Philenews

Real Estate Near the Green Line: Proposed Laws Close Loopholes for Uncontrolled Purchases by Third-Country Nationals

Published January 13, 2026, 05:10
Real Estate Near the Green Line: Proposed Laws Close Loopholes for Uncontrolled Purchases by Third-Country Nationals

The government is promoting legislative changes to control the purchase of real estate by third-country nationals, particularly in areas near the green line. The proposed laws, being discussed in the parliamentary Internal Affairs Committee, aim to prevent uncontrolled property purchases, including cases where this is done through companies. Specifically, the acquisition of forest or agricultural land and properties adjacent to the ceasefire line is prohibited, while purchases are limited to one apartment or house. The proposed changes clarify that companies controlled by foreigners are not exempt from the restrictions and abolish provisions that allowed the acquisition of large areas of land. Furthermore, approval from the Council of Ministers will not be required for the purchase of small properties (apartments up to 200 sq.m., houses up to 200 sq.m., offices up to 300 sq.m.). The explanatory report emphasizes the need to strengthen the legality control and transparency in the acquisition of properties by foreigners, as well as to prevent indirect purchases through companies or assignments. The definition of a “company controlled by foreigners” is expanded to include organizations with foreign beneficial owners, in accordance with the law on the prevention and combating of money laundering. Overall, these proposals represent an effort to curb the uncontrolled inflow of capital from foreigners into the real estate market, protect agricultural land and the green line area, and ensure transparency in transactions.