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The First in the World: Australia Bans Social Media for Under-16s

In a groundbreaking move, Australia’s Senate has approved a ban on social media access for children under 16. The law, which imposes strict fines on non-compliant companies, aims to safeguard young users’ well-being but has sparked debate over its practicality and potential consequences.

Key Facts

  • Legislative Milestone: The bill passed Australia’s Senate by a vote of 34 to 19 on Thursday, following overwhelming support in the House earlier this week.
  • Strict Compliance Timeline: Social media companies have one year to block under-16 users or face fines of up to $33 million.
  • Government Backing: Prime Minister Anthony Albanese hailed the law as a global first, emphasizing its role in protecting young people from social media’s harmful effects.

A Divisive Policy

While the law has garnered praise for its child-centric focus, critics argue that its rushed implementation might create logistical challenges. Detractors, including social media firms, have pointed to unresolved technical issues and potential unintended consequences.

  • Proponents’ Perspective: Albanese stressed that the law shifts responsibility to platforms, holding them accountable for safeguarding children. “Social media has a social responsibility,” he said, addressing parents’ concerns about the impact on young users’ mental health and self-esteem.
  • Industry Concerns: Companies like Google, Meta, and TikTok have called for delays, citing gaps in age verification systems and the risk of broader implications for all Australian users. Elon Musk described the bill as a possible “backdoor to control internet access.”

Broader Context: Global Efforts to Protect Children Online

Australia’s ban may be the strictest yet, but other nations are also taking steps to regulate children’s online activity:

  • United States: The Children’s Online Privacy Protection Act (COPPA) mandates parental consent for data collection from users under 13.
  • European Union: The Digital Services Act prohibits personalized advertising targeting minors and enforces stricter online protections for children.

Key Takeaway

Australia’s new law sets a precedent in tackling the challenges of social media’s impact on youth, but its execution will be closely watched as the global conversation on children’s online safety evolves.

Cyprus Residential Market Surpasses €2.5 Billion In 2025 With Apartments Leading the Way

Market Overview

In 2025, Cyprus’ newly built residential property market achieved a remarkable milestone, exceeding €2.5 billion. Data from Landbank Analytics indicates robust activity countrywide, with newly filed contracts reaching 7,819, including off-plan developments. This solid performance underscores the market’s resilience and dynamism across all districts.

Transaction Breakdown

The apartment sector clearly dominated the market, constituting 81.6% of transactions with 6,382 deals valued at €1.77 billion. In contrast, house sales represented a smaller segment, encompassing 1,437 transactions and generating €737.9 million. The record-high transaction was noted in Limassol, where an apartment sold for approximately €15.2 million, while the priciest house fetched roughly €6.2 million.

Regional Analysis

Nicosia: The capital recorded steady domestic demand with 2,171 new residential transactions. Apartments accounted for 1,836 deals generating €349.6 million, compared to 335 house transactions worth €105.5 million, anchoring Nicosia as a core market with average values of €190,000 for apartments and €315,000 for houses.

Limassol: As the island’s principal investment center, Limassol led overall activity with 2,207 transactions. Apartments dominated with 1,936 sales generating €824.1 million, while 271 house transactions added €157.9 million. The district enjoyed premium pricing, with apartments averaging over €425,000 and houses around €583,000.

Larnaca: This district maintained robust activity with a total of 2,020 transactions. The apartment segment realized 1,770 transactions worth €353 million, and houses contributed 250 deals valued at €96.3 million. Average prices hovered near €200,000 for apartments and €385,000 for houses, positioning Larnaca within the mid-market bracket.

Paphos: With a more balanced mix, Paphos completed 1,078 transactions. Ranking second in overall value at €503.2 million, the district saw house sales generate €287.8 million and apartments €215.4 million. Consequently, Paphos achieved the highest average house price at approximately €710,000 and an apartment average of €320,000, emphasizing its premium housing profile.

Famagusta: Distinguished by lower transaction volumes, Famagusta was the sole district where house sales outnumbered apartment deals. Out of 343 transactions, 176 involved houses (yielding €90.4 million) and 167 were apartments (at €32.4 million). The segment’s average prices were about €194,000 for apartments and over €513,000 for houses, signaling its focus on holiday residences and coastal developments.

Sector Insights and Forward View

Commenting on the report, Landbank Group CEO Andreas Christophorides remarked that the analysis demonstrates an ecosystem where apartments are the cornerstone of the real estate market. He emphasized, “The apartment sector is not merely a trend; it is the engine powering the country’s real estate market.” Christophorides also highlighted the diverse regional dynamics: Limassol leads in apartment pricing, Paphos commands premium house prices, Nicosia remains pivotal to domestic demand, Larnaca sustains competitive activity, and Famagusta caters to holiday home buyers.

In a market characterized by these varied profiles, informed monitoring of regional and sector-specific dynamics is crucial for investors aiming to make targeted and strategic decisions.

Uol
The Future Forbes Realty Global Properties
Aretilaw firm
eCredo

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