Foreign real estate acquisition in Cyprus

Concerns have been raised regarding foreign real estate and land acquisitions in Cyprus. European Parliament Member Fidias Panayiotou warned of an increasing scale of Israeli land and property purchases, noting that wealthy Israelis may be seeking stability following domestic unrest. Panayiotou cautioned that these acquisitions, which include apartments and entire villages, could lead to significant demographic shifts.

Parliamentary data from January 2025 indicates that foreign nationals purchased 35,468 properties in Cyprus between 2021 and 2024. Sales were concentrated in Paphos, Limassol, Larnaca, Nicosia, and Famagusta, with buyers including British, Russian, Greek, Israeli, Lebanese, and Chinese citizens.

Discrepancies in ownership patterns exist between the southern and northern parts of the island. In the south, foreign sales do not include disputed assets belonging to Turkish Cypriots, whereas in the north, a significant portion of foreign-sold properties involves assets previously owned by Greek Cypriots. Observers have highlighted risks associated with an economy reliant on real estate, including environmental degradation, infrastructure limitations, and the potential for local populations to be priced out of the market.