MEP Smith’s Cyprus Warning Harsh as Developer Issues 200 Deeds
28 April 2011
Scottish MEP Alyn Smith's warning not to buy Cyprus property for sale because of the title deeds crisis could be seen as overly harsh according to Select Resorts. The firm says that quality companies in the country have recently come on leaps and bounds in securing the title deeds for their clients. According to the firm's director Michael Reilly one of its partners has just handed over the title deeds to owners of half the units in its resort in the country, he said:
"Ok, we know the title deeds issue in Cyprus is a severe one; no one can deny that 40,000 owners yet to have any proof of their ownership is a big problem. But to warn buyers not to buy now, when dedicated parties within the market are working hard to resolve the issue, was a bit unfair to those in the country who are trying tirelessly and finally beginning to achieve successes.
"Our partner at the Aphrodite Hills Property resort successfully issued title deeds to over half of all those who purchased properties on the resort last year, and is currently working with the Land Registry to issue deeds to the other 200 owners. This shows that the recent changes to the law and rules are working, and that if you work with a genuine company in Cyprus you should have little trouble getting the title deeds in the future."
Aphrodite Hills Property Resort is the definition of a premier resort on the continent, and then some. The resort boasts a 5-star InterContinental Hotel, an 18 hole championship golf course with golf academy, an award-winning Greco-Roman spa retreat, tennis and multi-surface courts with tennis academy, and exclusive beach club, nature and bike trails and a variety of bars and restaurants. In short: a whole-holiday resort that you can arrive on your arrival day, and not leave until departure day.
One of the reasons why Cyprus property was so popular is because its prices were so much lower than the rest of Europe's established markets, especially those in the EU. This is true of Aphrodite Hills, and now that the title deeds crisis is barely a worry on the resort, buyers should take advantage of the prices before they rise.