CYPRadar 🇨🇾🏠 Cyprus urged to prioritize urgent condominium reform following safety concerns
Savvas Georgiades, vice chairman of the Cyprus Real Estate Developers Association, has called on the new House of Representatives to urgently address condominium reform as a critical public safety issue. He warned that delays in reform have exposed thousands of residents to poor maintenance, weak management, and deteriorating buildings, heightening safety risks.
Georgiades emphasized that the Management of Co-Owned Buildings and Related Matters Law of 2023 must be expedited, highlighting existing legislation’s inability to meet modern needs such as fee collection, enforcing decisions, and ensuring building upkeep. He advocated for legal recognition of management committees and mandatory reserve funds as financial safeguards for future repairs.
The call comes in the wake of a fatal building collapse in Limassol and subsequent evacuations, underscoring the urgent need for stronger oversight and early detection of structural risks. Georgiades stressed that proper maintenance and management are essential for safeguarding residents’ lives, property values, and the sustainability of Cyprus’ building infrastructure.
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