Cyprus' leading on-line resource for home buyers & real estate investors -

25th February 2024
Cyprus Property News logo
HomeTitle Deeds100,000 still waiting for Title Deeds

100,000 still waiting for Title Deeds

It is high time a comprehensive solution to the issue of ‘trapped buyers’ is found, the House labour committee concluded on Wednesday, as deputies stressed their determination to tackle the almost 100,000 property buyers who remain without their Title Deeds.

Deputy chairwoman of the committee and Disy MP Fotini Tsiridou said MPs are currently examining an amendment to the existing legislation that can help these home buyers in buying and transferring property.

Most trapped buyers cannot obtain Title Deeds because developers had mortgaged the land to the bank. Buyers were unknowingly duped into buying property on this mortgaged land even though they paid for their properties in full. As such, they have been barred from obtaining Title Deeds thus rendering them trapped buyers.

In other cases, Title Deeds were not issued because of irregularities with developers not adhering to building permits.

Solving the long-standing issue is a prerequisite for the Recovery and Resiliency scheme, Tsiridou noted.

“This bill does not tackle the problem of trapped buyers in its entirety, whether because buyers are trapped because of the mortgage or other illegalities, but it is a regulation towards a right direction. We are discussing it to see if we can improve this framework.”

She added the matter will be discussed at a committee level again, with attendees who can help create the best framework for the buyers.

Asked to comment on the severity of the issue, Tsiridou said there are almost 100,000 trapped buyers but most concern buyers who may be trapped for reasons other than the mortgage.