The Cyprus Property Developers Association this week welcomed progress in drafting a modern legal framework for co-owned buildings, saying it would address long-standing problems and improve residents’ quality of life. 

The association highlighted the Interior Ministry’s work on the Management of Co-Owned Buildings and Related Issues Law of 2023 and the start of parliamentary discussions as “important steps towards completing and passing the bill as soon as possible”.

It added that the “adoption of an updated framework is both a necessity and a priority”.

The association explained that “comprehensive legislation is expected to resolve persistent distortions, safeguard the rights of owners and tenants, and allow the smooth functioning of shared properties”.