Foreign Investment Surge: Over 37,000 Properties Sold to International Buyers in Cyprus
37000 Properties Sold – The Cypriot real estate market has witnessed a remarkable influx of foreign investment in recent years, according to official data from the Department of Lands and Surveys. Between 2021 and the end of 2024, more than 37,000 properties were acquired by foreign nationals, including both EU citizens and individuals from third countries. During the same period, property transactions among Cypriots surpassed 200,000.
Key International Buyers and Regional Trends
United Kingdom Leads Foreign Acquisitions
UK nationals consistently dominate property purchases across all districts, securing the top spot among foreign buyers. They are closely followed by Russians, Israelis, Greeks, and Lebanese nationals, reflecting a diverse range of international interest in Cyprus’s real estate sector.
Nicosia: A Hub for Greeks, Britons, and Australians
In the capital, Nicosia, Greek nationals lead with 1,626 property acquisitions, comprising 272 through sales agreements and 1,354 completed sales. UK nationals follow closely with 1,584 properties, while Australians rank third with 545 acquisitions. Despite foreign interest, Cypriots maintain a stronghold with 98,205 properties compared to 5,236 held by foreign nationals.
Limassol: Preferred by Russians, Britons, and Israelis
Limassol has emerged as a hotspot for Russian investors, who purchased 2,561 properties, including 1,269 through sales agreements. UK nationals acquired 1,840 properties, and Israelis secured 1,154. Cypriots remain dominant with 62,460 property transactions, though foreign acquisitions exceed 8,500 properties.
Paphos: A Magnet for British Buyers
In Paphos, UK nationals lead with 4,483 property purchases, followed by Russians with 1,563, and Israelis with 1,291. Over 10,000 properties were acquired by foreign nationals, while Cypriots completed 28,484 transactions during the same period.
Larnaca: Attracting Lebanese, Britons, and Israelis
UK nationals also top the list in Larnaca with 2,743 acquisitions. Lebanese buyers follow with 1,744 properties, and Israelis with 1,406. Foreign nationals purchased 8,535 properties in Larnaca from 2021 to 2024, compared to 33,819 by Cypriots.
Famagusta: Dominated by Britons, Greeks, and Lebanese
In Famagusta, UK nationals again lead with 1,182 properties, while Greeks and Lebanese acquired 165 and 131 properties, respectively. Cypriots continue to dominate with 16,966 property purchases versus just over 2,000 by foreign buyers.
A Growing International Appeal
These statistics underscore Cyprus’s growing appeal as a real estate destination for foreign investors, with the UK, Russia, Israel, Greece, and Lebanon standing out as key markets. The diverse range of buyers highlights the island’s strategic position and attractive investment climate in the Mediterranean region.
Article Inspired by Nigel Howarth
