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15th February 2025
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Who is buying property in Cyprus?

The number of properties across all districts that have been bought by foreign nationals in recent years is significant, according to official figures provided by the Department of Lands and Surveys.

Based on figures submitted to the House of Representatives by Interior Minister Constantinos Ioannou, more than 37,000 properties have been sold to foreign buyers – including EU citizens and nationals from third countries – between 2021 and the end of 2024. During the same period, property sales to Cypriots exceeded 200,000.

UK nationals appear to lead in property acquisitions in Cyprus, consistently ranking among the top buyers across all districts. Russians, Israelis, Greeks, and Lebanese also rank highly among foreign nationals buying property in the country.

The Interior Minister provided the House of Representatives with detailed data on foreign property purchases, broken down by buyer nationality and district, following a request by independent MP Alexandra Attalidou.

Greeks, Britons, and Australians dominate in Nicosia

In Nicosia, Greeks top the list of foreign property buyers from 2021 to 2024, securing 1,626 properties. This includes 272 properties based on sales agreements and 1,354 from completed sales.

UK nationals follow, purchasing 1,584 properties (31 based on sales agreements and 1,555 through completed sales). Australians rank third, acquiring 545 properties, with 7 based on sales agreements and 538 through completed sales.

Cypriots continue to dominate the capital’s property market, holding 98,205 properties, compared to 5,236 held by foreign nationals.

Russians, Britons, and Israelis favour Limassol

In Limassol, Russians lead foreign property purchases with 2,561 acquisitions (1,269 through sales agreements and 1,292 from completed sales). UK nationals rank second with 1,840 properties (141 via sales agreements and 1,699 from sales), followed by Israelis with 1,154 properties (643 via sales agreements and 511 through completed sales).

Cypriots made 62,460 property purchases in Limassol during the same period, while foreign buyers acquired over 8,500 properties.

Paphos attracts Britons, Russians, and Israelis

In Paphos, UK nationals lead with 4,483 property purchases (290 through sales agreements and 4,193 from completed sales). Russians follow with 1,563 properties (666 via sales agreements and 897 through sales), while Israelis rank third with 1,291 properties (424 via sales agreements and 867 from completed sales).

In total, more than 10,000 foreign nationals purchased property in Paphos, compared to 28,484 acquisitions by Cypriots.

Lebanese, Britons, and Israelis interested in Larnaca

UK nationals also top the list in Larnaca, purchasing 2,743 properties (122 via sales agreements and 2,621 through sales). Lebanese nationals follow with 1,744 properties (958 through sales agreements and 786 via sales), while Israelis come third with 1,406 properties (925 through sales agreements and 481 via completed sales).

In Larnaca, 8,535 foreign nationals purchased property over the four-year period, while Cypriots acquired 33,819 properties.

Britons, Greeks, and Lebanese lead in Famagusta

Finally, in Famagusta, UK nationals again lead foreign purchases with 1,182 properties (139 through sales agreements and 1,043 via completed sales). Greeks follow with 165 properties (35 based on sales agreements and 130 through sales), and Lebanese nationals rank third with 131 properties (58 via sales agreements and 73 from completed sales).

Cypriots remain the primary property buyers in Famagusta, acquiring 16,966 properties over the past four years, compared to just over 2,000 acquisitions by foreign nationals.

These figures highlight the growing interest of foreign nationals in Cyprus real estate market, with the UK, Russia, Israel, Greece, and Lebanon being the most prominent countries of origin for buyers.

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