I purchased an investment apartment in the village of Tersefanou, Cyprus after going on an inspection trip in 2007 via Paschali Developers. According to the original architectual plan that was shown to myself and the other purchasers, the development was supposed to be all apartments within a spa resort.
I went on an a further visit to Cyprus in November 2009 to see for myself how the project was progressing. It was very beautiful and I was impressed. However due to the fact that I am not an architect I was not aware that the building situated very near to my lovely apartment was no longer boing to be an apartment but an outdoor communal bar. A communal bar in normally situated in a commercial area and not a residential area due to the noise. I return in 2010 and then realised it was an open communal bar. I was not happy and stayed in the apartment for one week and it was terribly noisy. [continued below]....
..... I sent an email to the developers and asked them why the bar is there and can they do something about it. The reply I received from the Area Manager Ntina Paschali was that if I am not happy with it I can always sell it. That was no good to me at this stage because the mortgage would not cover the selling price which meant I would lose out and the whole person of it being purchased would be lost, it was an investment. These greedy people put it there for there own gain as I later discovered after consulting a lawyer.
My Agent tried really hard for me to rent it and it was hard as as soon as the renter saw the bar they did not show further interest. I even tried via Holiday Lettings and managed to find a lovely couple who rented it for two weeks and they were so impressed by my apartment that they wanted to rent it for a further six months. I was so happy as that would of been my mortgage being paid. Then the bombshell! After careful consideration they sent me a further email stating that they could not stay in the apartment after the two weeks due to the noise and left to go into a villa. I then managed to get another renter but she was received by my Agent and only stayed in the apartment for 30 minutes and then telephoned my Agent demanding that they put her elsewhere. So the next day they managed to move her into another person's apartment, hence I lost another renter.
I have now been going through the legal process via a lawyer that a friend recommended to me. It has been going very slow, they managed to discover that the bar is owned by Paschali and it is illegal but I cannot understand why it is still in the complex. The lawyers informed me that if I were to go through the legal route and sue for disturbance it may take 2-3 years to process, I told them that I haven't got 2-3 years to sit there as I am presently being forced to pay a mortgage in the UK plus a mortgage in Cyprus. As I am writing this statement they are consulting the authorities again for me. I even asked the Lawyers at one stage to write to the Developers and ask them to buy me out but they never even replied.
I just want the bar closed down as it should never have been placed so near to a residential establishment. Their greed has caused problems, the only one benefitting from the development at present is the greedy developers via money made from the bar and since completion in Spring 2010 I have made 340 from the apartment.
With the help of God the authorities may eventually get the developers to close the bar as it is illegal but at the meantime, I have an apartment that nobody wants to stay in due to the noise and am not making an profit. Paschali have really scammed and deceived me.