Like many other Brits, we attended a Foreign Property Exhibition (hosted by MRI) which led to an inspection trip to Cyprus in 2007 where we purchased (for 192k) an off-plan 2-bed apartment near Paphos.
MRI introduced us to an 'independent' lawyer (Emily Lemoniati) for our purchase from Paschali Holdings.
Both MRI and Paschali led us to believe the apartment was to have a covered area of 79 sq m with a balcony of 32 sq m - Paschali's current price-list for this development still reflects these sizes.
Our mortgage, also arranged by this lawyer, is valued for an apartment of this size.
The apartments have now been built and the covered area is more than 16% smaller than we have paid for - equivalent to more than 30k.
They have been able to perpetuate this scam (on this development and at least two more of which we are aware) with the aid of the lawyer who turns out to be Paschali's own lawyer, and is allegedly the girlfriend of one of the Paschali family. She drew up a contract which did not specify the size of the apartment and whilst a plan was attached, it had no dimensions marked on it.
Marilyns
Cambridge
United Kingdom
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