Why this matters for property buyers and investors
If you are buying property in Cyprus, the estate agent you deal with may be operating in a legal grey area. That is the warning from the Cyprus Real Estate Agents Association (Skek), which says the current legal framework leaves room for unlicensed or poorly regulated agents to undercut legitimate businesses.
For international buyers and investors, this means extra caution is needed when choosing an agent. A properly licensed and regulated agent is more likely to follow transparent procedures, hold your deposit correctly, and provide accurate information about title deeds, taxes and planning permissions.
What Skek is asking for
Skek, which is part of the Cyprus Chamber of Commerce and Industry (Keve), held a press conference in early 2025 to present its concerns. The association has sent letters and proposals to the president, ministries, parliament and independent authorities, but says many issues remain unresolved.
The main demands include:
- Clear rules for assistant estate agents – their registration, licensing and employment status need a proper legal basis that aligns with labour law.
- Modernisation of estate agency legislation – the current law is outdated and does not reflect today’s market conditions or offer adequate consumer protection.
- Fair competition – legitimate agents should not be undercut by unlicensed or semi-legal operators.
- Transparency and accountability – any new framework must be based on clear, consistent rules applied equally to all.
- Reassessment of the Cyprus Real Estate Agents Registration Council – its powers and procedures need updating.
Skek president Christos Nicolaou said: “We are not asking for privileges or special treatment. We are asking for legality, equality before the law, transparency, respect for the rights of professionals and protection of legitimate business activity.”
What this means for you as a buyer or investor
When the legal framework is weak, the risk of encountering an unqualified or unethical agent increases. This can affect you in several ways:
- Deposit protection – a licensed agent should hold client money in a separate client account. An unlicensed agent may not.
- Title deed delays – poor advice from an unqualified agent can lead to buying a property without a clear title deed, a common problem in Cyprus.
- Hidden costs – agents who do not follow the rules may fail to disclose transfer fees, VAT or capital gains tax liabilities.
- Residency applications – if you are buying property to qualify for a residency permit, the property must meet specific criteria. An unregulated agent may give incorrect advice.
Skek says it is committed to tackling illegal agency activity and defending professional standards. The association wants a structured dialogue with a clear timetable, not more letters and meetings.
Background: estate agent regulation in Cyprus
Estate agents in the Republic of Cyprus are required to be registered with the Cyprus Real Estate Agents Registration Council. However, enforcement has historically been patchy. Some agents operate without proper registration, and the rules for assistants and sub-agents are unclear.
The current corporate income tax rate in Cyprus is 15% for tax years from 1 January 2026 (it was 12.5% before). This change may also affect property investment structures, so it is worth discussing with a tax adviser.
If you are considering property in the north of Cyprus (the area administered by Turkish Cypriot authorities), be aware that title deed risks are significant. The Republic of Cyprus does not recognise land registrations there, and legal ownership disputes are common. Always seek independent legal advice before committing to any purchase in that region.
Key takeaways
- The Cyprus Real Estate Agents Association warns that legal gaps are harming legitimate agents and consumers.
- Reform is needed for assistant agent licensing, modernisation of the estate agency law, and fair competition.
- As a buyer or investor, choose a fully licensed agent and verify their registration with the Cyprus Real Estate Agents Registration Council.
- Always use a Cyprus lawyer to check title deeds, contracts and tax implications before signing anything.
- For property in the north, the title deed risks are high and the Republic of Cyprus does not recognise those registrations.