Thousands of property buyers in Cyprus—both local and foreign—may soon see their long-awaited relief, as a groundbreaking bill moves closer to approval. These individuals paid for properties long ago but never obtained legitimate title deeds due to unresolved developer mortgages or planning complexities.
Over the years, many buyers found themselves stuck in bureaucratic red tape. Despite making full payments, they faced obstacles like developer debt or disputes with financial institutions. Now, the Ministry of the Interior and Parliament are collaborating to resolve the legal limbo faced by around 8,000 affected buyers.
Interior Minister Constantinos Ioannou has worked with the Parliamentary Legal Affairs Committee to finalize a draft law that provides a clear path to securing title deeds. Although the exact criteria remain under wraps, the proposal includes strong safeguards to protect buyers and ensure mortgages or planning issues do not permanently block their ownership rights.
Stakeholders from all sides—including banks—are reviewing the bill, which is expected to reach the House of Representatives soon. If passed, it would unlock property ownership for thousands who have waited for years or even decades.
In tandem, the government has introduced a planning amnesty until 15 June to handle unauthorized extensions or minor infringements. This opportunity isn’t limited to homes; it covers various property types, including commercial buildings and restaurants. For those still on the market for Cheap Apartments for Sale Cyprus or seeking Houses for Sale in Cyprus, proper documentation is crucial to avoid future legal hurdles.
MP Michalis Yiakoumi recently emphasized the urgency, noting that buyers are “paying for the sins of others.” He believes the final version of the bill will encompass as many trapped individuals as possible. With substantial political and public support, the legislation is poised to conclude this longstanding issue once and for all—provided the banking sector fully agrees.
For thousands living in limbo, this bill could mark the turning point—transforming them from “trapped” homeowners into rightful title deed holders at last.
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