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Land Acquisition by Foreigners: Amendments to be Voted on Before Parliament Dissolution

Published March 26, 2026, 14:12
Land Acquisition by Foreigners: Amendments to be Voted on Before Parliament Dissolution

The House Interior Committee has agreed on amendments to the law on the Acquisition of Immovable Property by Foreigners, with the aim of voting on them before the dissolution of Parliament ahead of the parliamentary elections. The amendments aim to manage the risks associated with land acquisition by foreigners, especially from third-country nationals. Committee Chairman Aristos Damianos stated that they have finalized the key changes and the text will be distributed to members by Monday. The intention is to vote before dissolution, based on the Parliament's schedule. EDEK MP Marinos Sizopoulos emphasized the need for careful management of the issue, as there are both positive and negative aspects. He warned of the risk of transferring large areas of land to third-country nationals and the existence of Turkish-owned companies that could exploit the right to purchase land. The amendments seek to balance attracting investment and protecting national interests, preventing the creation of monopolistic systems in vital sectors of the economy by foreign companies.