- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Russians warned against buying property

warning to russians buying property in Cyprus
RUSSIANS flying to Cyprus from Moscow’s Sheremetyevo International Airport are being warned not to buy property on the island according to an article (in Russian) on the Federal Complaints website.

The warning comes in the form of leaflet being handed to travellers entitled “Осторожно, Кипр!” (Beware of Cyprus!).

It tells the story of a young Russian couple who were allegedly caught up in a web of deceit involving a mature Russian woman from Moscow and a local developer while they were honeymooning in Cyprus.

The Russian woman apparently introduced herself to the young couple and eventually persuaded them to inspect a number of apartments after which they were introduced to the property developer.

What followed was typical of what has happened to many others who have bought property in Cyprus. Although the couple were very sceptical to begin with, they were eventually persuaded to buy an apartment after being told that the developer in question was the “most honest of Cyprus” and that there was a queue of tenants lining up who were willing to pay €1,000 a month rent for the apartments once they had been completed.

The contract was signed in the developer’s office. The husband attempted to exercise a degree of caution by getting the contract read to him by an interpreter. But the developer stepped in and assured the couple that many Russians had purchased properties from his company without any problems.

Unfortunately as a result of the stress and anguish caused, the article reports that the couple have now divorced and the husband has lost his job after suffering a nervous breakdown.

A group of lawyers is gathering information about the activities this developer that will enable a class action lawsuit to be filed with the International Court of Justice in The Hague and to provide the law enforcement agencies in Cyprus and Russia with sufficient material initiate criminal proceedings.