PICAS - Property In Cyprus Action Support Group

Next PICAS Meeting

PICAS - Steve — Thu, 05 Jan 2012 12:44:54 +0000

Our next meeting will be held on the 28th March 2012 – 2:30pm at the usual venue which is the Dheklaia Leisure Resort.

For those who have not attended previously you can find directions to the venue on our Meetings Page

If you wish to attend then it would be helpful if you could complete a quick form for us so that we can gauge numbers and prepare the room accordingly. You can find the form on the Contact Us Page

If you cannot attend the meeting but would like to be kept informed of what was discussed by being included on the Notes distribution list then please also complete the simple form on the Contact Us Page

We look forward to seeing you and hopefully providing as much assistance as possible.

Petition To Stop Alpha Bank Repossessing Homes

PICAS - Steve — Tue, 06 Dec 2011 15:25:25 +0000

Petition to stop Alpha Bank repossessing homes

By: Nigel Howarth
Published: Tuesday 6th December 2011

A petition has been launched calling on the Interior Ministry and the Land Registry to reject any application made by the Alpha Bank to auction land to recover money owed to it by the bankrupt developer Yiannis Liasides.

YESTERDAY the Property in Cyprus Action Support Group (PICAS) launched an on-line petition concerning applications made by the Alpha Bank to auction eight plots of land in the Paphos district to recover monies owed to it by bankrupt property developer Yiannis Liasides.

People affected by the Alpha Bank’s applications paid Liasides for their homes in full and have also been forced to spend many thousands of Euros in addition to make their homes habitable by completing unfinished construction work, build roads and obtain utility services as a consequence of the company’s collapse.

These unfortunate people may lose their homes if the Alpha Bank’s applications are approved.

Time is of the essence and PICAS is urging as many people as possible to sign its on-line petition. PICAS plan to submit the petition to the Ministry of the Interior. The petition reads:

Stop the Alpha Bank’s application to Auction

We the undersigned demand that the Ministry of the Interior and the Land Registry in Cyprus act decisively and intervene by rejecting any and all the applications made by the Alpha Bank to auction eight plots of land that were mortgaged to property developer Yiannis Liasides against which contracts of sale to purchase immovable property have been lodged.

Many people who bought from this developer in particular and in Cyprus in general did so with the utmost good faith. They were reassured by the Ministry of the Interior that once a contract of sale is lodged with the Land Registry for Specific Performance then the buyer is protected.

In his statement of the 22nd July 2009, Interior Minister Neoclis Sylikiotis wrote “Nobody and no Authority anywhere can ever challenge the property rights or the ownership status of buyers of immovable property within the territory which is under the control of the ROC.” And that “the property market in Cyprus is stable and secure, and property buyers must be absolutely certain that their investments are safe here; indeed, property investment is much safer in Cyprus than anywhere else”.

We ask that a clear and unequivocal message is sent to the banks in Cyprus that buyers must not pay the price for the failure of developers, negligence of Advocates, lax oversight by the banks and the inability of successive governments to legislate against this.

Failure to send such a message will result in a complete breakdown of trust and confidence in both the Cyprus property market and also in the assurances made by the Minister of the Interior on behalf of the Cyprus Government.

Please Sign This Petition!

Alpha Bank Moves To Repossess Homes..

PICAS - Steve — Tue, 06 Dec 2011 15:13:36 +0000

Alpha Bank moves to repossess homes built by Liasides

By: Patrick Dewhurst
Published: Sunday 4th December 2011

More than 100 people face losing their homes following applications filed by the Alpha Bank to auction eight plots of land that it mortgaged to bankrupt property developer Yiannis Liasides.

THE long-dreaded day when banks move to repossess homes sold by bankrupt developers with outstanding mortgages could be looming, after one bank has applied to auction up to 70 peoples’ homes.

According to the Cyprus Property Action Group (CPAG) Alpha Bank filed applications to the Land Registry to auction eight plots that were mortgaged to bankrupt property developer Yiannis Liasides.

Liasides’ story will be familiar to followers of Cyprus’ treacherous property market. He ceased trading in 2007 without paying off Alpha Bank, leaving around 250 people in 14 plots who bought properties from him without title deeds.

Now the bank has moved in on eight of the 14 after the official receiver faced opposition from residents and former Liasides directors.

In one of the eight, Anarita, Liasides reportedly made no mortgage payments since 2002, and since then the amount owed to the bank has likely exceeded the value of both land and properties that he built and sold to residents. Unfortunately, as acting interior ministry permanent secretary Andreas Assiotis said, land and buildings are considered as one asset to offset against the liabilities, meaning banks may claim to houses on mortgaged land. “The Ministry of interior tried to make it possible for these to be dealt with separately, but the new legislation does not affect existing contracts.” Assiotis said, adding that buyers should take care to study their contracts before paying any money……. [ Read Full Article ]

November Meeting – Date Change

PICAS - Steve — Sun, 20 Nov 2011 00:42:13 +0000

Please note that due to a double booking at the Dhekalia Leisure Resort the November meeting has been cancelled. Instead the meeting will now take place on Wednesday the 7th December – 2:30pm at the same venue.

We apologise for any inconvenience that this may cause but unfortunately the change of dates is out of our hands.

We hope to see you all on the new date of Wednesday 7th December – if you know of anyone that was thinking of attending the November meeting we would appreciate it if you could help us by informing them of the date change.

Many Thanks

The PICAS Team.

SNK Venus/SNK Exclusive Owners

PICAS - Steve — Wed, 19 Oct 2011 13:24:09 +0000

In an effort to keep you updated regarding the SNK situation please be aware the the following statements were made on the Cyprus Eastern Forum by the CRI Group.

The above links are posted for information only.

Town Planning Amnesty Deadline & Changes

PICAS - Steve — Sun, 02 Oct 2011 00:44:39 +0000

Town Planning Amnesty – plan to extend and simplify
By: Nigel Howarth
Published: October 1st, 2011

Update: Deadline Changed To – 6th April 2012

The House Interior Committee has unanimously proposed that parliament grants a six-month extension to the period during which ‘Statements of Intent’ may be submitted under the provisions of the Cyprus Town Planning Amnesty.

PRESIDENT of the Committee, Yiannos Lamaris, explained that in view of the fact that only 2,500 ‘Statements of Intent’ had been submitted, the Committee deemed it ‘appropriate’ to extend the deadline.

In addition to the extension, it was also proposed that the submission process be made simpler:

Under the present legislation ‘Statements of Intent’ have to be submitted together with a sworn statement made by an architect/engineer who is registered with the Cyprus Scientific and Technical Chamber (ETEK). The proposed changes, if accepted, will no longer require a sworn statement, but rather an affirmation made by the owner/buyer concerning the status of the property… [Read More]

New PICAS Website Launched

PICAS - Steve — Sat, 24 Sep 2011 01:10:27 +0000

Welcome to our new website – we hope that you find this site helpful.

Over time we envisage that it will assist in promoting the work of PICAS and also provide a valuable resource and additional communications channel.

Please bear with us whilst we tweak and populate our new site.

How can you help?

Help us spread the word about PICAS to those that may not be aware of us.

Please pass on our web address to your friends:

http://www.picas-cyprus.com

Thanks to the following members of the Cyprus Eastern Forum for use of the photos displayed on the home page: Jims, Pictureman, Adyandkaren, Knightmail, Spartan & Barbersstudio.

Thank You!

No Internet? Spread The Word!

PICAS - Steve — Sat, 24 Sep 2011 01:08:07 +0000

If you know anyone who doesn’t have access to the internet – or who may not be familiar with the Property Planning Amnesty as a way of getting speedier access to their Title Deeds – please feel free to tell them about the imminent meeting of PICAS ( the Property in Cyprus Action Support group )

Expert advice will be available on how to proceed – along with the application forms to register a ‘Statement of Intent’. The deadline for submissions is 7th October, so there isn’t much time left to complete the various formalities required.

The meeting takes place at the Dhekelia Leisure Resort* on Wednesday 28th September at 2.30pm

If you’re reading this message and you ( or someone you know ) wishes to join the meeting, please go to the following link to confirm attendance if at all possible ( to help us with planning arrangements ) – you can also contact PICAS to share information or raise any questions you might have:

http://easterncyprus.com/action-group.php

Sound System For Meetings

PICAS - Steve — Sat, 24 Sep 2011 01:01:52 +0000

Feedback (pardon the pun) from those attending our last meeting in August suggested that it was sometimes difficult to hear answers from the panel.

This was sometimes due to the accoustics and air conditioning.

This was taken on-board by the group and in the September meeting we will be trialing a sound system.

We hope that this is helpful.