The Cyprus Real Estate Agents Registration Board is working hard to stop illegal activity in the property market.
Marinos Kinehiru, the head of the agency, said this on Tuesday, 6 May.
He said that in 2024, the Board got hundreds of complaints about illegal brokerage activities. These complaints came from licensed agents and citizens, as well as inspectors working throughout Cyprus. After the investigations, a lot of people and businesses were put on trial, which shows how big the problem is and how people don't trust the island's property market.
Kinehiru said that Cypriot courts have started about 400 criminal cases against people who have broken Law 71( iodine) 2010–2017. At the same time, 125 people (35 companies and 90 people) have been found guilty of illegally providing brokerage services. There are still lots of cases waiting to be heard in court. The head of the Council said that the names of those convicted are published on the official website of the agency — ktimatomesites.com — to inform the public.
The Council for the Registration of Real Estate Agents takes strict action against illegal activities. We can only protect the profession and the interests of honest citizens by strictly controlling and punishing those who break the rules. Every year, we make the inspection department stronger, both in terms of numbers and professionalism. We urge all citizens to cooperate exclusively with licensed agents. Before any transaction, it is necessary to make sure that the agent has the right licence. A true professional will not refuse to confirm their status. Remember: if you work with an illegal agent, there is a risk to your transaction and it is also a criminal offence that carries legal consequences, said Kinegiu.
You can check if an agent is legit in a few ways:
- Go to ktimatomesites.com
- Call 22 666 377
- Email info@ktimatomesites.com
- Fax 22 518 490