Cyprus’ parliament is preparing to discuss new rules that would make it harder for non-EU citizens to buy property, following growing concern about large land purchases and the use of companies to get around existing laws.
The proposals, submitted by AKEL general secretary Stefanos Stefanou, will be reviewed by the House interior committee. They are aimed at stopping what is described as uncontrolled foreign property buying, especially when purchases are made through companies rather than directly by individuals.
Under the proposed changes, non-EU buyers would no longer be allowed to purchase forest or agricultural land, property near the ceasefire line, or sites linked to critical infrastructure. They would also be limited to buying just one home, either an apartment or a house.
Importantly, the rules would treat companies controlled by foreign nationals the same as individual foreign buyers, closing a common loophole that allows multiple properties to be bought through company structures.
The proposals also set clear size limits for properties that would not need special government approval: one home of up to 200 square metres, or one office of up to 300 square metres.
It is important to note that, even if these changes are approved, foreign buyers would still be able to purchase property in Cyprus. The aim is not to block genuine buyers, but to prevent misuse of the system that has been observed in certain areas, particularly in Larnaca and Limassol. Buyers looking for a home or a legitimate investment would continue to have clear and legal options to do so.
