Filenews 18 August 2025
Paphos is "transferred" to foreigners of third countries if one considers that out of a total of 53,076 properties that have been sold nationwide until 7.7.2025, 20,755 were sold in Paphos. Of course, Limassol is not going backwards given that 17,083 were sold
Larnaca follows with 9,175 properties, Famagusta with 3,509 and Nicosia with 2,554 properties.
In addition to the transfers (which have already been completed), there are also properties that have changed hands in the sense that the sales documents have been filed but the transfer is pending.
According to data cited by the Minister of the Interior in response to a question by MP Mr. Nikos Georgiou, the number of documents sold amounts to 29,089. If the number is added to the number of properties that have already been transferred (53,076), then the properties that have passed into the hands of foreigners in third countries amount to 82,165.
In Paphos, documents relating to 9,470 properties have been filed, in Limassol documents relating to 7,208 properties have been filed, in Larnaca documents relating to 7,297 properties have been filed, in Famagusta 4,225 documents have been filed and in Nicosia documents relating to 899 properties have been filed
Responding to a relevant question, the Minister states that the acquisition permit issued by the District Governor (who has been assigned the power by the Council of Ministers to acquire immovable property in Cyprus by third-country nationals) is a necessary prerequisite for the processing of a transfer. Therefore, it is secured before the date of transfer to the Land Registry, but it is not a prerequisite for the submission of the relevant purchase and sale document, in accordance with the legislation.
It also states that the assignment documents are equated with the purchase and sale for the purposes of the application of the Law on the Acquisition of Real Estate (Foreigners) Chapter. 109. The transferee is therefore considered to be the new purchaser and, if he is a third-country national, it is required, under the relevant Law, to obtain a purchase licence from the District Governor when processing the transfer in his name, but that licence is not a condition for the filing of the transfer document with the competent District Cadastral Office
