According to the Relocation.com.ua project, the Cypriot authorities have officially ended the transition period during which foreign investors could still apply for permanent residency under the previous, more lenient conditions. This was announced by the Cyprus Department of Migration, which published a notice on March 3 regarding the cessation of accepting applications under the old criteria under Regulation 6(2).
This refers to a mechanism that allowed some applicants to take advantage of the conditions in effect before the requirements were tightened. Now that this option has closed, new applications must comply with the program’s updated rules, including current investment and compliance requirements. According to industry market reviews, the key condition for third-country nationals to obtain permanent residency in Cyprus through the fast-track program remains an investment of at least €300,000 in real estate or another approved asset; however, applications under the old parameters are no longer accepted.
The decision may affect some of the demand from foreigners who viewed real estate purchases as a way to secure resident status on the island. At the same time, Cyprus’s housing market itself remained stable in early 2026. According to data based on official statistics from the Department of Lands and Surveys, in February 2026, the total number of real estate transactions increased by 11% year-over-year. Cypriot buyers accounted for 866 transactions, EU citizens for 231, and buyers from non-EU countries for approximately 430–440 transactions, or nearly 29% of the monthly volume.
The most notable activity among foreign buyers in February was recorded in Paphos and Larnaca. In Paphos, EU citizens completed 92 transactions, while buyers from non-EU countries completed 145. In Larnaca, EU citizens accounted for 42 transactions, while non-European buyers accounted for 121. This confirms that coastal areas continue to be the main focal points for foreign capital in Cyprus’s residential real estate market.
Overall, according to Audit Office data, 61% of real estate sales in Cyprus in 2024 were made by Cypriots, 12.07% by EU citizens, and 27.35% by citizens of non-EU countries.
In total, 15,797 real estate transactions were registered on the island in 2024, of which 4,321 involved non-European buyers. The highest share of foreign transactions was in Paphos—44.19% of all sales—followed by Larnaca—33.85%, Famagusta—26.71%, and Limassol—26.51%.
When it comes to the main groups of foreigners investing in housing in Cyprus, the market is currently shaped by several major flows. First, there are EU citizens, who are particularly active in Limassol and Paphos. Second, there are buyers from countries outside the EU, for whom Cyprus remains attractive both as a place to live and as an investment destination. Among the most prominent non-European groups in recent years are Lebanese, Israelis, Russians, and Chinese. According to the Audit Office, in the Nicosia sample for 2020–2024, the largest groups of foreign buyers were Chinese and Lebanese—16% each—followed by Russians—14%—and Israelis—10%.
More recent data presented by the Cypriot Ministry of Interior to parliament shows that between September 2024 and September 2025, British, Israeli, and Russian buyers stood out among foreign buyers. In Larnaca, Israelis purchased 850 properties, Lebanese—723, and British—302. In Limassol, Russians led with 846 purchases, followed by Israelis—571 and Greeks—261. In Paphos, the British took first place with 890 transactions, followed by Israelis with 683 and Russians with 327.
Thus, the closure of the transitional scheme for obtaining permanent residency under the old rules means one thing for foreign investors: access to the Cypriot real estate market remains, but the previous preferential terms can no longer be used.
