Property companies fined for failing to advertise energy efficiency

Nine property companies were slapped with fines up to €30,000 for failing to mention the energy efficiency category of the properties they advertised.

The trade and commerce ministry’s Energy Service said that during checks, it found that nine businesses were violating the law on the regulation of energy efficiency of buildings. The law provides that natural or legal persons advertising the sale or lease of buildings, must state in the advertisement the energy efficiency category of the property.

The authority imposed administrative fines to various companies depending on how many violations were found.

Askanis Developers Ltd was fined €1,000, and Quality Property Developments €3,000.

PL Property Gallery Holdings Ltd, Leptos Estates, K & P Christou Construction & Developers, and Livadhiotis Developers Lefteris Livadhiotis & Sons were each fined €5,000.

Companies that were found to violate the law with a larger number of advertisements, from 186 to over 300, were slapped with bigger fines.

Prime Property Group was fined €10,000 and Altamira Real Estate €20,000.

Remu, Real Estate Management Unit, of the Bank of Cyprus Group was fined €30,000.

According to the decision, the companies failed to take corrective action on all commercial advertisements 10 to 11 months after they were notified of the violations.