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

EU still progressing Cyprus property issues

IN NOVEMBER Daniel Hannan, MEP for South East England, raised a question in the European Parliament relating to a complaint raised by Denis O’Hare of the Cyprus Property Action Group (CPAG) in 2011.

A week later, David Martin, MEP for Scotland, raised a further question in the European Parliament concerning the Commission’s report on property development in Cyprus.

Commission Vice-president Viviane Reding has provided an update on progress:

Question for written answer E-009932/2012
to the Commission
Rule 117
Daniel Hannan (ECR)

Subject: Justice for property buyers in Cyprus

Tens of thousands of property buyers in Cyprus have developer mortgages on their homes thanks to the corrupt actions of property developers, banks and lawyers. The Government of Cyprus is complicit in these crimes owing to its failure to publicise and enforce the Unfair Commercial Practices Directive (UCPD), as per official complaint CHAP(2011)3252.

Unless the Commission punishes the Cypriot Government for this and offers redress to the victims, is it not also complicit in these crimes?

E-009932/2012
Answer given by Ms Reding
on behalf of the Commission
(14.12.2012)

The Commission has been, and continues to be, active in addressing the problems faced by many immovable property buyers in Cyprus because of the practices of developers, banks and lawyers.

In this respect, the Commission would refer the Honourable Member to its answer to written questions E-008121/2012 and E-006765/2012.

Question for written answer E-010363/2012
to the Commission

Rule 117
David Martin (S&D)

Subject: Commission report on property development in Cyprus

The Commission will be aware that in January 2012 it received a reply to a letter it had sent to Cyprus. The Commission’s initial letter was an enquiry into the actions carried out at a national level to address the practices of property developers and the measures taken to ensure that consumers are adequately informed about the Cypriot law on unfair commercial practices.

In April 2012 the Commission finalised its report on the Cypriot response.

Could the Commission outline the conclusions of this report and provide an update on the situation regarding consumer protection in dealings with property developers (this question is with regard to Alpha Panareti Limited specifically)?

E-010363/2012
Answer given by Ms Reding
on behalf of the Commission
(18.12.2012)

The Commission cannot communicate on the content of the Cypriot letter mentioned by the Honourable Member. Indeed, this document has been received in the context of an on-going pre-infringement procedure and its disclosure, even partial, might jeopardize the process of investigation and inspection of the dispute and its resolution.

Answers to written questions E-8121/2012, E-6765/2012 and E-9932/2012 provide an update on the various actions initiated by the Commission in order to address the problems faced by many immovable property buyers in Cyprus and ensure that consumers are adequately protected.