Nine Cypriot real estate companies were fined up to € 30,000 for failing to indicate the energy efficiency category of their advertised properties.
On Wednesday, April 14, the Energy Service of the Cyprus Ministry of Trade and Commerce announced that inspections found that nine firms had violated the law regulating energy efficiency in buildings.
As you may know the Law stipulates that individuals or legal entities advertising the sale of housing or rental of buildings must indicate in the advertisement the energy efficiency category of the property.
Depending on the volume of violations, the amount of administrative fines was:
- Askanis Developers Ltd - 1 thousand euros
- Quality Property Developments - 3 thousand euros
- PL Property Gallery Holdings Ltd - 5 thousand euros
- Leptos Estates - 5 thousand euros
- K&P Christou Construction & Developers - 5 thousand euros
- Livadhiotis Developers Lefteris Livadhiotis & Sons - 5 thousand euros
- Prime Property Group - 10 thousand euros
- Altamira Real Estate - 20 thousand euros
- Remu from Bank of Cyprus - 30 thousand euros.
It is worth noting that, according to the Energy Service, the companies did not make adjustments to their commercial advertisements even 10-11 months after they were notified of the violations.