Property and housing regulation in Cyprus and Greece

In Cyprus, the House Internal Affairs Committee has reopened discussions on land acquisition restrictions for third-country nationals. Lawmakers are working to develop a legal formula to prevent foreign-owned companies registered in Cyprus from being treated as local entities to avoid unequal treatment. Interior Minister Konstantinos Ioannou noted that existing legislation already restricts natural persons, such as prohibiting land acquisition outside development limits to protect agricultural land and vital infrastructure. The committee intends to finalize a text for the Plenary by early October.

In Greece, the Ministry of Climate Crisis and Civil Protection has launched a digitized framework for housing assistance following natural disasters via the ‘e-Licenses’ platform. This reform provides beneficiaries with increased flexibility, allowing them to use aid for new constructions, completing unfinished properties, or as a one-time payment to purchase a different ready-to-use home, rather than being restricted to repairs.

Additionally, the Greek Ministry of National Economy and Finance has extended the deadline for citizens to apply to purchase occupied public lands to September 11, 2027. Under Law 5024/2023, applicants must demonstrate continuous possession for at least 30 years with a title, or 40 years without one, provided the property meets specific usage criteria and has been declared in E9 tax records for at least five years. Applications are submitted electronically via Taxisnet with a 300 euro fee that can be offset against the purchase price. While the requirement for an existing building has been removed, the purchase of properties with unauthorized structures remains prohibited.