According to data from the Cypriot Ministry of Internal Affairs presented to parliament, as well as reports from Cypriot media, foreign buyers purchased more than 37,000 properties on the island between 2021 and 2024.
Top 10 buyer countries (2021–2024)
- United Kingdom — about 11,800 properties.
- Russia — approximately 4,924 properties.
- Greece — about 4,657 properties.
- Israel — 3,909 properties.
- Lebanon — 2,078 properties.
- China — 1,226 properties.
- Germany — in the top 10 (without specifying the number).
- Romania — in the top 10 (without specifying the number).
- Ukraine — consistently in the “second five”, approximately 9th place; Ukrainians are particularly noticeable in Limassol and Paphos.
- Belarus — in the top 10 (without specifying the number).
The statistics show some regional characteristics, for example, in Paphos, the British traditionally lead (~4,500 properties), in Limassol, the Russians lead (~2,500), followed by the British and Israelis. In Larnaca, the British, Lebanese, and Israelis are active, while in Nicosia, a significant portion of transactions are carried out by Greeks and British.
Since 2021, foreigners have purchased more than 37,000 properties, while Cypriot citizens have purchased more than 200,000. Transactions involving foreigners are concentrated in Limassol and Paphos (about 60% of all transactions).
The main trends in the Cyprus residential real estate market are:
- Price growth: in 2024, the total volume of transactions reached a record €5.7 billion; the cost of apartments in Nicosia and Larnaca increased by 7-10% over the year.
- Shift in demand: foreign buyers are increasingly choosing the mid-range segment instead of ultra-expensive villas, focusing on residence permit programs and rentals.
- Leading locations: Limassol and Paphos remain key centers of interest, but the share of transactions in Nicosia and Larnaca is growing.
- Rental market: high demand for long-term rentals in cities with universities and IT offices; rental yields are around 3.5–4% per annum.
Experts predict further growth in interest from citizens of Israel, Lebanon, and Ukraine, as well as a possible revival of Chinese investors as currency restrictions ease.
Source: http://relocation.com.ua/cyprus-named-the-main-countries-buying-real-estate-with-the-british-leading-the-way-and-ukrainians-in-ninth-place/
BRITISH, CYPRUS, REAL ESTATE, UKRAINIANS
