I WOULD like to refer to the editor’s choice letter published in the Sunday Mail of May 1, regarding the Limassol Planning Department’s arbitrary re-evaluation of a buyer’s property.
I, and no doubt thousands of others, are wondering what it’ll take for Cyprus to clean up its act regarding property purchasers being duped by the heinous practices of certain developers, lawyers and banks in relation to the ongoing title deeds’ scandal.
Successive governments have allowed this situation to fester and this ostrich-like behaviour continues, despite the current administration trumpeting the recent passing of bills which in reality do not address the core issue of existing property ‘owners’ being saddled with fraudulent developer mortgages.
There also exists a further hurdle in the form of the Land Registry bumping up the perceived value of properties in order to extract higher property transfer fees for the state coffers. And this in a market whose values are falling. Nice money if you can get it.
It seems the authorities are hell-bent on adding the finishing touches to their nation’s depressed and now tottering economy and helping to confirm the island’s already negative reputation vis-a-vis integrity and natural justice.
RIP Cyprus. Your days are irrevocably numbered.