The Cyprus Property Developers Association (CPDA) has submitted a draft law to the Ministry of Interior, proposing the formal recognition and regulation of the profession of Property Developer.
The initiative—officially announced by CPDA President Yiannis Misirlis during the Association’s annual gala dinner which took place in Limassol last week —aims to protect both consumer interests and the profession through the introduction of a modern, comprehensive, and functional legal framework.
As noted in a CPDA announcement, in his address, Misirlis emphasised that regulating the profession has become an urgent priority, as it would significantly enhance transparency and trust in the property development sector.
The proposed law sets out clear and objective criteria for practicing the profession, ensuring that individuals involved in the sector demonstrate seriousness, responsibility, and financial reliability.
At the same time, it seeks to strengthen buyer protection by safeguarding consumer rights and reinforcing confidence in the market, contributing to the sound and responsible operation of the industry.
Highlighting that the draft law is the result of several months of dedicated work, Mr. Misirlis noted that its development followed meaningful consultations with the Cyprus Scientific and Technical Chamber (ETEK) and other key stakeholders, multiple meetings with CPDA members, and an in-depth review of legislative frameworks and best practices from other countries.
By formally submitting the proposal to the Minister of Interior, Constantinos Ioannou, the CPDA hopes to engage in constructive cooperation and open dialogue that will support the adoption of this legislation—for the benefit of the sector and property buyers alike.
