39% of Real Estate Transactions in Cyprus Involve Foreign Buyers

Cyprus is experiencing significant international investment activity: 39% of real estate buyers on the island are foreigners, highlighting the sustained appeal of Cyprus to overseas investors.

According to statistics from the Cyprus Department of Land and Surveys, from January to May 2024, there were 3,781 transactions involving local buyers and 2,450 transactions involving international buyers. Notably, 71% of foreign investors come from countries outside the European Union.

These figures underscore the international interest in the Cyprus real estate market and demonstrate that the market remains robust and attractive to diverse buyer categories.

Limassol: As the business hub of Cyprus, Limassol attracts a significant number of foreign buyers, though locals still make up the majority. High residential property prices might deter some foreign investors, as similar prices in Limassol can buy much higher quality properties in Paphos and Larnaca. However, Limassol continues to offer excellent opportunities for commercial investments.

Nicosia: The capital of Cyprus sees the majority of transactions by local buyers. The lack of a coastline might limit interest from foreigners seeking coastal properties. Nonetheless, Nicosia is attractive to locals employed in administrative and governmental sectors.

Larnaca: This region shows an almost equal distribution between local and foreign buyers, with locals making up 53.99% and foreigners 46.01%. This ratio indicates significant foreign interest, along with strong local market stability. Larnaca continues to develop its infrastructure and tourism potential, making it a key region for real estate investment. Moreover, the presence of an international airport enhances accessibility, positively influencing investor interest.

Paphos: Foreign buyers dominate the market here, likely due to the region’s tourism appeal. Paphos is known for its high-quality residential complexes and resorts, attracting not only investors but also those seeking vacation homes or second residences.

Thus, the Cyprus real estate market showcases its appeal, offering advantageous opportunities for different types of buyers. With a diverse range of properties and regions, Cyprus provides unique opportunities for investors interested in various types of investments, including commercial real estate, residential complexes, tourist properties, and second homes.

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