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Unlocking the Puzzle for Stranded Property Buyers In Cyprus

by News Editor

May 2, 2025

This May, significant clarity is expected on the legislative resolution concerning stranded property buyers in Cyprus. Legislative and executive bodies have been navigating a legal impasse ignited by a Court of Appeals decision last summer that declared the existing law unconstitutional, further exacerbating challenges for these buyers.

What’s Next for Stranded Buyers?

Next week, the parliamentary Legal Affairs Committee is set to deliberate on a new law proposal designed to protect these buyers. There is consideration of introducing legal provisions to release properties from financial entrapment, particularly for buyers who have settled all dues yet remain indebted due to systemic issues. Additionally, the bill aims to streamline the processing of requests at the Land Registry for these 9,497 trapped buyers.

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Temporary Respite and Future Challenges

Banks and credit acquisition firms have responded positively to extend the freeze on foreclosures until July’s end, giving legislators time to devise comprehensive solutions. This comes as the last stand; creditors agree to stall auctions temporarily to facilitate cooperative negotiations.

The legal intricacies of these cases underline the complexities inherent in navigating Cyprus’s real estate market, highlighting a critical need for informed legislative reform.

The Future Forbes Realty Global Properties

Cypriot Government Employment Sees Modest Growth in April

by THEFUTURE.TEAM

May 12, 2025

Total government employment in Cyprus increased by 237 persons, a rise of 0.4 per cent, in April, compared to the same month in 2024, reaching a total of 55,490 employees, according to the state statistical service.

Employment in the civil service and the security forces decreased by 1.2 per cent and 1.1 per cent respectively, while the educational service saw an increase of 3.8 per cent.

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Civil Service and Educational Service Breakdown

In April 2025, the civil service employed 11,960 permanent staff, 4,141 employees with contracts of indefinite duration, 1,458 with contracts of definite duration, and 5,798 hourly paid workers.

Permanent employees represented the highest proportion of the civil service workforce at 51.2 per cent, while employees with contracts of definite duration made up the lowest proportion at 6.2 per cent.

In the educational service, there were 12,461 permanent employees, 947 with contracts of indefinite duration, 4,824 with contracts of definite duration, and 141 hourly paid workers.

Permanent staff formed the majority of the educational workforce at 67.8 per cent, while hourly paid workers accounted for only 0.8 per cent.

Security Forces Breakdown

Within the security forces, 8,430 were permanent employees, 4,304 held contracts of indefinite duration, 267 were on definite-duration contracts, and 759 were hourly paid workers.

Permanent employees again made up the largest group in the security forces at 61.3 per cent, with definite-duration contracts representing just 1.9 per cent.