land Registry figures quoted by one of the conference speakers, the number of registered property transactions fell 32 per cent from the 2007 market peak of 49,191 to 33,232 in 2008. The 2006 total was 40,166.

The number of transactions for the first eight months of 2009 was 11,788, representing a 52 per cent fall compared to the same period last year.

Sales to foreign buyers have fallen dramatically in 2009. Having grown 32 per cent from 9,633 in 2006 to 12,732 in 2007, they fell 32 per cent to 8,600 last year. If the figures for the first eight months of 2009 were annualised, the 2009 total would be 2,220, representing a 74 per cent fall compared to last year.

Group Editorial Director of OPP Magazine Alex Evans told the conference that the recession has changed the typical profile of UK buyers of property abroad, driving out the “amateur” speculators in favour of the serious property investor or holiday home buyer.

Nowadays, he said, UK buyers are more cautious, showing low confidence in developers and off-plan deals and preferring “safe” markets. He added that they have less equity at their disposal, partly due to the weakness of sterling, and so are looking for higher quality for lower price. Spain is now regarded as Europe’s new “bargain” distressed sales destination.

Evans said that one of the things that Cypriot developers must do in order to compete internationally is to adapt their product in order to present a regulated and safe purchase process to their target market, addressing issues such as escrow deposits, title-deeds, planning and bank guarantees.

Tofarides told reporters: “The legislation in Cyprus relating to property purchases is very good, and will become even better when the proposed laws are passed”, referring to the five bills designed to go some way towards solving the title-deeds problem.

Interior Minister Neoclis Silikiotis said yesterday that the government is “making a huge effort to improve legislation and plug gaps that have formed over decades, in order to fashion a more secure situation regarding title deeds in Cyprus.” He added that the target was to have the bills approved by the House of Representatives “before the end of the year”.

Copyright © Cyprus Mail 2009

[Christine Toskos]

Zan:

Makarios did not drive you out. When Cyprus was invaded by the terrorist nation of Turkey, they rape our Greek island and made you a slave. You should go to the internet to learn exactly what happened. The only people who want to destroy us is Turkey. They are an inferior people. They never build civilizations. They never had great literature, except how to destroy civilizations. They never contributed to culture anywhere. The only thing they gave our planet was grief, and genocide.

Remember, the only fair solution is for the Turkish slave-owners to leave our island and never to return. Turkish Cypriots will have full citizenship as long as they obey our democratic laws: Freedom of liberty, Freedom of Assembly, Freedom of Religion, Freedom of Speech, Freedom of the press and the presuit of happiness. Only then will Turkish Cypriots be receive a decent education. Right now many TC are escaping from the Turkish slave-owners and sending their children to Greek schools to get a decent education. These children are the only ones who are the hope of the Turkish Cypriots to finally be free from Turkey's enslavement.