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Buyers of off-plan real estate investment property at Peyia Springs in Cyprus

Peyia Springs - Talk to other property buyers

If you are buying a property off plan at Peyia Springs, Peyia, Cyprus, Eye on Worldwide enables you to communicate with other property buyers at Peyia Springs, and to share photos with each other.

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New Property Development Details:

Development Name:  Peyia Springs

Location: Peyia, Cyprus

Estimated Completion: Sept. 07

 

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Start talking now to your fellow real estate property buyers at Peyia Springs in Peyia, Cyprus!

Below are a selection of the most recent messages posted for this development. To read all the posts, contribute your own and view and share progress photos, please regsiter above and log in.

DISCLAIMER: All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Worldwide, its servants or agents.

MessagePosted by

I'm going over in October to take delivery, there's no way it's gonna be completed in time again!, also there's not many furniture shops open in August, so i'd have any empty apartment as well. Thats the recommnedation by Pafilia .

Satelite dish idead is brilliant, i'm on block b if any one wants to share one, thats if it's possible.

aabdul

I asked Anna about communal satellite dish - she advised she would be speaking to Elivom nearer delivery date (still saying 1 August). 

Went up to the site yesterday - no chance of everything being ready by that date.  Our apartment in Block C is coming along, but Block B still not finished - can't see a lot of progress on the site itself, and only 5 weeks to delivery!

brendaw

Hi there - has anyone got any idea with the process for satelite tv? Is it one big dish for all or per unit? I would of thought best from cost / aesthetics would be one big one. If there is an option to share a dish for many units, is there any appetite on here to do this?

Cheers

yeboahconstrictor

Hi

I have property in Peyia Springs and have had many dealings with Paflia as I have another property built by them.

I have seen the most recent photos and will be surprised if the development is complete even by September.

It is true that we have not had the opportunity to utilise the property over an entire season.  My mortgage kicked in for Peyia long ago and I am particularly dissapointed that the initial payments were released on time when Pafilia (and the solicitor) new there was a huge delay.  All in all I like you am significantly out of pocket.

Out of interest there were dealys with my other property and when I travelled to Cyprus in April to take handover I requested Pafilia provide some simple accomodation for 2 days.  They stated that it was my responsibility.  On pointing out that had Peyia been complete on time I would have stayed there.  The customer un-care team stated that this was a completely seperate issue.  Suffice to say I arranged my own accomdation at my own expense.

Since I have been burnt on 2 occasions by Pafilia and have had little reasonable guidance or assistance I will be looking to receive significant compensation from them. 

I will await with interest to see how other people resolve issues with Pafilia and will keep you all posted on my results.

 

Another reasonable but difficult customer

bla

Good news folks, we have been given a delivery date of 1 August.  As we live in Peyia in rented accommodation we have been able to keep track on progress.  Pool is in (not lined yet), lifts have been installed in Block C (not certain about Block A), and some units have have the floor tiling put down.

We are keeping our fingers crossed that August 1 is deliverable!

brendaw
I've seen the new photos and agree that a June completion looks v v ambitious. Nothing seems to have progressed since the last round of photos...yeboahconstrictor

Hi  has anyone seen the latest photos, there is no way they are gonna complete by June 30th from the pics i got the the other day.

Colby where on block B have you bought, i've got B2.

 

aabdul

hi  message board very quiet when i spoke with anna last week she is saying site enginner is still saying peyia springs will be ready 30 june iff any one has any more info i would appreciate iff you can post message       colby

colby

hi has any one news on the progress at peyia springs we are buying in  block b anna says the site engineer says all will be will be finished for the 30 june i have my doubts do you think they will open part of the site or wait till the whole site is finished     colby

colby

Hi

-If you read back this thread you can gauge some of the frustrations! A year delay has not helped but the real issue for me was the lack of communication from the cust services team. To be fair, this has improved of late and I get regular updates and they even respond to emails now

- My worry is that this won;t be fully completed until Sept '08 so we all miss the summer holiday rental income and then the mortgage payments kick in with reduced opp to bridge some of the mortgage payments.

- has anyone got a view on the water shortages and potential impact on P Springs? Have Pafilia given anyone a view / steer on this??

 

 

Cheer

yeboahconstrictor

Hello

We are new to this site and are buying a property in block B.  As we are currently based in the UK we would appreciate news regarding the progress of the build along with details of problems other buyers are experiencing.

 

 

colby

Hi all

FYI - Pafilia monitor the forum's.

In a cross communication between anna, myself and kyriakos i was called a difficult client and that i had been slagging off Pafilia on some website, obviously this wasn't meant for me but its not re-assuring that this is what they think of us clients.

Of course i'm gonna slagg them off if they dont deliver on time as well as getting fobbed off whenever you ask them for details.

Also i had intended to visit in july and take delivery but thats off the cards now, kyriakos has promised free accomodation when we visit. Anyone agreed any compensation for late delivery, would be interested if any one has been offered anything.

We've got a total of about 5 buyers on this forum for Peyia Springs, anyone in contact with any other's we need to come together and resolve these matters. Looks like everyone is told different stories about the dealy.

aabdul

Just had an e-mail from Anna - Confused!!!

Good afternoon,

As per our conversation during this week as we are 5 months away from the delivery of Pegia Springs, with block B’s foundation now going up we feel that by July the property may not be entirely completed i.e common areas. After meeting with the construction, the Project Manager has projected that the construction build of the project could complete by July 30th, 2008.

To ensure that the hand over of your property goes smoothly I recommend that you do not book any tickets yet until 2-3 months prior to delivery at which I will confirm with the "confirmation completion letter" the exact date of completion.

brendaw

Sorry to be the bearer of bad news, but I've just seen this on the Pafilia website:

A201
View Details
Ref No : PEYSPA201 Development : Peyia Springs
Location : Peyia No of Bedrooms : 1
Property Type : Apartment No of bathrooms : 1
Condition : Off-Plan Property Area : 57.17 m 2
Delivery Date : 30 September 2008 Price :
EUR € 144,000
( CYP £ 84,279 )

So it looks as if September is official!!!

brendaw

Hi Folks

I'll try to get some photos on Saturday afternoon (no workers on site then). 

Being in th euro doesn't seem to have had much impact on house prices - which are higher than when we originally agreed to buy in 2006 (by about 10%).  The Cypriot government have tried to ensure that there is no profiteering from the conversion to euro.

The main issue is that £ Sterling has lost a lot against the euro since dear old Northern Rock went pear shaped (was 1.45euro to £1, now its 1.33euro to £1), so it feels a lot more expensive out here now.

Can't comment on the rental market, as we haven't seriously looked, we intend to live in our apartment, when we can get into it!

B

 

 

brendaw

Thanks for the update B - much appreciated.

I've booked flights for the wife and i for 1st week in July based on conversation i had with them a month or so ago. I've also got flights booked for August for friends wedding (some guest due to stay at P Springs with me!).

Most frustrating is the distinct lack of proactive communication, that Anna lass needs a rocket up her ar*e.

Cheers

 

yeboahconstrictor

Thanks for the update B, i know its bit cheeky but if you do go past the development could you get a snapshot of block B.

lack of materials?? what a farce, i dont believe anything these guys tell me any more.

As you are in cyprus you may have more insight into the property market over there, what has the euro done to property prices?

Unsure whether to sell or rent out property when (fingers crossed) it completes.

aabdul

Hi folks

Went to see Pafilia today and asked the question to Anna.  She admitted that there could be a delay due to problems with Block B (lack of materials???), but the site engineer thinks it will be completed on time!  As we have seen how quickly things can move we remain optimistic - but prepared!

We will probably be advised about April time if there will be a definite delay, so if I were you I wouldn't book my flights just yet!  The weather here is not helping - we've had cold and wet conditions for the past 10 days (snow in the hills last night!). 

I'll keep the board posted of any further updates.

B

brendaw

this is getting very annoying now, like last year we have made some plans for July onwards and the noises, albeit, second hand are far from reassuring.

Brendaw - can you post what feedback you get tomorrow please?

Cheers

yeboahconstrictor

I've also been advised that the revised delivery date of June 08 might not be met, this is due to weather problems back in December.

I am buying in block B so the news their are problems with the foundations is very worrying, i will investigate further.

Brendaw please if possible get a picture of block b and surrounding area to see if there is any work going on with the fondations. This would be much appreciated.

aabdul

We are buying in Block C and have not been advised of any further delay!  We are now living in Cyprus in a Pafilia provided house about half a mile from Peyia Springs, so see the site everyday.  Progress is happening quite fast, but we had noticed that Block B appeared to have a delay - who advised you - was it Pafilia?  We are going to see them tomorrow to discuss our extras, so I'll ask the questions.

With regard to compensation - Pafilia have provided us with a rent free house for 4 months, and the remaining time (until Peyia Springs is ready) at a reduced rental - price still to be determined.

 

brendaw

Latest news on this is that there are delays /problems on Foundations on Block B which will hold back completion of the whole site to Spet / Oct 2008.  Other blocks are on schedule for revised June date except communal areas.

Any one heard anything more on whether the problem with Block B is major.  Annoyed now to have lost 2 summers from this development.

gossie

This board's gone a abit quiet of late....with only 6 months to go are all investors happy with the progress? Had some photos sent through today from Anna...still a way to go (although I'm no expert!)...she said that progressing well but she went there last week and still thinks there is work to do....and think the communal areas may not be completely finished by the new date!

Block D looks to be the one making the most progress..

cheers

YeboC

yeboahconstrictor

I have checked this out via Louise Zambartas legal section on www.cyprusliving.org and she reckons it is usually 4 weeks grace they have before being in breach of contract. If there is nothing in our contracts regarding level of compensation, we have to sue, but my understanding from Parador properties at the time was that compensation for late delivery is usually "substantial".

I am moving to Cyprus in July and will be renting until completion. I will sue for at least the value of renting a comparable dwelling if there is a delay.

As for witholding payment, I asked Yiannis Papazacharia in December about holding back my payment. Given that my house hadn't even started and I would be paying my 75% completion instalment, I felt it reasonable. Yiannis advised that as the contract stated payment was due on that date, I had no option but to pay. I wil be going back to Yiannis, given your arrangement with Pafilia. I have now paid 75% for a house without even the foundations completed. I have now paid everything except the final completion payment.

AndrewMary

Still looking into the compensation matter, nothing has been offered as yet.  All Pafilia have said is that there will be no interest payments on the dealyed term of 9 months.

You say that you were told that anything over a 2 month delay and they would pay out! Can you give me more details on this, payout for what and is it in writing?

I have now received updated contracts to confirm a completion date of June 2008, a 9 month delay.

The border dispute has been resolved and construction has commenced, although i have had no updated photos.

aabdul

Am I right in saying you will receive compensation for the delay? When we bought at Anarita, we were told that anything over 2 months delay would mean they would have to pay out.

AndrewMary

Hi Folks

Has anyone bought on this development, Pafilia have set a 9 month delay, any one else having problems?

aabdul

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