CYPRUS’ compliance with the Memorandum of Understanding on the subject of property has been called into question once again; by Sir Graham Watson MEP for South West England and Gibraltar.
In his latest question Sir Graham asks about the quarterly progress reports and property buyers who cannot obtain Title Deeds as the banks are holding them responsible for repaying their developer’s debts.
Question for written answer E-013712-13
to the Commission
Sir Graham Watson (ALDE)
Subject: Cypriot property
In reply to Parliamentary Question E-006305/2013 regarding Cypriot property deeds, the Commission highlighted the importance of Section 5.4 of the memorandum of understanding (MoU) concluded between the Commission, acting on behalf of the European Stability Mechanism (ESM), and the Republic of Cyprus, which aims to eliminate the title deed issuance backlog.
Section 5.4 includes the requirement for the Cypriot authorities to ‘publish quarterly progress reviews of the issuance of building and planning permits, certificates, and title deeds, as well as title deed transfers and related mortgage operations throughout the duration of the programme’.
1. Can the Commission state how may progress reports have been published and how many it has received?
2. In addition, can the Commission disclose the number of building and planning permits, certificates and title deeds which have been issued, and the number of title deed transfers which have taken place so far?
3. Is the Commission aware that some Cypriot banks are informing buyers that title deeds will not be transferred unless they pay thousands of euros towards outstanding debts incurred by developers?
4. Is the Commission satisfied that all the requirements under Section 5.4 of the MoU are being met by the Cypriot authorities?
Answer given by Mr Rehn on behalf of the Commission (added)
Since July 2013, the Cypriot authorities (Ministry of Interior) are publishing data and reviews on the issuance of building and planning permits, certificates, and title deeds, title deed transfers and related mortgaged data, in accordance with the ESM MoU requirement under article 5.4.
These data and reviews are published on a quarterly basis and they are available to the public at the Ministry of Interior’s website. In addition, the Commission would like to refer the Honourable Member of the European Parliament to the First and the Second Review of the Economic Adjustment programme for Cyprus.
The Commission is well aware of the unresolved issue of the pending title deeds in Cyprus and it attaches priority to resolving it in the interest of the Cypriot economy, the European taxpayer, and the EU citizens affected by the problem.
As the issue of the title deeds and the encumbrances attached to them is a complex one, the co-operation among a number of Cyprus’ public administration units is also required.