Cyprus authorities want to make online rental property more clear
Due to the increasing tourist attractiveness of Cyprus, housing demand is growing rapidly. Many tourists prefer to stay in an apartment, rather than in a hotel room while relaxing because it is more comfortable for them. In this connection, the authorities of the Republic of Cyprus intend to withdraw the property rental market from the shadows.
Following the new bill, owners of real estate in Cyprus intended for the rental must necessarily register the apartment, house, villa or another type of property in the national registry. The short-term rental procedure, for example, through the Airbnb website will become more transparent and will protect tourists from illegal transactions. […]
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