The first figures from the buying and selling of immovable land and real estate by foreigners in free Cyprus are frightening, while the sales in the occupied territories remain unknown.
The Parliament's Interior Committee is awaiting the official data from the Ministry of Interior.
According to a note filed by a representative of the Association of Assistant Realtors in Parliament, last year approximately 18,000 sales documents were filed in the Land Registry, of which 40% concern foreign buyers, with 26% being nationals of third countries.
It is also reported that no one can say with certainty whether the remaining 60% really concern Cypriot citizens, or Cypriot corporations, behind which foreign interests are hidden.
The deputies with four proposals of law attempt to limit the markets.
Among other things, the proposals provide for a limitation in the area of purchase of land and real estate, a ban on sales near critical services and a mandatory use of the real estate for at least five years.
Source: RIK Radio/Panagiotis Kaparis
PAF/AKO
