The Cyprus Real Estate Registration Council has urged the immediate ban of daily property rentals to safeguard consumers, stabilize the real estate market, and maintain the quality of the country’s tourism sector. This request was presented during Tuesday’s session of the House Committee on Energy, Commerce, Industry, and Tourism, as stated in a press release issued by the Council on Wednesday.

The Council’s delegation emphasized that the surge in short-term rental properties has reduced the availability of long-term rental housing, contributing to rising rental prices.

Additionally, the Council highlighted concerns over the lack of regulatory oversight, which has allowed misleading advertisements regarding property conditions and amenities. This has resulted in visitor dissatisfaction and negatively impacted Cyprus’s reputation as a tourist destination.

Another major issue raised was the absence of a clear regulatory framework, which has enabled individuals to operate as unregulated real estate agents for long-term rentals. These activities, conducted without proper oversight or adherence to required standards, expose consumers to significant risks, including financial exploitation, lack of legal protection, and questionable transactions.

The Council stressed the urgent need for strict operational regulations to ensure transparency, transaction security, and the smooth functioning of the real estate market. It called on the government to implement a comprehensive regulatory framework with clear safety standards and an effective enforcement mechanism. Such measures, the Council argued, would ensure fair treatment across all sectors while protecting both consumers and the integrity of the real estate industry.