Half of Real Estate Transactions in Cyprus Involve Foreign Buyers

Over the past two years, foreign nationals, including those from the EU and third countries, have accounted for approximately 50% of all real estate purchases in Cyprus. This highlights the trust placed in the local market and underscores that market conditions would be vastly different without their participation.

In addition to investing in real estate, foreign investors are diversifying into other sectors such as retail, forex, and technology, making significant contributions to Cyprus’ economic growth.

In 2024, the number of real estate transactions in Cyprus increased by 1% compared to 2023, showcasing the market’s resilience to challenges such as inflation, high-interest rates, and regional instability. Projections for 2025 indicate similar levels of activity from both domestic and international buyers.

Notably, Larnaca climbed to the third spot for transaction volume, surpassing Paphos, with 3,350 transactions, a 5% increase. This growth has been driven by strong interest from investors from Israel, Lebanon, Russia, and Ukraine, alongside factors like competitive pricing, proximity to the airport, and investments in new hotels, shopping centers, and the 2.5 km Larnaca-Dhekelia coastal development.

Limassol continues to lead in transaction volume, while Nicosia has seen a significant rise in domestic buyer activity, indicating that Cypriot investors remain a vital force in supporting the market.