By Yiannis Misirlis
In every housing cycle, markets search for a villain. Today, in Cyprus, the spotlight has turned toward foreign, particularly non-European, buyers. The policy response now under discussion, namely stricter limitations on property sales to non-Europeans, reflects a familiar instinct: when prices rise and affordability tightens, constrain demand.
It is an instinct that is politically understandable but economically misguided.
The evidence, both international and local, points to a
