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Russians Accounted For Half Of Foreign Property Purchases In Cyprus In 2025

by THEFUTURE.TEAM

July 15, 2026

Russian buyers accounted for 51% of foreign residential property purchases in Cyprus in 2025, according to a report published by Russian business magazine Business Petersburg.

Cyprus Retains Its Pull For Russian Capital

Despite European sanctions and tighter banking controls, Cyprus continues to attract Russian property buyers. According to the report, the island’s appeal lies in its European Union membership, established Russian-speaking community, favourable tax environment and permanent residence programme linked to the purchase of newly built property.

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Drawing on insights from real estate executives, the publication said Russian buyers remained the largest foreign group in the market. Many are purchasing homes not only to preserve wealth but also to relocate businesses, particularly technology companies, and establish a long-term presence within the EU.

Where Demand Is Concentrated

Interest remains strongest in newly built homes priced between €500,000 and €1.5 million, with Limassol, Larnaca and Paphos continuing to attract the highest demand.

Another key factor is Cyprus’ permanent residence programme. Foreign nationals who purchase newly built property worth at least €300,000 may qualify for permanent residency, making the scheme an important incentive for overseas investors seeking long-term stability and access to the European market.

Banking Compliance Remains A Barrier

Tighter compliance requirements introduced after sanctions against Russia have made property transactions more complex.

According to the report, purchases can now take between three and six months to complete as Cypriot banks carry out enhanced due diligence and request additional documentation. Those procedures have increased both transaction times and administrative costs for buyers.

Risks In The North Temper Enthusiasm

The report also examined the property market in northern Cyprus, where lower prices and more flexible payment terms continue to attract some Russian investors.

At the same time, it warned that the territory’s lack of international recognition and longstanding property ownership disputes create significant legal uncertainty. Particular caution was advised when considering properties built on land that may be subject to claims by displaced Greek Cypriot owners.

The Republic Remains The Safer Bet

While northern Cyprus may offer lower purchase prices, Business Petersburg concluded that the Republic of Cyprus remains the more secure option for investors seeking legal certainty, access to the European market and a stable regulatory environment.

For buyers balancing cost against long-term security, those advantages continue to outweigh the lower entry prices available in the north.

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Only 63.9% Of Young Cypriots Have Basic Digital Skills, Eurostat Finds

Cyprus continues to lag behind the European Union average in digital skills among young people, even as the bloc records steady progress in digital literacy. New Eurostat data released on Wednesday also show that Cyprus has the widest gender gap in the EU, with young women significantly outperforming young men.

Cyprus Falls Short Of The EU Benchmark

According to Eurostat, 63.9% of Cypriots aged 16 to 24 had at least basic digital skills in 2025, well below the EU average of 74.6%.

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Across the bloc, nearly three-quarters of young people have reached at least a basic level of digital competence, reflecting the growing importance of digital skills in education, employment and everyday life.

Nordic And Central European Leaders Set The Pace

Denmark recorded the highest share of digitally skilled young people, at 92.1%, followed by the Czech Republic with 91.7% and Malta with 91.5%.

At the other end of the ranking, Bulgaria and Romania were the only member states where fewer than 60% of young people had achieved at least basic digital skills, at 52.8% and 53.3%, respectively.

Women Outperform Men Across Most Of The Bloc

Eurostat’s figures also highlight a persistent gender gap across much of the EU. At the bloc level, 75.9% of women aged 16 to 24 possessed at least basic digital skills, compared with 73.3% of men. The same pattern was recorded in 22 member states, including Cyprus.

No country recorded a wider gender gap than Cyprus. Some 73.9% of young women had at least basic digital skills, compared with 55.1% of young men, a difference of 18.8 percentage points.

A Wide Gap With Policy Implications

The disparity is significant because digital skills have become increasingly important for access to education, employment opportunities and participation in a technology-driven economy.

For policymakers, the figures underline two challenges: raising overall digital proficiency while narrowing the gap between young women and young men. Slovenia recorded the second-largest gap in favour of women, at 11.6 percentage points, followed by Austria with 9.1 points.

By contrast, young men outperformed women in only five EU countries. The widest gaps in favour of men were recorded in Malta, where 93.6% of young men had at least basic digital skills compared with 89.1% of young women, and Romania, where the figures stood at 55.1% and 51.1%, respectively.