Larnaca apartment owners allege illegal utility connections and unauthorised lettings

The Management Committee of a Larnaca apartment complex has raised a series of complaints, alleging illegal electricity and water connections, apartments being used without owners’ consent, overcrowded and unauthorised occupation, and threats against committee members.

In a statement dated 2 October, the Committee said its members, as the legal owners of apartments and other premises, were deeply concerned about incidents and conditions they say are taking place in shared and other areas of the buildings.

Among the allegations are that apartments are being occupied under forged, invalid or illegal tenancy agreements, without the consent of their lawful owners. The Committee also claims that third parties are letting out apartments and collecting the rental income without the owners’ permission.

The statement refers to suspected money laundering through the collection of rent by people who are not entitled to receive it, as well as the alleged illegal sale of electricity and water.

The Committee also alleges that electricity is being connected unlawfully, either directly to meters or through external cables running from one apartment to another. It says the Electricity Authority of Cyprus (EAC) inspected the connections and deemed them dangerous.

Other complaints concern alleged illegal connections to the water supply network, water theft, and the supply or sale of water from one meter to other apartments.

Committee members have also received threats, according to the statement. The Committee claims that illegal connections have been restored after being disconnected with the help of the water supply authority and the EAC. It also alleges that some people have shouted at and intimidated residents.

The Committee said it had already filed a police complaint against named individuals, while apartment owners had also made complaints and continued to do so.

Structural checks and building repairs planned

Working with the Larnaca District Local Government Organisation (DLGO), the Committee has appointed a civil engineer and begun laboratory tests to assess the structural condition of the buildings, it said.

It has also taken steps, following recommendations from the DLGO, to protect residents and passers-by from falling render. Repairs and renovations are being planned, according to the statement.

The Committee argues that the alleged unauthorised use of spaces, overcrowding, unapproved occupation and possible interference with shared or private infrastructure raise serious concerns about safety, hygiene, public order and property protection.

It has called on the relevant authorities to investigate the complaints fully and without delay, stop any unlawful activity and prosecute those who, it alleges, are financially exploiting other people’s property or trading in water and electricity.

The Committee is also seeking checks on whether the use and occupation of the buildings is lawful, and on electrical and plumbing connections that it says are removed and then reconnected. It has called for all necessary measures to protect the safety, health and property of lawful owners and residents.

The Committee stressed that the owners’ protest is not directed at any national, racial or religious group. It said the dispute concerns the lawfulness of occupation, safety, the proper management of the buildings and the rights of lawful owners and users.

Translated and adapted from an article published by StockWatch

Limassol property developments: what’s in the pipeline?

Limassol is changing fast. New homes, offices, resorts and schools are reshaping the city and its surroundings as the area attracts businesses, investors and international residents.

The latest projects point to a broader shift in how Limassol is developing. Alongside residential and commercial schemes, new education and leisure facilities aim to serve a growing population and support the city’s economic expansion.

New schools

CoolSide Development and GEMS School Management are planning an international school in Pyrgos. The environmental information report submitted by CoolSide estimates an investment of €40 million for a nursery-to-secondary school, including sports facilities. The school is intended to serve up to 1,875 students.

Plans for Fasouri School set out three units, from pre-primary to secondary level, designed for a combined 4,500 students in Kato Polemidia.

A separate proposal by the Yael Foundation’s €50+ million investment plan in the Polemidia area outlines a school for up to 1,500 students, with a planned opening in 2027.

Limassol Mall planned for Agios Athanasios

The Council of Ministers approved the plan for a new Limassol Mall in July. The scheme is planned for the Agios Athanasios area, with the Nicosia Mall shareholding group and Papantoniou Group behind an estimated €95 million investment.

Mixed-use developments

On Limassol’s waterfront, the former KEAN soft drinks factory site is being redeveloped by bbf: with architects at UHA (an international architecture and design practice). The mixed-use scheme is planned to include two residential towers, two commercial towers and a retail plaza, alongside amenities such as cafés, restaurants, a gym and a spa.

Leptos Group’s Limassol Blu Marine, near the marina, is another major beachfront project. It comprises four towers: two residential and two for offices. Its residential buildings include the 35-storey Poseidon Tower and Cavalli Tower, named in connection with a €200 million collaboration between Roberto Cavalli and Leptos Group.

Further inland, proposals and developments include Imperio Properties’ Silicon Park in Agios Athanasios, with two office buildings and three serviced residential buildings.

A separate mixed-use plan by SolidVes Ltd and Eraclis Papachristou Architects includes a 15-floor residential building with 75 apartments and a 16-floor office building.

YOO Limassol is a coastal project in Pyrgos, spearheaded by Property Gallery and designed by YOO with creative director Philippe Starck. The beachfront villas and apartments about 50 metres from the sea, within a project area of 118,384 square metres.

Londa Residences is a luxury residential scheme in Germasogeia, transforming the Londa hotel into beachfront residences. Designed by Thierry Lemaire, the development includes a gym, spa and swimming pool. Completion is expected within the year.

Golf resorts and a changing waterfront

Leisure-led projects are also part of the city’s expansion. Limassol Greens, designed by AECOM, is an integrated golf and residential development west of the city, set across 1.4 million square metres of landscaped area. Its facilities include villas, apartments, a clubhouse and a wellness centre.

Aristo Developers’ Eagle Pine Golf Resort is planned to feature an 18-hole championship course, an 80-room boutique hotel, 1,000 residences and retail space.

Imperio Skyline is a gated residential community in the Germasogeia hills. It features 70 residences, including apartments, houses and villas, with amenities such as a swimming pool, gym, co-working areas and a residents’ lounge.

On the waterfront, Property Gallery’s AURA is planned as a mixed-use development combining luxury residences with services and amenities. Construction is expected to begin in 2027. The company says it aims for AURA to become the tallest building in Cyprus and the wider Mediterranean; that is a project ambition, not an independently verified outcome.

Together, the schemes show how Limassol’s property market is extending beyond homes and offices. Schools, leisure facilities, retail and resident services are increasingly prominent in plans for the city’s next phase of growth.

Cyprus property boom: who are we building homes for?

The 8.5% rise in home prices in the second quarter of 2026 is bound to attract attention. For a buyer in the Cyprus property market, though, the question is simpler: can I still afford a home in the area where I want to live? For an investor or developer, there is another pressing question: am I building what the market will need in five years’ time?

Whenever prices rise, the conversation turns to overseas buyers. International demand certainly affects the Cyprus property market. Its influence, however, varies by district, neighbourhood and type of home. A holiday-home buyer, a family moving to Cyprus for work and an investor seeking rental income all have different needs. We cannot plan housing supply as if they were one group.

Strong demand alone does not explain why a young couple may struggle to find a suitable home. Land prices, construction costs, the time it takes to complete a project and the types of homes developers choose to build all affect the final price and availability.

The Cyprus property market needs a clearer picture

In my view, Cyprus needs a more precise understanding of the gap between housing supply and demand. It is not enough to know how many sales took place or how many new homes received planning permission. We need to know where those homes are, how large they are, what they will cost and which households they are intended to serve.

That analysis should be broken down by area and price range. A new luxury development and a flat within reach of a working household serve different parts of the market. Both have a place in a healthy economy. Yet when the homes on offer do not match the incomes of people who live and work here, an increase in building activity will not automatically solve the housing problem.

For developers, this is also a business opportunity. The right decision does not start with, “How many square metres can I build?” It starts with, “Who will this property serve, and at what price can they realistically buy or rent it?” Investors, meanwhile, need to look beyond district-wide averages and assess the specific local market and its capacity to absorb new homes.

Cyprus has every reason to remain attractive to international buyers and businesses. It has just as strong a reason to ensure that growth creates homes and long-term rental options for the people who support its economy every day.

That will be the real measure of the market’s success in the years ahead: not simply how far prices rise, but whether new homes meet the needs of each city’s residents.

By Andreas Ph. Christophorides MRICS, Founder & CEO of the Landbank Group
Translated from an article published by the Landbank Group

Cyprus house prices rose 5.46% and rents 4.05% in the second quarter of 2026

Cyprus house prices rose more sharply than rents in the second quarter of 2026, according to Eurostat’s latest housing statistics. The country’s house-price index stood 5.46% higher, while the rent index was up 4.05%. The figures place Cyprus among EU markets where purchase prices are rising faster than rental costs.

The comparison comes as housing costs continue to rise across Europe. In the EU, house prices were 4.7% higher in Q2 2026 than in the same quarter a year earlier, while rents rose by 3.0%. Compared with Q1 2026, house prices rose by 1.2% and rents by 0.7%.

Cyprus house prices and rents show different growth

Eurostat’s country comparison shows that house prices outpaced rents in 18 EU countries with available data. The largest house-price gains were in Bulgaria, Portugal and Lithuania. Finland and France were the only countries where house prices declined. Rents, by contrast, increased in every EU country. Romania, Croatia and Slovenia recorded the strongest rental increases.

For Cyprus, the gap between house prices and rents points to a stronger rise in the cost of buying a home than in measured rents. That distinction matters to households weighing whether to buy or rent, and to investors comparing potential capital growth with rental income. However, Eurostat’s housing statistics track price movements; they do not report typical sale prices or monthly rents, and the national figures do not show how trends differ between cities, districts or property types.

The housing statistics covers residential properties purchased by households, including new and existing homes. Its rent data come from harmonised consumer price statistics for actual rentals. The measures therefore describe different parts of the housing market and should be read separately, even when considered side by side. The indices cannot measure household affordability directly.

The latest release shows that both buying and renting costs moved higher in Cyprus, with house prices rising faster in the reported comparison. The European figures provide useful context, but they cannot indicate what a particular home should cost or what a tenant will pay in a specific neighbourhood. Buyers, landlords and renters still need to assess local supply, property condition and location when making decisions.

Source: Eurostat’s Q2 2026 release and its linked Statistics Explained article and country data.

Cyprus house prices rose 7.9% year-on-year

Cyprus house prices rose by 7.9% in the second quarter of 2026 compared with a year earlier, according to a preliminary estimate from the Cyprus Statistical Service (CYStat).

The index reached 105.46 points, based on a 2025 benchmark of 100. It also rose 2.4% from the first quarter, according to CYStat’s estimate.

The latest figures show a sharp rise over the year, although the route was not steady. The index fell in Q2 2025, then rose in Q3, held almost flat in Q4, and increased in each of the first two quarters of 2026.

How the index moved quarter by quarter

Quarter House Price Index Change from previous quarter Annual change
Q2 2025 97.74 -1.8% +2.9%
Q3 2025 101.35 +3.7% +4.2%
Q4 2025 101.34 0.0% +6.0%
Q1 2026 102.95 +1.6% +3.4%
Q2 2026 105.46 +2.4% +7.9%

The index started the period at 97.74 points in Q2 2025, after a 1.8% quarterly fall. It then rebounded by 3.7% in Q3, reaching 101.35 points.

In Q4 2025, the index was virtually unchanged at 101.34 points. Despite that pause, the annual rate of growth increased to 6.0%, reflecting the comparison with the corresponding quarter a year earlier.

The index resumed its quarterly rise in 2026. It increased by 1.6% in Q1, then accelerated to 2.4% in Q2. The annual growth rate, which had eased to 3.4% in Q1, climbed to 7.9% in the latest quarter.

New and existing homes both rise in Q2

The report also tracks separate indices for new and existing homes.

Quarter New homes Existing homes
Q2 2025 96.26 100.84
Q3 2025 101.71 100.59
Q4 2025 102.06 99.82
Q1 2026 103.25 102.51
Q2 2026 105.73 105.10

The new homes index rose in every quarter after Q2 2025, from 96.26 points to 105.73. The existing homes index slipped over the second half of 2025, falling from 100.84 to 99.82, before rising to 105.10 by Q2 2026.

Between Q1 and Q2 2026, the new homes index increased from 103.25 to 105.73. The existing homes index also rose, from 102.51 to 105.10.

What do the figures mean?

The national index shows that Cyprus house prices strengthened in the latest quarter and stood higher than a year earlier. However, it is a measure of overall price movement, not the cash price of a typical home. It does not break down changes by region, property type or budget.

As the Statistical Service describes the Q2 2026 estimate as preliminary, buyers and sellers should treat it as a broad market indicator, rather than a valuation for an individual property.

Source: Statistical Service of the Republic of Cyprus, “House Price Index (HPI): 2nd Quarter 2026”, published 30 September 2026.

Cyprus lawyer faces 14 charges over €185,000 estate funds

A 47-year-old lawyer in Cyprus, who has not been named, has been referred to the Limassol Criminal Court to face 14 charges linked to the alleged theft and laundering of €185,000 from an estate she was appointed to help administer.

The case was referred for direct trial on 29 September, following instructions from the Legal Service. The accused appeared before the District Court for the referral proceedings. She remains free under restrictive bail conditions and is required to provide a €100,000 financial guarantee.

According to the charge sheet, the 14 offences relate to theft by an agent and money laundering. The Limassol Criminal Court has scheduled a hearing for November.

The allegations stem from a police complaint concerning the administration of the estate of a deceased Russian national. The complaint alleges that, around the middle of 2023, the lawyer was appointed by the Limassol District Court as a co-administrator of the estate. In that role, she was acting as a representative of the estate.

The money at the centre of the case reportedly belonged to the deceased’s heirs and was held in a bank account. The accused is alleged to have transferred a total of €185,000 online to an account belonging to her company on several different dates. According to the complaint, she did not have lawful authority to make those transfers.

The charges have not been proven in court. The matter is now due to be heard by the Assize Court, where the allegations will be examined.

Although the police complaint was made in 2023, instructions to bring the case before the courts were issued only recently. The accused was then summoned to the District Court for the referral process, before the case was sent directly to the Assize Court.

The lawyer has previously come to the attention of the authorities in connection with alleged offences of a similar nature. She had faced an earlier criminal case before the Criminal Court. That case was suspended after she repaid all the claims made by the complainants.

The new proceedings concern a separate alleged transfer of funds and will be considered on their own evidence. The next significant date is the hearing scheduled for November.

By Ioanna Mantzipa
Adapted from an article published by philenews