Action on Cyprus Property

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The CPAG File: Action on Cyprus Property

The CPAG File is a new regular feature in Financial Mirror aimed at informing readers and contributing ideas to strengthen the future success of the Cyprus property market.

Cyprus Property Action Group

CPAG was started jointly by Denis O’Hare ex-banking and finance retiree, David Ball, a local businessman who also led the fight for voting rights in Cyprus for Europeans, Linda Leblanc, a Canadian who obtained Cypriot citizenship and was elected as a municipal councillor in Peyia, and Nigel Howarth, a retired business consultant and recognized authority on buying property in Cyprus.

Mr O’Hare, who had previously run other action groups fighting large multinational finance organisations, has also had personal experience of significant property problems in Cyprus and is currently taking proceedings against the Cyprus Planning Authorities in the High Court.

Other heavyweights with strong international credentials as well as politicians are also rallying round to support CPAG and its aims.

CPAG has a website www.cyprus-property-action-group.net which outlines the aims and goals of the group, plus information about areas of potential pitfalls for buyers. Property buyers and investors can also register their problems and/or support. A growing number of cases by people describing their problems with property here in Cyprus can also be viewed. CPAG is an inclusive group and supporters include several nationalities, including Greek Cypriots. CPAG believes that its support has already made a big difference in a number of individual disputes according to feedback.

Objectives

As a platform for CPAG, this column seeks to:

Identify, analyze and comment on property issues of strategic importance to the Cyprus economy, the property investment market, property development, property buyers, and regulators.
Establish with the industry and with government authorities the criteria for good practice and promote a Charter/Joint Code of Good Practice for the Cyprus property market (covering developers, lawyers, estate agents and public authorities).
Report and comment, where relevant to property in Cyprus, on national and international bodies such as the UN, the Council of Europe and the EU.
Propose actions seeking to improve and strengthen the competitive position and reputation of the Cyprus property market.

Positive Developments

Some examples of the positive things that CPAG is doing are:

Providing buyers with basic and other information that is not readily available to them, in order that they can pursue solutions to their own problems.
Providing direct assistance in some situations to effect solutions. These have included both individual and larger-scale group scenarios.
Cataloguing and understanding the nature and size of the problem areas in the property industry in order to propose potential solutions.
Lobbying support from government and other bodies involved in regulation and support of the industry.
Representations to the EU Commission seeking their support in Environmental and other matters.

CPAG has been quietly lobbying support from the various Cyprus authorities while the British High Commission publicly endorses the group and the website. Although UK Foreign Office policy prevents the British High Commission from dealing with individual property problems that UK citizens may experience, the support and efforts of the High Commissioner and his staff have been exemplary. CPAG is also anticipating support from other countries’ representatives in Cyprus, especially states whose nationals are investing in or buying property.

Financial Mirror - September 27, 2007