Cyprus realtors are concerned about the emergence of illegal trainees and complain of administrative delays.

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With an intransigent stance, the Council reaffirmed its willingness to immediately cease all cooperation or support of unauthorized entities. Upon receiving complaints or discovering illegal activities that harm the real estate industry, the Council promised immediate action to stop them. Moreover, the Council stressed that "licensed real estate agents have a duty not only to supervise their employees, but also to ensure the proper functioning of their properties. " "In addition, they must provide buyers and tenants with full information about the physical and legal characteristics of the property," it added.

In a supplementary document addressed to licensed estate agents, the Council''real estate, as well as wherever it is found'.

The real estate industry fears delays.

In the meantime, in a separate statement, the Cyprus Council for the Registration of Real Estate Agents recently lamented the delays that now characterize the construction industry on the island. "Unfortunately, in our experience and feedback from our board members, the processes involving various government bodies suffer from significant delays," said Kinheiro, noting that "these delays, in turn, lead to delays in agreements and transactions".

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"For example, real estate sale and transfer procedures that used to be completed within a day now take much longer," the council president added.

The Council President''said critical services such as the Land and Survey Department, the Tax Department and various financial institutions "must adapt to the new situation". He urged them to coordinate their efforts and execute the necessary actions more quickly to ensure that real estate-related transactions are completed within a reasonable time frame. "Financial institutions in particular require complex and time-consuming procedures, especially for investors from third world countries, resulting in the cancellation of real estate transactions," Kineyiro said. "The accumulating delays, especially in recent years due to the introduction of new software systems, are significantly affecting the industry," he added.

What's more, Kinneiro explained that given that a significant portion of the''funds from the Cyprus Recovery and Sustainability Plan are being allocated to projects to upgrade the technological infrastructure in the public sector, it is important to ensure that part of these funds are allocated to optimize the operational processes of the aforementioned departments. "This optimization is essential as it will allow the real estate industry to develop within the framework of a modern economy without any obstacles," concluded Kinheiro.

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