Breaking news

New Legislation on Daily Rentals: A Step Forward for Cyprus Real Estate?

by News Editor

May 16, 2025

The Cyprus Real Estate Agents Registration Council has warmly welcomed recent initiatives aimed at legislating daily property rentals. These regulatory steps were discussed during a House commerce committee session, focusing on bolstering the framework for self-catering accommodations and implementing penalties.

This comes at a critical time when the council has voiced concerns on how short-term rentals could potentially hike rental prices by reducing the supply of long-term housing. This legislative move seeks to address such challenges while emphasizing quality and safety standards in accommodations.

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With tourists increasingly turning to daily rental properties, issues like planning zone violations and unregistered accommodations, resulting in possible tax losses, have surfaced. Such discrepancies highlight the need for regulation to protect Cyprus’ tourism reputation.

“We are pleased to see more support from various organizations and members of parliament in tackling these daily rental challenges,” said Marinos Kineyirou, President of the Council. Forward-looking legislative measures are paramount for safeguarding consumer interests, maintaining our property market’s health, and preserving Cyprus’ tourism image.

For more insights into how Cyprus real estate is evolving, read about Cyprus joining the Schengen Area and its impact on investment.

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Greek Tankers Transit Hormuz As Shipping Risks Rise In Gulf And Black Sea

by THEFUTURE.TEAM

March 16, 2026

Two tankers linked to George Prokopiou passed through the Strait of Hormuz as regional tensions continue to affect shipping routes in the Gulf.

Safe Passage Through Hormuz

The tanker Smyrni, operated by Dynacom Tankers Management, was observed off the coast of Mumbai on Saturday morning after its earlier positioning in the Persian Gulf. The vessel, like its predecessor Shenlong, temporarily disabled its transponder during transit, a common practice in these narrow channels under uncertain conditions.

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Robust Market Commitments

Despite reduced shipping traffic through the strait, Dynacom has continued expanding its fleet. The company recently ordered four additional VLCC tankers from Hengli Heavy Industry. Each vessel will have a capacity of 300,000 deadweight tonnes. With the new order, Dynacom’s VLCC program in Chinese shipyards now totals 16 vessels.

Security Incident In The Black Sea

In a separate incident, the Greek-flagged tanker Maran Homer sustained minor damage near Novorossiysk in the Black Sea. The vessel is operated by Maran Tankers Management, part of the shipping group controlled by Maria Angelicoussis.

Reports indicated the ship was struck by a missile or drone about 14 nautical miles from the port. The crew of 24, including Greek, Filipino and Romanian sailors, was not injured. The vessel, which was not carrying cargo, continued sailing under its own power.