Lawmakers are examining ways to curb foreign purchases of land and buildings after new figures showed a sharp rise in property sales to non‑Cypriots in government‑controlled areas.
Parliament’s Interior Committee is awaiting official data from the Interior Ministry, but a briefing submitted by the Association of Assistant Real Estate Agents reported that roughly 18,000 sale contracts were filed with the Land Registry last year.
About 40% involved foreign buyers, including 26% from non‑EU countries.
The briefing also noted uncertainty over the remaining 60% of transactions, saying it is impossible to know how many were made by Cypriot citizens and how many by Cypriot‑registered companies acting on behalf of foreign interests.
Four draft bills before the committee aim to restrict such purchases.
Proposals include limits on the size of land and property that foreigners may buy, bans on sales near sensitive facilities, and requirements that properties be used for at least five years after purchase.