The Parliament of the Republic of Cyprus is currently evaluating a bill that would mandate the involvement of lawyers in real estate sales and rental agreements. Proponents of the bill believe it will enhance the legal safety of these transactions, but realtors are opposed to its implementation.
The Cyprus Registration Council of Realtors (SEK) has urged the parliament to retract this bill, claiming it infringes upon the professional rights of real estate agents. SEK argues that it violates a fundamental principle of the Cypriot Constitution, which allows individuals and businesses to enter into private transactions without third-party interference.
Realtors in Cyprus caution that requiring lawyers to be part of real estate deals could erode trust in private law and would lead to higher costs for all involved—tenants, buyers, and property owners.
They emphasize that legal assistance in property transactions is a costly service and warn that this new law could not only increase the financial burden on consumers but also make housing less affordable, particularly amid rising prices.