New Legislative Efforts to Modernize Jointly-Owned Buildings Management in Cyprus

The Cyprus Parliament has resumed crucial discussions on a comprehensive bill aimed at regulating jointly-owned buildings, including apartment complexes and housing estates. The objective is to finalize and pass this legislation before the current parliamentary session concludes, addressing longstanding issues faced by thousands of residents.

Why Change is Needed: Challenges with Existing Legislation

AKEL MP Aristos Damianou, chair of the Parliamentary Committee on Internal Affairs, emphasized that although legislation on jointly-owned properties has existed for years, it has lacked real-world enforcement. Important provisions, such as forming management committees, were largely neglected, resulting in ongoing difficulties.

The freshly drafted 80-page bill reflects detailed technical input. However, Damianou cautions that even the most carefully prepared laws are ineffective unless practical enforcement is ensured, a key point that remains under active debate.

Building on Earlier Proposals and Stakeholder Input

DIPA MP Marinos Moushouttas reminded that the government initially presented a version of this bill in 2023, but it was referred back for further refinements following consultations with property owners and other stakeholders. The current draft merges three proposals focused on strengthening management committee roles and clarifying their legal authority.

It’s noteworthy that Cyprus hosts approximately 200,000 jointly-owned buildings, accommodating nearly 50% of the population. Yet, common pitfalls—such as unpaid communal fees, neighbor disputes, and inadequate maintenance—persist, prompting urgent action.

Key Provisions of the New Bill

The bill aims to ensure fair financial contributions from all owners and tenants while setting clear responsibilities. Interior Minister Constantinos Ioannou highlighted that along with this bill, Parliament will also debate a related law targeting dangerous buildings, including safety hazards like deteriorating balconies.

The proposed legislation includes:

• Defined rights and duties for all property owners and tenants.
• Mandatory creation of a Reserve (Sinking) Fund to cover unscheduled repairs and ongoing maintenance.
• Expanded powers and responsibilities for management committees to improve governance.
• Compulsory insurance coverage for entire buildings as well as individual units.

Ioannou pointed out that unpaid communal fees and lack of insurance have compromised building safety, putting residents and the public at risk. The Minister expressed hope that consensus among MPs and stakeholders will facilitate swift adoption of the law.

What This Means for Property Buyers and Residents

The new legal framework promises to make jointly-owned buildings safer and better managed, enhancing property values and living standards. Homeowners and tenants alike should stay informed as the bill progresses.

For prospective buyers interested in the Cypriot property market, understanding these legislative changes is vital—especially when exploring options such as cheap apartments for sale in Cyprus or affordable houses and villas. These laws will affect how communal areas are maintained and funded, impacting overall investment security.

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