Cyprus is set to become one of the top five countries for Russian real estate purchases by 2025.
According to a recent report by the consultancy firm NF Group, Cyprus shares the top spot with the United Arab Emirates, Serbia, Greece and Turkey.
Against the backdrop of changes to legislation in other countries, which have restricted or completely closed their 'golden visa' programmes, interest in Cyprus from Russian investors is growing rapidly. The main reason for this is the possibility of legal relocation. NF Group states that all requests from Russians to purchase property in Cyprus are related to obtaining a residence permit.
In other words, the island is increasingly being seen not just as a holiday or investment destination, but as a real and affordable place to live. Cyprus offers one of the simplest and most transparent immigration programmes in the EU. Purchasing property worth €300,000 or more entitles you to apply for permanent residence (category F or Fast Track Permanent Residency).
The process takes between two and six months and does not require you to reside permanently on the island.
Cyprus is also renowned for its stable legal system, high-quality healthcare, English-speaking schools, and international environment. These factors make it particularly attractive to families, entrepreneurs, remote workers and those seeking a quiet haven in Europe.
Until recently, France, Spain and Hungary were the most popular destinations for Russians, offering well-established immigration programmes through investment.
However, in 2025, they dropped out of the ranking because they significantly complicated or completely closed the process of obtaining a residence permit through the purchase of real estate.
Consequently, there was a rapid shift in interest towards more flexible and open destinations, including Cyprus, Serbia and Greece.
Based on the results of the first five months of 2025, the five most popular destinations for Russians to buy real estate are as follows:
- The UAE remains the leader thanks to zero income tax, stability, and high rental yields (an average of 6–8% per annum).
- Serbia is a popular alternative to the EU thanks to its inexpensive housing and simple residence permit application process.
- Greece holds its position thanks to the 'golden visa', which allows free movement within the Schengen area.
- Russians are increasingly buying property in Turkey for personal use, such as permanent residence or seasonal living.
- Cyprus is becoming the number one choice for those who want to move to the EU and provide their families with a European standard of living.
Interestingly, unlike in the UAE, where property is usually purchased for investment purposes, Cyprus is most often chosen for long-term residence. It is an island where you can live all year round, enjoy European standards of education and healthcare, and run a business or work remotely without the pressure of a burdensome tax system.
Although Cyprus does not offer citizenship in exchange for investment, its permanent residence programme remains one of the most reliable and predictable in the region. This is particularly valuable at a time when geopolitical and economic risks dictate a new approach to choosing a second country.