CYPRUS PROPERTY LAWYER IN FAVOUR OF EDUCATING FOREIGN PROPERTY BUYERS
6:21 pmin Cyprus Lawyers, Cyprus Property Lawyers Lawyer3 Comments Off
Due to a recent review of real estate in Cyprus, it has been suggested that Developers, Agents, Solicitors and other professionals operating on the Island must edify foreign nationals on all issues concerning Land registration. With the current market taking a turn for the worse, the developers must also do their duty and put their hand in to play to help pacify this situation.
Professionals must explain in detail to purchasers, how the Land Registration System works regarding Title Deeds for their property. Also of paramount importance is putting emphasis on the safety of the system and their rights to the property, while Title Deeds are in application.
There has been so much controversy surrounding this issue that overseas buyers have lost confidence in the Cyprus Property market. We feel this is due to lack of information and we fully support this advisory notion, that developers should play their part in educating purchasers and help in trying to restore their confidence.
Due to the current drop in sales of property, developers are in a vulnerable position, so to speak, as the purchasers are making the most of this situation and demanding more for their money. There are also many competitive hotspots to choose from around the Mediterranean and in Europe. Therefore, it is imperative that the developers, agents and solicitors are on top form, and the overseas buyers feel safe investing in Cyprus.
We at A&G Kouzali Law Office are continuously involved in trying to help find a solution to the Land Registration issue. Members of the Cyprus Government are taking every step possible, along with introducing 5 new legislations, to facilitate in making the system more efficient and speedy.
As a Practicing International Property lawyers based in Paralimni Cyprus, having an established and continuous international client base, we feel more confident that this issue is closer to a solution. We also strongly recommend to all overseas buyers interested in property in Cyprus, that it will be a solid, safe and profitable investment.
Visit us at www.lawcyprus.org PUBLISHED BY A&G KOUZALI LAW OFFICE ON 7TH DECEMBER 2009