Strengthening transparency, meritocracy and good governance in the management and allocation of Turkish Cypriot properties remains a firm priority for the interior ministry, it said on Monday.

As part of these efforts, the Turkish Cypriot Properties Management Service has created an online form for submitting complaints and reports concerning the illegal use of Turkish Cypriot properties or other irregularities, available to the public.

The new digital service allows citizens to actively contribute to identifying possible violations through a direct and accessible reporting procedure.

According to the ministry, every complaint or report submitted with the complainant’s name will be examined with due seriousness and attention by the competent officials, with the aim of ensuring legality in the management of Turkish Cypriot properties.

The introduction of the new service forms part of the interior ministry’s broader efforts to modernise procedures and bring about substantial changes in the management of Turkish Cypriot properties by strengthening oversight and accountability mechanisms.

Interior Minister Constantinos Ioannou reiterated the government’s determination to ensure transparency, meritocracy and equal treatment of refugees.

Legislative reform

“Through the legislative reform introduced, the implementation of the new eligibility and points-based assessment system, the intensification of inspections, the termination of contracts, the recovery of properties and the reform of pricing policy, we are consistently moving forward with changing the way Turkish Cypriot properties are managed,” Ioannou said.

The main objective remains the establishment of a fair and reliable management framework that ensures legality, equal treatment of refugees and the protection of the public interest.

The misuse of Turkish Cypriot property has hit the headlines repeatedly in recent years and has been discussed at the House.

The Turkish Cypriot property management service admitted to allocating over 150 million square metres of land to a member of staff, however saying that this was 30 years ago and in line with procedures in place at the time.

In December 2024, evidence was presented linking underworld figures to illegal leasing. Investigations focused on 20 properties, uncovering shell companies generating millions.

Turkish Cypriot properties were placed under state guardianship after the 1974 invasion, with the government allocating abandoned homes and land to Greek Cypriot refugees, although subsequent reforms allowed some properties, particularly in isolated villages, to be leased to non-refugees under specific conditions.

Construction material prices in Cyprus increased for another month in September, with electrical fixtures, plastics and aluminium products recording some of the largest annual rises, according to figures released on Monday by the statistical service (Cystat). 

The price index of construction materials reached 123.41 units, with 2021 serving as the base year set at 100. This represented a 0.26 per cent monthly increase and a 3.74 per cent rise compared with September 2025. 

The annual increase was higher than August’s 3.39 per cent, while the monthly rise also strengthened from 0.07 per cent in the previous month. 

Across the first nine months of 2026, construction material prices were 2.24 per cent higher than during the corresponding period of 2025. 

Metallic products recorded the largest annual increase among the five main categories, rising by 5.28 per cent, followed by products covering wood, insulation materials, chemicals and plastics, which increased by 5.06 per cent. 

The metallic products index stood at 111.72 units, rising by 0.11 per cent from August. Prices were also 2.83 per cent higher during the January-to-September period compared with a year earlier. 

Products made from aluminium and other metals reached 124.03 units. Although prices declined by 0.18 per cent during September, they were still 5.68 per cent higher year on year and 4.75 per cent higher during the first nine months. 

Iron and steel products, meanwhile, increased by 0.26 per cent from August to 106.29 units. Prices were 5.07 per cent higher annually and 1.87 per cent above their average level during the January-to-September period of 2025. 

Prices for wood products, insulation materials, chemicals and plastics reached 126.48 units, increasing by 0.54 per cent from August, 5.06 per cent year on year and 3.10 per cent during the first nine months. 

Within that group, plastic products recorded the strongest annual increase, climbing by 6.43 per cent to 132.48 units. Prices were unchanged from August, while their increase during the January-to-September period reached 5.29 per cent. 

Wood products stood at 128.41 units, rising by 0.48 per cent from August. They were also 5.49 per cent more expensive than in September 2025 and 3.17 per cent higher during the first nine months. 

Insulation materials recorded a monthly increase of 1.73 per cent, reaching 120.73 units. Prices were 2.90 per cent higher annually and 1.46 per cent above their average level during the corresponding nine-month period of 2025. 

Chemical product prices increased by 0.34 per cent during September to 116.64 units. They were also 3.37 per cent higher year on year and 2.05 per cent higher across the January-to-September period. 

Electromechanical products rose by 4.08 per cent year on year, with their index reaching 120.05 units. Prices increased by 0.63 per cent from August and by 2.94 per cent during the first nine months. 

Electrical fixtures recorded the steepest annual rise among all the listed subcategories, reaching 143.59 units after increasing by 1.18 per cent monthly, 8.38 per cent annually and 5.94 per cent during the January-to-September period. 

In contrast, heating and cooling equipment remained unchanged from August at 94.08 units. Prices were 1.70 per cent lower than in September 2025 and 1.24 per cent below their average level during the first nine months. 

Other electromechanical products increased by 0.40 per cent during September to 120.19 units. They were 3.41 per cent more expensive annually and 2.58 per cent higher during the January-to-September period. 

Meanwhile, the minerals category reached 139.52 units, up 0.32 per cent from August, 2.81 per cent year on year and 2.14 per cent during the first nine months. 

Cement prices climbed to 144.87 units, the highest index level among the listed subcategories, after increasing by 0.39 per cent monthly, 4.77 per cent annually and 2.42 per cent during the January-to-September period. 

Mineral aggregate prices were unchanged from August at 138.78 units, although they increased by 0.67 per cent annually and 2.36 per cent during the first nine months. 

Stone prices also increased during September, rising by 0.50 per cent to 132.55 units. They were 1.80 per cent higher year on year and 1.52 per cent above their average level during the corresponding nine-month period of 2025. 

The smallest annual increase among the main categories was recorded in mineral products. Their index stood at 127.94 units, unchanged from August, although prices were 1.35 per cent higher year on year and 0.61 per cent higher during the first nine months. 

Cement products stood at 128.44 units, recording a marginal monthly decline of 0.01 per cent. However, prices were 1.62 per cent higher annually and 1.07 per cent higher during the January-to-September period. 

Ceramics, meanwhile, increased by 0.03 per cent from August to 126.23 units. Prices were 0.42 per cent higher than in September 2025, although their average during the first nine months was 0.95 per cent lower than a year earlier.

Hamptons says figure of 56% is highest in at least a decade, with mortgage rates rising since start of Iran war

A majority of first-time UK buyers now pay more towards their monthly mortgage bills than they used to pay in rent, the estate agent Hamptons has found.

Last month 56% of first-time buyers said their monthly mortgage bills exceeded their previous rent, the highest proportion in at least a decade, according to Hamptons. They paid £39 more on average.

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© Photograph: UCG/Universal Images Group/Getty Images

© Photograph: UCG/Universal Images Group/Getty Images

© Photograph: UCG/Universal Images Group/Getty Images

Property transfers in Cyprus reached €3.72 billion in the first nine months of 2026, while deposited sales contracts rose 14 per cent year-on-year to 14,969, according to figures released by the Real Estate Agents Registration Council.

The figures, drawn from the department of lands and surveys and analysed by the council, show that property market activity continued to grow between January and September, following a strong performance in 2025. 

More specifically, the number of sales contracts deposited nationwide increased from 13,173 during the corresponding period last year to 14,969 in 2026. 

At the same time, the number of completed property transfers rose by approximately 4.1 per cent, while their total value increased by 6.6 per cent to €3.72bn. 

Commenting on the figures, council president Marinos Kyneyirou said that “despite the particular challenges facing the sector this year, the property market continued to support the growth of the Cypriot economy.” 

He pointed out that the increases in both the number and value of transactions were particularly significant, considering that they followed an already strong year for the sector in 2025. 

“Purchasing interest, both from locals and foreigners, remains high, and all signs point to 2026 ending positively for the property sector,” he said. 

He added that the increase in deposited sales contracts was particularly encouraging, as it pointed towards continued market activity and the launch of new development projects in the coming months. 

Nevertheless, Kineyirou reiterated the council’s warning to prospective buyers and tenants to exercise caution when choosing estate agents and to report illegal operators. 

Turning to the performance of individual districts, Limassol maintained its position as Cyprus’ most valuable property market, with completed transfers worth €1.44bn during the first nine months of the year. 

This represented 38.7 per cent of the total value of property transfers nationwide, despite the district recording 3,808 completed transactions. 

Limassol also led the country in deposited sales contracts, reaching 4,860, an increase of 17 per cent compared with the corresponding period of 2025. 

The figures reinforce the district’s importance as a destination for property investment, particularly for larger developments and higher-value projects. 

While Limassol dominated in terms of transaction value, Nicosia recorded the highest number of completed property transfers, with 4,507 transactions during the nine-month period. 

Their combined value reached €811.85 million, placing the capital second nationwide in terms of total transaction value. 

Meanwhile, deposited sales contracts in Nicosia increased by 6 per cent to 3,163, pointing to continued demand in the district, although at a slower rate of growth than in Limassol, Larnaca and Paphos. 

Paphos also maintained a strong position in the property market, recording 2,699 completed transfers worth a combined €755.5m. 

Although the district registered fewer completed transactions than Nicosia, Limassol and Larnaca, their relatively high combined value reflects the importance of higher-value properties in the local market. 

Furthermore, the number of deposited sales contracts in Paphos reached 2,999, representing an 18 per cent increase year-on-year, the strongest percentage growth among Cyprus’ five districts.

A similarly picture emerged in Larnaca, where the value of completed property transfers reached €525.1m across 2,876 transactions. 

However, the district’s most notable performance concerned new sales activity, with deposited contracts climbing 15 per cent to 3,291. 

This placed Larnaca second nationwide in deposited sales contracts, ahead of both Nicosia and Paphos, emphasising the growing level of buyer interest in the district. 

Finally, Famagusta remained the smallest property market in the government-controlled areas, with 874 completed transfers worth €192.8m between January and September. 

Despite its smaller market size, the district also recorded growth in deposited sales contracts, which increased by 5 per cent to 656 compared with the same period last year.