Cyprus Mail
Property

A wake up call for interior minister

Interior Minister Constantinos Petrides

By Antonis Loizou FRICS

We address this article to Interior Minister Constantinos Petrides due to his recent appointment to this demanding post and lack of experience in matters that affect the building industry.

This is a short list of subjects which were not addressed by predecessors and were left to escalate to serious problems appearing now.

Common Expenses Law

A law which is not workable and it is doubtful if it is at all understood. A matter which will come up increasingly often bearing in mind the large projects with common ownership such as the high rise buildings, marinas, golf courses etc.

Private v Public Swimming Pools

A joke since no one knows what is a private and a common pool. If there is a common pool this should have a life guard, changing rooms, first aid room etc. What is this? Does not work.

Villas to let Airbnb

We reported back in the year 2004 and the lack of policy on this. Only recently the government has woken up to this scam and nowadays everybody is upset including the “sleeping” Hotel Association and others.

Seashore Protection Zone

The seashore changes over the years and the prevailing law provides many unreasonable provisions. It needs to be readjusted and to reflect the present circumstances including the allowance of beach improvements within the public zone for public benefit.

Minimum House/apts size

It just does not make sense to fix a minimum size of a residential units causing the market to build units larger than what people can afford. Proposals since 1990 and repeat reminders.

Planning zones of the 1950s

Only recently there are some changes on this. The planning parameters by area and the quota system is an innovative suggestion and what is needed today which will help the local market per district. Now we have some sort of a proposal but it misses the point totally.

Students Halls

A new requirement but the building regulations require extensive requirements for parking and this is the reason for investors holding back (to an extent) much to the distress of foreign and local students.

Passports & Visas

Various warnings submitted three years ago have now surfaced for possible future problems. The EU is now noting this and we expect a problem in the near future which will have a serious effect on the building industry and the economy in general.

Height and density-Tourist Projects

Some progress has been made but many more incentives are required. The recent incentives have caused the upgrading of hotels and have partially met the increased demand.

The mountain regions

Proposal submitted 12 years ago remains on paper and now most of the hotels in these regions have closed down. Recent announcements by the Government for €800,000 contribution for improvement is grossly inadequate. A much more imaginative scheme is needed of a wider parameter in the region of €5,000,000-€10,000,000 for the mountain region to have some sort of a sporting of chance to succeed.

 

Antonis Loizou & Associates Ltd – Property Valuers, Property Consultants & Estate Agents, www.aloizou.com.cy[email protected]

 

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