House plans to restrict foreign nationals from buying real estate.

Cyprus's Parliament aims to pass legislation by May to restrict real estate acquisition by foreign nationals. This involves amending current laws deemed outdated and easily circumvented. Proposed bills include prohibiting land registry approval for sales violating the new restrictions. The initiative responds to a surge in property purchases by non-EU nationals, linked to geopolitical events. Measures discussed involve time limits on purchase applications and restrictions in sensitive zones.