The Cypriot property market has attracted a substantial number of foreign buyers in recent years, with official data from the Department of Lands and Surveys revealing over 37,000 properties sold to non-Cypriot buyers between 2021 and the end of 2024. These transactions include both EU citizens and non-EU nationals, while during the same period, Cypriots purchased more than 200,000 properties.
According to figures submitted to the House of Representatives by Interior Minister Constantinos Ioannou, UK nationals are among the most prominent buyers in Cyprus, consistently ranking at the top across all districts. Other key foreign buyers include Russians, Israelis, Greeks, and Lebanese.
Breakdown by District and Nationality
Nicosia: Greeks, Britons, and Australians Take the Lead
In the capital, Greek nationals secured the most properties, acquiring 1,626 units, followed by UK nationals with 1,584 purchases. Australians ranked third, purchasing 545 properties. Despite foreign interest, Cypriots overwhelmingly dominate the Nicosia market, holding 98,205 properties compared to 5,236 owned by foreigners.
Limassol: A Hub for Russians, Britons, and Israelis
Limassol remains a hotspot for Russian buyers, who led the market with 2,561 property acquisitions. UK nationals followed closely behind with 1,840 purchases, while Israeli investors acquired 1,154 properties. In total, foreign buyers purchased over 8,500 properties, while Cypriots acquired 62,460 properties in the same timeframe.
Paphos: A Popular Choice for Britons, Russians, and Israelis
UK nationals continued their strong presence in Paphos, acquiring 4,483 properties, while Russians purchased 1,563 and Israelis secured 1,291 properties. Foreign nationals made over 10,000 acquisitions, compared to 28,484 by Cypriots.
Larnaca: Lebanese, Britons, and Israelis Among Top Buyers
In Larnaca, UK nationals led with 2,743 properties, followed by Lebanese investors (1,744 properties) and Israelis (1,406 properties). Over 8,500 foreign buyers invested in Larnaca’s real estate market, while Cypriots acquired 33,819 properties.
Famagusta: Interest from Britons, Greeks, and Lebanese
In Famagusta, UK nationals topped the list with 1,182 purchases, while Greek and Lebanese investors followed with 165 and 131 properties, respectively. Although foreign demand is present, Cypriots remain the dominant buyers, securing 16,966 properties over the four-year period.
A Growing International Market
The data highlights a steady international interest in Cyprus real estate, with British, Russian, Israeli, Greek, and Lebanese buyers playing a significant role in the market. Despite fluctuations, Cyprus remains an attractive destination for foreign investment.
Source: www.news.cyprus-property-buyers.com