DISY proposes reform of real estate transfer fee legislation in Cyprus

On August 5, 2026, the Democratic Rally (DISY) party in Cyprus officially launched a public consultation process regarding the modernization of legislation governing real estate transfer fees. The proposal, spearheaded by Polys Kourousides, the portfolio manager for the party’s government work monitoring council, aims to replace current valuation methods with a system where the market value of a property is determined by the agreed-upon price of an actual transaction between independent parties, provided it is verified by a licensed appraiser.

Under the proposed framework, the Department of Lands and Surveys would only retain the authority to deviate from the transaction price and reassess the value in specifically justified cases, requiring a reasoned administrative decision. DISY states that this initiative is necessary to foster transparency, predictability, and efficiency in the Cypriot real estate sector, which remains a cornerstone of the national economy, impacting investments, housing policy, and public revenue.

The proposal is currently open for public review, inviting citizens and stakeholders to provide input to improve the fairness of the property tax framework. The move is presented as a strategic effort to adapt the regulatory environment to current economic realities and strengthen market trust.