CySEC Withdraws Licences And Oversees RAIF Liquidations

Regulatory Reforms And Strategic Decision-Making

The Cyprus Securities and Exchange Commission (CySEC) has announced a series of regulatory actions affecting investment firms and alternative investment funds operating in Cyprus. Recent decisions include licence withdrawals and the launch of liquidation procedures for several entities under its supervision.

TTCM Traders Trust Capital Markets Ltd License Withdrawal

CySEC withdrew the Cyprus Investment Firm (CIF) licence of TTCM Traders Trust Capital Markets Ltd (authorisation number 107/09) following the company’s request to renounce its licence. The decision was taken on May 14, 2026, under section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05.

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Conotoxia Ltd Faces Regulatory Repercussions

On June 5, 2026, CySEC also withdrew the CIF licence of Conotoxia Ltd (licence number 336/17). According to the commission, the company failed to meet several regulatory requirements, including provisions relating to governance, board member suitability, management oversight and organisational arrangements. Conotoxia’s licence had been suspended since July 23, 2025. CySEC instructed the company to remove references to its investment services authorisation and regulatory status from its websites and other digital platforms.

Liquidation Processes In The RAIF Sector

CySEC also reported developments involving Registered Alternative Investment Funds (RAIFs). On June 4, 2026, AIFCAP Managers Ltd informed the commission that dissolution and liquidation procedures had begun for ANABAZA RAIF V.C.I.C Ltd under article 138(7)(a) of the Alternative Investment Funds Law of 2018. The fund will remain on the register with an “under liquidation” designation until the process is completed.

Separate liquidation procedures have also been initiated by Argus Management Ltd for compartments CASCADE 5 and CASCADE 6 of CASCADE INVESTMENT FUND RAIF V.C.I.C. Ltd. Both compartments will retain their “under liquidation” status until all regulatory requirements and documentation have been completed.

Ongoing Supervisory Efforts

The latest actions form part of CySEC’s supervision of investment firms and alternative investment funds operating in Cyprus. Recent licence withdrawals and liquidation proceedings highlight the regulator’s continued focus on compliance with licensing, governance and operational requirements across the financial sector.

The Future Forbes Realty Global Properties

Athens And Nicosia Still Offer Some Of Europe’s Most Affordable Apartments, Despite Rising Prices

by THEFUTURE.TEAM

July 13, 2026

Housing costs in Nicosia remain well below those in most western European capitals, according to new data from Global Property Guide, highlighting the wide gap in residential property prices across Europe.

Nicosia And Athens Remain Among Europe’s More Affordable Capitals

The latest figures from Global Property Guide, which tracks residential property markets across 88 countries, show that both Nicosia and Athens remain among Europe’s more affordable capital cities, despite years of steady price growth.

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In Cyprus, the median asking price for a one-bedroom apartment in Nicosia stands at €145,000. Two-bedroom apartments are priced at €205,000, while three-bedroom homes reach €280,000.

That places Nicosia slightly above Athens in the one-bedroom category, where the Greek capital records a median asking price of €135,000. For two-bedroom and three-bedroom apartments, however, prices are identical in both cities at €205,000 and €280,000, respectively.

Western Europe Commands A Premium

Athens also remains relatively affordable by European standards. Median asking prices for one-bedroom apartments reach €174,000 in Warsaw, €240,000 in Madrid, €310,000 in Milan and €325,000 in Berlin.

The gap is even more pronounced in Western Europe, where one-bedroom apartments cost around €440,000 in both Paris and Lisbon, more than three times the price seen in Athens.

The difference becomes even greater for larger homes. A three-bedroom apartment carries a median asking price of €280,000 in both Athens and Nicosia, compared with €685,000 in Lisbon, €690,000 in Milan, €845,000 in Berlin and €1.08 million in Paris.

For two-bedroom apartments, the contrast is equally striking. While homes are priced at €205,000 in Athens and Nicosia, equivalent properties cost €380,000 in Madrid, €455,000 in Milan, €527,000 in Berlin, €620,000 in Lisbon and €695,000 in Paris.

Europe’s Most Expensive Property Markets

Global Property Guide’s data also highlights the wide variation in residential property prices across Europe.

Zurich is the continent’s most expensive market for a one-bedroom apartment, with a median asking price of €1.151 million. It is followed by Luxembourg (€669,000), Copenhagen (€601,000), Munich (€548,000) and London (€522,000), while Paris and Lisbon are both priced at around €440,000.

The Most Affordable Cities

At the other end of the market, the lowest asking prices are concentrated in south-eastern and eastern Europe. Median asking prices for a one-bedroom apartment stand at €125,000 in Riga, €118,000 in Podgorica, €110,000 in Bucharest, €103,000 in Sarajevo and €79,000 in Chisinau.

According to the report, Skopje is Europe’s most affordable capital for one-bedroom apartments, with a median asking price of just €55,000.

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