Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020
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Legal Matters

Law regulating self-catering rentals enacted

The law regulating Airbnb and other self-catering accommodation rentals in Cyprus has been enacted requiring their owners to follow a set of regulations and formalities to legally provide their services.

New rent law contains grey areas

Although the rent law has been changed so that tenants now have to prove they've paid the rent to be able to defend their case in court, the amended law still contains some grey areas.

Is the Cyprus justice system broken?

Recent court cases have raised questions about the Cyprus justice system with a recent survey among Limassol-based lawyers highlighting their views on a number of key questions.

Stripping citizenship of 26 investors problematic

The process of stripping citizenship from 26 foreigners who obtained Cypriot passports is proving difficult as passports for naturalised investors cannot be revoked according to the law.

Law regulating Airbnb rentals passed

A bill to regulate the rentals of self-catering accommodation by owners through online platforms like Airbnb and booking .com was passed by MPs earlier today, covering both new and existing accommodation.

Law to evict tenants to parliament

Amendments to the rent control law making it easier for landlords to start the process of evicting tenants who fail to pay their rent will be presented at a plenary session of parliament on Friday.
Cyprus Supreme Court

Radical justice reforms on the way

The government is determined to introduce radical reforms to the justice system to do away with lengthy delays and restore confidence among quality investors turned-off by the legal labyrinth.
home foreclosure

Bank foreclosure: outline of the legal framework

The procedure by which banks in Cyprus foreclose on property is often confusing and the law misinterpreted; Christiana Achilleos, a Senior Litigation Lawyer, provides an outline of the legal framework.

Eviction of non-paying tenants to be made easier

The eviction of tenants who deliberately fail to pay their rents or who fall into arrears should be made easier next month when amendments to the Rent Control Law are passed by parliament.

Trapped buyers bill changes approved

The revised 'trapped buyers' bill designed to overcome the problems of the current law has been approved unanimously by MPs, but legal services have doubts that constitutional difficulties could not be resolved.
Cyprus agreement impossible

EDEK wants to freeze all repossessions

Political party 'Movement of Social Democracy' (EDEK) is planning to table proposals to freeze all repossessions by the banks as an extra safeguard for vulnerable homeowners who won't be covered 'Estia'.

Trapped buyers law changes discussed

A bill aimed at improving the 2015 trapped buyers law, which was successfully contested by the banks as being unconstitutional in the lower courts is being discussed by the House Legal Affairs Committee.

Discussions completed on Airbnb bill

MPs have completed their discussions on the bill aimed at regulating Airbnb-style short-term property lettings and hope it will go before the plenum of the house before the summer recess.

Cyprus in court over waste water management

The European Commission has taken Cyprus to the European Court of Justice for its failure to properly treat urban waste water from agglomerations with a population of more than 2,000 inhabitants.

Cyprus hotels pushing for Airbnb legislation

The Cyprus Hotel Association is pressing MPs to pass a bill regulating Airbnb type rentals that has been on the table for nearly a year to combat what hoteliers consider as unfair competition.

Airbnb-style rental law faces major issue

A bill designed to regulate Airbnb-style short-term property rentals is almost ready to be put to the vote, but one issue has to be resolved; the ease with which owners would be able to rent out apartments.

Cyprus let off the hook

Following Cyprus' action to abrogate the law requiring lawyers to charge a minimum fee for out-of-court work, the EC has closed infringement proceedings against Cyprus and an antitrust investigation.

More time needed on Airbnb bill

The approval of a proposed bill designed to regulate and tax rental income on an estimated 40,000 Airbnb type rentals has been delayed as MPs said they needed more time iron out some issues.

UK nationals’ residency rights post-Brexit

The Cyprus Interior Ministry has published a document explaining the residency rights for UK nationals and their family members following the Brexit withdrawal agreement between the EU and the UK.
Landlord and tenant dispute in Cyprus

Proposals to modernise rent laws

Legislation proposed by Cypriot MPs aims to overhaul and modernise outdated rent legislation and make procedures more effective when tenants fail to meet their contractual obligations.

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Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.

Historic collapse of property sales

Property sales in Cyprus have collapsed as a result of the coronavirus pandemic to a level only seen once before when the events of March 2013 made Cyprus a household name around the world.

Building permits maintaining strong growth

The number of building permits authorised in Cyprus during February 2020 provided for the construction of 680 new homes; an increase of 18 per cent compared to February 2019 according to official figures.

Cyprus passport programme under fire again

The Cyprus citizenship by investment programme, which enables well-heeled foreigners to obtain an EU passport for investments of at least €2 million, has come under fire again from the European Union.

You have insurance but are you insured?

The heavy winter rains have resulted in many insurance claims but as many have found to their horror, although their insurance premium has been paid, they discover that they're not insured when they make a claim.