About Us

The Cyprus Property Action Group was first established in May 2007 by like-minded volunteers in order to try to get the Government of Cyprus and the industry to change the risky system of buying new property in Cyprus.

We must state that we have no wish to harm the Cyprus property market, quite the reverse, we would desire for everyone’s benefit that the island becomes one of the safest and most attractive places to buy property.

Thousands of buyers quickly joined the CPAG movement and a dialogue was set up with Government, however it soon became very clear that the Government and industry was unable or unwilling to change the system.

More shocking was the discovery of just how bad the situation really is!

It is accepted that in a small country like Cyprus (population circa 800,000) over 100,000 homes do not have title deeds in the names of the rightful owners, around 30,000 of these properties have been bought by foreigners, mostly from developers.

Many developers withhold the buyers’ deeds in order to use them as collateral for their own mortgages.  This was never disclosed to buyers, even by their own lawyers!

Should the developer go bust, which is now starting to happen, the banks have first priority on the properties and buyers stand to lose their homes.  Developer mortgages now stand at nearly €6billion up from only half that figure in 2008.

We have now therefore modified the scope of our objectives to include warning prospective buyers about the real dangers of buying from Cypriot developers until adequate steps are taken by the industry and Government to rectify matters.

Our Aims are :

  • Lobbying for change to the risky system of  buying new property.
  • Organising  buyers to collectively stand up for their  rights.
  • Warning prospective buyers of the pitfalls of buying new property.

We will continue to campaign by any lawful and peaceful means for the urgently needed changes to the laws and practices governing the sale of properties by developers in Cyprus which currently operate to the legal and financial detriment of legitimate buyers.

The British High Commission is fully supportive of our aims
and takes a keen interest in our activities

© 2011 Cyprus Property Action Group

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