Philenews

Half of Property Sales in Cyprus Involve Third-Country Nationals – New Law Proposals Imposed Restrictions

Published March 19, 2026, 20:19
Half of Property Sales in Cyprus Involve Third-Country Nationals – New Law Proposals Imposed Restrictions

One in two property sales in Cyprus now involves citizens of third countries, according to the president of the Parliamentary Committee on Interior, Aristos Damianou. This trend has raised concerns, particularly regarding the occupied Cyprus and British bases. To address the situation, legislative regulation is being promoted to limit the size of properties that can be acquired by foreigners. Specifically, the new legislation provides for a maximum area of 1,100 square meters for land and 200-300 square meters for buildings. In addition, the purchase of forest or agricultural land by foreigners will be prohibited, as well as the acquisition of properties in areas near the ceasefire line or in areas with critical infrastructure (such as ports, airports, camps). The bill, which will be put to a vote on April 2, appears to have broad support from political parties and the executive branch. The aim is to end what is described as "plunder" and protect the interests of the Republic of Cyprus. It is worth noting that the Ministry of Interior had previously proposed similar regulations, which however did not succeed. The current proposal appears to have found common ground and is more likely to be adopted, thus imposing restrictions on the purchase of property by foreigners in Cyprus.