Every fourth home buyer in Cyprus is a non-EU citizen

Almost a quarter of all real estate transactions in Cyprus are made by foreigners who are not citizens of the European Union. This was stated in the latest report by the Auditor General of the Republic of Cyprus, presented at a meeting of the Parliamentary Committee on Internal Affairs.

According to official data, in 2024, 27.4% of real estate transactions were concluded by citizens of third countries. From January to July 2025, the share of such buyers amounted to 26% of all transactions. Lawmakers expressed concern that the actual figure may be even higher, as foreigners often purchase property through Cypriot legal entities, formally registering the deal as a domestic transaction.

The report notes a steady increase in the number of transactions over recent years:

• 2020 — 873 purchases,
• 2021 — 1,070,
• 2022 — 1,471,
• 2023 — 2,458,
• 2024 — 2,511 transactions.

Most foreign property purchases occur in the Paphos district, where a significant proportion of buyers are from the United Kingdom. In other regions, the majority come from China (16%), Lebanon (16%), Russia (14%), and Israel (10%).

Parliamentary committees expressed concern over the lack of a monitoring mechanism after transactions are completed: currently, the state does not conduct checks to confirm who actually owns the property. This creates a risk of speculation and price increases, especially in popular coastal areas.

The authorities are discussing the possibility of tightening legislation to limit the influence of external demand on the market. However, according to representatives of the Ministry of Finance, it is “technically impossible” to introduce such changes before the end of the year, as coordination with European regulators and a revision of investment rules are required.