Legislative proposal for the management of common-ownership buildings in Cyprus

Following the election of the new House of Representatives, the advancement of the 'Law on the Management of Common-Ownership Buildings and Related Matters of 2023' has been identified as a legislative priority. A significant portion of Cyprus's housing stock consists of multi-unit buildings and common-ownership developments. Many of these properties currently face severe maintenance and management challenges, leading to building degradation and potential safety risks for residents. The current legislative framework is considered outdated and incapable of addressing modern market requirements. Specific issues include difficulties in collecting common expenses, a lack of effective control mechanisms, and operational failures within management committees. These obstacles prevent timely decision-making and essential repairs. Advocates argue that the proposed 2023 legislation is necessary to modernize operational procedures and ensure building safety. The new parliament is expected to address these reforms to mitigate the long-term deterioration of residential infrastructure.