MEP Fidias Panayiotou has courted more controversy, this time after his remarks about Israeli nationals buying up property in Cyprus drew condemnation from the Israeli ambassador.

The story was picked up by a number of Israeli media outlets, including Ynet, the Jerusalem Post and Maariv.

In a recent video, filmed against the backdrop of the parliament building in Nicosia, Panayiotou, standing for MP in the upcoming elections, said that in recent years there has been a sharp increase in foreign investment in Cyprus, with a significant portion of it coming from Israelis, especially in real estate.

“The problem is that we are close to being dependent on Israeli investments for our economy to function,” Panayiotou said, adding that purchases of entire villages and gated residential complexes create ‘bubbles’ that are inaccessible to the average Cypriot.

Panayiotou said the problem lies not only in the identity of the investors, but in corruption and a lack of government oversight.

He said the government grants approvals without adequate checks to large investment companies, which are sometimes presented as Cypriot but are in fact run by Israelis. He warned that the situation is leading to rising rents for local youth and threatens the “character of the island.”

Despite the caveats, Israeli Ambassador to Cyprus Oren Anolik later described Panayiotou’s comments as “deeply concerning”.

“The relationship between Israel and Cyprus is built on a foundation of shared values, mutual respect and a strong friendship,” Anolik wrote on X.

“When political discourse utilises age-old stereotypes regarding ‘foreign economic power’ to incite fear, it enters dangerous territory.”

The ambassador went on to accuse Panayiotou of fueling antisemitism, saying his comments were “baseless” and carried “an undertone of prejudice that should have no place in a modern, democratic European nation”.

Anolik went on to call on Cypriot officials to condemn the comments.

Diko leader Nicholas Papadopoulos also censured Panayiotou in a post on social media.

“Anti-semitic hate speech for the sake of populism is unacceptable, reprehensible and damaging to our country.”

A well-known YouTuber, the 26-year-old Panayiotou is also the leader of the newly-founded Direct Democracy party, contesting the upcoming parliamentary elections.