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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.

doValue Cyprus Strengthens Market Leadership With New Astrobank Portfolio

Expanding Market Influence

Loan and real estate management firm doValue Cyprus has significantly reinforced its domestic presence in non-performing loan servicing by acquiring a new portfolio from Astrobank Public Company Limited. This development follows Astrobank’s recent transition, marked by the transfer of key operations to Alpha Bank Cyprus Limited and the subsequent surrender of its banking licence.

Strategic Acquisition And Swift Execution

Finalized on November 3, 2025, the agreement underscores a decisive strategic shift as doValue Cyprus assumes management of Astrobank’s remaining portfolio. The immediate commencement of portfolio management is a testament to the firm’s commitment to delivering specialized, resilient solutions within the non-performing loan market.

Expertise Driving Market Growth

Chief Executive Officer Varnavas Kourounas emphasized that the latest portfolio acquisition not only expands the firm’s operational footprint but also validates its credibility and deep expertise in the competitive Cypriot financial sector. The strategic move is aligned with the broader growth ambitions of the doValue Group.

Broader Market Implications

Operating as part of the international doValue Group—the largest independent loan and real estate management organization in Southern Europe—doValue Cyprus is well-positioned to leverage its newly expanded portfolio. With approximately €136 billion in assets under management, the group maintains a dominant presence across Italy, Greece, Spain, Portugal, and Cyprus. Moreover, its subsidiary, Altamira Real Estate, runs Cyprus’ largest real estate platform, managing extensive property portfolios alongside the island’s most comprehensive sales network.

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