Cyprus continues to attract foreign real estate buyers. As of early July 2025, according to Interior Minister Constantinos Ioannou, 53,076 properties had been transferred to non-EU citizens. An additional 29,089 transactions are in progress and have not yet been finalized.
According to statistics from the Land Department, 1,349 properties were transferred to citizens of third countries in the first seven months of 2025 alone. These figures confirm the stable interest of investors despite global economic uncertainty.
In which Cypriot cities do foreigners most often buy real estate?
The highest concentration of transactions is traditionally found in regions that are attractive to tourists and investors. Paphos remains the leader, having registered 20,755 transactions. Limassol ranks second with 17,083 transactions. Next are Larnaca with 9,175 transactions; the free areas of Famagusta with 3,509; and Nicosia with 2,554.
The largest number of unclosed transactions are in Paphos (9,460) and Larnaca (7,297). Limassol and the free areas of Famagusta have 7,208 and 4,215, respectively. In Cyprus's capital, 899 properties are awaiting registration.
Legislation for buyers from non-EU countries
The acquisition of real estate by foreigners is regulated by the "Law on Alienable Real Estate (for Foreigners) No. 109." According to this law, citizens of third countries, as well as foreign companies or companies under their control, must obtain prior permission from the district administration.
Such permission is granted under special conditions and restrictions. Permission is specifically required for the final transfer of ownership but not for registering a preliminary purchase or assignment agreement in the land registry.
The minister clarified that "acquisition" includes not only purchase agreements but also long-term leases of more than 33 years, acquisition of shares in companies that own real estate, and creation of trusts whose beneficiaries are foreigners.
Special conditions apply to assignment agreements for foreigners.
Special attention is paid to assignment agreements. They are treated as purchase agreements. If the recipient of an assignment agreement is a third-country national, they must obtain official permission at the time of transfer of title.
Currently, the Cypriot cadastral system does not distinguish between assignments based on nationality. Currently, there are 9,746 assignment agreements in force involving Cypriots, EU citizens, and citizens of third countries.
What does this mean for the Cyprus real estate market?
Experts note that the increase in transactions involving third-country nationals reflects Cyprus's high investment attractiveness, particularly in residential and resort real estate. Russians, Chinese, Lebanese, and Middle Eastern investors remain the leaders in demand, actively purchasing apartments and villas in coastal regions.
Additionally, changes in Cyprus's visa and tax policies, including popular residency-by-investment programs, continue to stimulate buyer interest. Foreigners view the real estate sector not only as a way to acquire a second home but also as a means of preserving capital in a stable EU jurisdiction.