George Coucounis

The issue of trapped buyers has concerned thousands of citizens for many years. These are individuals who purchased immovable property, fulfilled their contractual obligations, paid the purchase price, yet were unable to secure a title deed.

The procedure for winding up a company on the grounds of inability to pay its debts constitutes a powerful, yet highly regulated tool for creditors. It is not a simple debt collection mechanism, but a measure with serious consequences for the very existence of the company.

Whenever the Middle East enters a period of tension, the same assumption almost automatically resurfaces: that Cyprus will become an immediate recipient of capital inflows and that the real estate market will rise almost by default. Reality, however, is more complex and far less dramatic than this simplified narrative suggests.

The proper functioning of the market presupposes that contracting parties comply with the legislative framework governing the exercise of professional activities. Particularly in regulated sectors, such as insurance, the legality of the activity is not merely a formal requirement but an essential condition for the creation of rights and obligations.

Cyprus tourism is facing a profound transformation that is reshaping the entire structure of the market. The period when holidays were booked months ahead of summer, allowing businesses to forecast the season with relative certainty, appears to belong to the past. In its place, a different model is emerging, one in which travelers are making decisions increasingly closer to their departure dates.

Artificial intelligence has long ceased to be merely a promise of technological progress. It has already become embedded in the core of economic activity, influencing the way decisions are made in banks, businesses, insurance organisations, and professional services.

The protection of immovable property is a fundamental principle of Cypriot law. Trespass upon land constitutes a serious infringement of the right to possession and enjoyment of property and entitles the affected owner to seek judicial protection.

The legislation protecting trapped buyers was enacted to remedy a serious and long-standing distortion in the real estate market. Many purchasers, despite having paid the purchase price in full and complied with their principal contractual obligations, remained without title deeds for years due to omissions, financial difficulties or other outstanding issues affecting the vendor or the development itself.

A passenger departs from Larnaca for Brussels and arrives at the destination four hours later than scheduled. Another learns at the airport that their flight has been cancelled, while a family misses a connecting flight due to a delay in the first leg of their journey.

August 3 marks the end of an era for thousands of Cypriot citizens who still hold the well-known, old-style blue identity cards. From that date onwards, these identity cards will no longer be recognised as valid travel documents for journeys within the European Union and the Schengen Area, as they do not comply with the new security standards established at European level.