Breaking news

Modernizing Land Administration: Government Unveils Significant Reforms

In a decisive move to enhance administrative efficiency, Cyprus’ Ministry of Interior has embarked on a transformative initiative set to overhaul the Department of Lands and Surveys (DLS) by 2026. This comprehensive reform aims to modernize procedures, simplify basic services, and promote transparent, sustainable real estate management.

Reimagining Real Estate Management

Interior Minister Constantinos Ioannou underlined the government’s objective to rationalize land administration practices. Central to this effort is a restructured method for calculating transfer fees. Traditionally determined by comparative sales, the existing model often led to discrepancies and disputes. The proposed shift to basing fees on declared prices, consistent with taxation standards, is expected to foster greater transparency and provide early cost certainty for buyers, while still allowing for market assessments when necessary.

Embracing Digital Transformation

The reform strategy also includes a robust digitalization plan. Approximately 150 forms used by the Land Registry will be redesigned and incrementally transitioned to an online platform. Accompanied by detailed guides and standardized templates for essential documents, such as powers of attorney and inheritance certificates, this digital push is designed to reduce bureaucratic delays, lower operational costs, and lessen the administrative burden on both citizens and staff.

Resolving Long-Standing System Challenges

Addressing historical inefficiencies is a key component of the reform. The longstanding backlog related to co-owned indivisible properties and right-of-way applications—where nearly 1,700 cases remain unresolved—will be targeted with new procedures. Initiatives include establishing a unified auction system, revising payment terms, and creating specialized teams for access requests to accelerate processing times and support real estate development.

Enhancing State Land Oversight

Parallel legislative efforts aim to modernize state land management, introducing clearer leasing criteria, stricter regulatory oversight, and potentially competitive bidding for leases. This initiative is designed to ensure that state properties are leased under fair market conditions, safeguarded against underpriced allocations, and managed with enhanced transparency.

Collectively, these reforms are set to redefine the operational landscape of Cyprus’ land administration, ensuring that modern, streamlined, and transparent practices underpin critical government services.

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
eCredo
The Future Forbes Realty Global Properties
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter