Filenews 24 October 2025 - by Eleftheria Paizanou
Through amendments to the bill on foreign direct investment, AKEL seeks to put a brake on the uncontrolled sale of land and other real estate to foreign investors. In fact, for this reason, yesterday's discussion of the bill by the Plenary Session of the Parliament was postponed, in order to allow time for further consultations between parties.
In particular, the amendments introduce safeguards, so that the evaluation of a foreign investment takes into account the extent to which the investment concerns or affects the sector of real estate management or acquisition. It will also take into account how the investment affects labour and environmental standards, as well as compliance with international agreements that define them.
- In detail, the first amendment provides for the inclusion of the possible imbalances in the real estate market and the housing stock among the factors that the competent authority will take into account in order to decide whether a foreign direct investment will be controlled.
- With the second amendment, they are included among the factors that will be taken into account by the competent authority when assessing whether a foreign direct investment is likely to affect the security or public order of the Republic and the control of whether a company in which a foreign direct investment is planned to take place is active in the field of real estate management.
- The third amendment provides for the inclusion among the factors to be taken into account the extent to which an investment affects labour and environmental standards and the international agreements that define them.
800 properties to third-country nationals
Meanwhile, according to data from the Ministry of the Interior, within a year, i.e. from September 15, 2024 until the corresponding period this year, a total of 790 houses, plots and fields ended up in the hands of foreigners from third countries.
In the same period, houses, plots and fields were sold to 879 European citizens. The above data prove the alarming dimensions of the issue of real estate sales to non-Europeans, reinforcing the findings of the Audit Office, according to which 27% of buyers are from third countries. The data were sent to the Parliament following a question submitted by AKEL MP Christos Christofides.
Paphos in the first choices
In detail, 385 homes have been sold to European buyers and 577 buyers from third countries. The analysis shows that most property sales to non-Europeans were made in Paphos, as they have bought 313 homes, followed by Limassol with 102, Larnaca with 77, Famagusta with 71 and Nicosia with 14.
European buyers chose to buy 189 homes in Paphos, followed by Limassol with 70, Famagusta with 43, Nicosia with 42 and Larnaca with 41.
At the same time, 218 plots have been purchased by European buyers and 132 by non-European buyers. In this case, the scene is different as 84 vacant plots in Larnaca have been sold to third-country buyers. It is followed by Limassol with 25 sales, Nicosia with 17 and Paphos with six. At the same time, 98 plots of land were purchased by Europeans in Limassol, 65 in Nicosia, 31 in Larnaca, 19 in Paphos and five in Famagusta. In terms of field sales, 81 have gone to non-European buyers and 276 to EU buyers.
Greeks in Nicosia
According to the data of the Ministry of the Interior, 403 properties were sold in Nicosia to buyers from Greece, 112 from Romania, 80 from Russia, 79 to buyers from Lebanon, 54 from Bulgaria, 44 from the United Kingdom, 32 from France, 31 from China, 27 from Syria and 19 from Ukraine.
Israelis and Lebanese
In Larnaca, home sales to buyers from third countries are "out of control". A total of 850 properties have ended up in the hands of buyers from Israel, 723 from Lebanon and 302 from England. Another 165 buyers from Greece bought houses and plots of land, 135 were Russian buyers, 95 from Germany, 69 from Romania, 68 from Poland, 62 from Ukraine and 58 from France.
The Russians remain in Limassol
In Limassol, 846 property buyers had Russian citizenship, 571 were Israeli nationals and 261 were Greeks. Another 192 buyers came from Ukraine, 187 from England, 153 from China, 115 from Romania, 71 from Germany, 66 from Belarus and 59 from Portugal.
The English Paphos and Famagusta
In Paphos 890 buyers from the United Kingdom chose to buy property, 683 from Israel, 327 from Russia, 257 from Greece, 221 from Germany, 189 from Kona, 169 from Poland, 114 from Romania, 103 from Ukraine and 91 from Ireland.
In the Famagusta District, properties were sold to 220 buyers from the United Kingdom, 57 from Bulgaria, 54 from Romania, 43 from Poland, 39 from Israel, 30 from Greece, 29 from Lebanon, 21 from Germany and 17 from Russia.
