Pafos Live 9 October 2025
Foreign buyers outside the EU amounted to 27% of total real estate sales in Cyprus in 2024, according to the data presented today by the Audit Office, during the examination of the special report concerning the control of the acquisition of real estate by foreigners, before the Parliamentary Audit Committee. The first in these sales was Paphos in 2024, while Larnaca was in second place. The first in real estate sales to foreigners in 2024 was Paphos, with 1,373 (44.19%), which also records the largest volume of real estate transfers to foreigners during the five-year period 2020-2024, with the number of transfers in the years 2023 and 2024 more than doubling, compared to previous years. Larnaca has the second place in sales to foreigners outside the EU in 2024 with 1,136 contracts (33.85%), while around 26% were in Famagusta and Limassol and only 7.68% in Nicosia.
Non-EU foreigners who acquire property in Cyprus in the last five years (2020-2024) come mainly from Lebanon (16%), China (16%), Russia (14%), Israel (10%), Syria (6%), Egypt (5%), Britain (4%), Ukraine (4%), Canada (2%).
In addition, according to EY, the percentage of property acquisition by non-EU foreigners is also increasing due to the possibility of concluding concession agreements. It is noted that the total number of concession agreements, including Cypriots, Europeans and Third Country Nationals, which have been submitted to the Department of Land Registry and Surveying and are still in force, amounts to 9,746.
