The Cyprus property market has seen an impressive surge in foreign interest over recent years, with thousands of properties being snapped up by international buyers, both from EU member states and beyond. According to the latest figures from the Department of Lands and Surveys, a staggering 37,000 properties were sold to foreign nationals between 2021 and the end of 2024, underscoring the growing appeal of the island’s real estate market.
During the same period, Cypriot nationals continued to dominate the local market, purchasing over 200,000 properties. Yet, it’s the foreign buyers who are making a notable impact, with UK nationals consistently leading the pack, followed by Russians, Israelis, Greeks, and Lebanese.
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The figures, which were presented to the House of Representatives by Interior Minister Constantinos Ioannou, offer a detailed breakdown of property acquisitions, including buyer nationality and district. Let’s take a closer look at the trends across various regions of Cyprus.
Nicosia: Greeks, Britons, And Australians Take The Lead
In the capital, Nicosia, Greek nationals have emerged as the top foreign buyers, securing 1,626 properties between 2021 and 2024. This includes 272 properties purchased via sales agreements and 1,354 through completed sales. UK nationals are a close second with 1,584 properties, while Australians round out the top three with 545 properties.
However, despite the strong foreign presence, Cypriots remain the dominant force in Nicosia’s property market, holding an impressive 98,205 properties compared to just 5,236 owned by foreigners.
Limassol: Russians, Britons, And Israelis Fuel Growth
Limassol has become a hotbed for foreign property purchases, with Russian nationals leading the charge. Over the four-year period, they secured 2,561 properties, with 1,269 purchased via sales agreements and 1,292 from completed sales. UK nationals followed with 1,840 properties, while Israelis also showed strong interest, buying 1,154 properties.
Cypriots continue to make up the bulk of property owners in Limassol, with over 62,000 local purchases, but foreign buyers have clearly made their mark in this coastal city.
Paphos: A Favourite Among Britons, Russians, And Israelis
The town of Paphos has also seen an influx of foreign buyers, with the UK topping the list once again. British nationals acquired 4,483 properties in Paphos between 2021 and 2024, followed by Russian nationals with 1,563 properties and Israelis with 1,291 properties. The total number of foreign property purchases in Paphos exceeds 10,000, while Cypriots secured 28,484 properties during the same period.
Larnaca: Lebanese, Britons, And Israelis Drive Sales
Larnaca’s property market has attracted significant foreign interest as well, with UK nationals at the forefront, purchasing 2,743 properties. Lebanese buyers rank second with 1,744 properties, while Israelis follow closely with 1,406 acquisitions. Over the four years, Larnaca saw 8,535 foreign property purchases, with Cypriots acquiring a larger share—33,819 properties.
Famagusta: Britons, Greeks, And Lebanese Show Interest
In Famagusta, British nationals again lead the pack with 1,182 property purchases. Greeks and Lebanese nationals follow with 165 and 131 properties, respectively. However, Cypriots continue to dominate the Famagusta market, with 16,966 properties purchased by locals compared to just over 2,000 foreign acquisitions.
The data paints a clear picture: foreign nationals are showing growing interest in Cyprus’ real estate market, particularly those from the UK, Russia, Israel, Greece, and Lebanon. This surge in foreign investment is reshaping the landscape of Cyprus property, offering both challenges and opportunities for local buyers and developers alike.
