Affordable housing or unchecked investment?

Affordable housing in Cyprus is not threatened by development itself, but by the absence of effective preventive control over property acquisitions by third-country nationals. In the vast majority of cases, such acquisitions are not made for owner-occupation but for investment purposes, generating upward pressure on prices and rents and, ultimately, undermining social cohesion.

The acquisition of immovable property by third-country nationals has evolved into one of the most decisive factors shaping the Cypriot housing market.