Nicosia, Cyprus. Cyprus’ new House of Representatives must treat condominium reform as an urgent public safety issue, Cyprus Real Estate Developers Association vice chairman Savvas Georgiades said, warning that years of delays have left thousands of residents exposed to poor maintenance, weak management and deteriorating buildings.
Call for urgent legislative action
Georgiades said the management of jointly owned buildings has become one of the most pressing issues, particularly after recent developments that showed the matter can no longer be left on hold.
He said many of these buildings are facing serious maintenance and management problems, creating risks not only for property values but also for the safety of residents.
Concerns over the current framework
According to Georgiades, poor management, weak oversight and the lack of proper controls have contributed to the serious deterioration of a number of buildings, with direct consequences for resident safety.
He said the Management of Co-Owned Buildings and Related Matters Law of 2023 must be placed high on the agenda of the new parliament, adding that the existing legislative framework fails to respond to modern needs and market realities, particularly in collecting communal fees, enforcing decisions and ensuring proper maintenance.
Proposed measures
Georgiades said the proposed bill is needed to create a more modern, functional and efficient management system that can ensure the smooth operation of jointly owned buildings and the safety of citizens.
He said the association supports establishing management committees as legal entities, arguing that this would provide a clearer structure, stronger authority and a more effective role. He also highlighted the importance of mandatory reserve funds, saying they could serve as a financial safety net for future maintenance, upgrades or emergency repairs.
Recent incidents underline risks
Georgiades said the collapse of a building in Limassol, which led to the deaths of two people, along with the subsequent evacuation of apartment buildings in other parts of Cyprus over safety concerns, showed that there is no longer any room for further delays.
He said regular maintenance and proper building management are not a luxury but a basic requirement for protecting the safety, value and sustainability of the country’s building stock.
