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AKEL Proposals to Regulate Uncontrolled Property Purchases by Foreigners

Published February 26, 2026, 17:02
AKEL Proposals to Regulate Uncontrolled Property Purchases by Foreigners

The House Interior Committee discussed AKEL's proposals to regulate the property market from foreigners, aiming to protect Cypriot land and stabilize prices. Committee President Aristos Damianos presented the proposals, emphasizing the need for clear limits on the acquisition of properties by non-Cypriots and foreign-owned companies. The AKEL proposals aim to integrate with other submitted proposals to create a comprehensive legislative framework before the dissolution of Parliament. According to Mr. Damianos, significant convergence has been achieved with the Ministry of Interior and other stakeholders, while criteria such as land area, land use and the protection of critical infrastructure are being considered. The proposed changes include setting a maximum land area that can be acquired by foreigners, prohibitions in agricultural and rural areas, as well as restrictions near camps, beaches and ports. Purchases for residential and commercial spaces will be allowed, but with stricter conditions. Mr. Damianos stressed that the uncontrolled sale of properties to foreigners has led to rising prices and endangers Cypriot land, making the proposed legislation necessary.

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