Foreign property purchases in Cyprus have increased
Cyprus is seeing a sharp rise in interest from foreigners in purchasing real estate, with Paphos becoming the absolute leader: sales to non-residents increased by as much as 85%, one of the highest figures in recent years.
According to media reports, demand is supported by active construction, more affordable prices compared to other Mediterranean destinations, and the possibility of obtaining a residence permit when purchasing property. Paphos remains the most attractive area thanks to its developed infrastructure and a large number of new projects.
The main buyers are citizens of EU countries, the Middle East, and Israel.
Against the background of increased demand, local residents are concerned: the growth of deals with foreigners contributes to rising prices and reduced housing affordability for Cypriots.
Paphos continues to strengthen its reputation as the “foreign capital” of the Cypriot real estate market.
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