Trapped Property Buyers in Cyprus One Step Closer to Relief
New Unified Bill Nears Vote in House Plenary
The Parliamentary Legal Affairs Committee reached key agreements on Wednesday during the article-by-article discussion of a bill aimed at amending legal provisions for the protection of trapped property buyers.
Following the session, AKEL MP Aristos Damianou stated that the committee had achieved broad consensus on crucial unresolved issues, including access to justice, the proof of debt repayment, and procedural deadlines before the Land Registry and the courts.
“Through dialogue, we were able to bridge gaps, and today the committee worked on a unified version of the bill, which will undergo legal vetting by the end of the day and is expected to be brought before the House Plenary as soon as possible,” Damianou said.
Damianou added that significant progress had been made in the part of the bill addressing trapped buyers due to financial reasons, and that the issue could be resolved “within the next few weeks.”
He clarified that approximately 4,000 trapped buyers fall under the financial category, while another 6,000 cases remain trapped due to urban planning obstacles. Efforts are ongoing to address those cases with urgency as well.
When asked by reporters, Damianou expressed confidence that the bill would reach the Plenary before the summer recess.
DIPA MP Michalis Yiakoumi also confirmed that consensus had been reached following consultations with the Ministry of Justice. He noted that the process is moving quickly toward finalization and parliamentary approval.