A bill submitted by AKEL Secretary General Stefanos Stefanou on tighter regulation of foreign land and property acquisition is set to reach the House plenary on 2 April.
As discussed in the Interior Committee, the text seeks to remove provisions that allow indirect property acquisition without Council of Ministers approval and to introduce stricter control mechanisms.
Committee chair Aristos Damianou said deliberations produced a unified draft that appears to have majority prospects, with convergence also reported on key points with the executive branch.
The proposal includes restrictions on the purchase and transfer of forest and agricultural land by foreigners, and special safeguards for properties near the ceasefire line and critical infrastructure zones such as ports, airports and military facilities.
It also introduces objective and transparent criteria for limited exceptions involving smaller land plots. During debate, attention was drawn to the significant share of transactions involving third-country nationals in recent years.
