Concerns Over Rising Number of Foreign Buyers in Cyprus Real Estate Market in 2024
September 23, 2025
The Audit Office's report reveals that in 2024, 27% of properties in Cyprus were purchased by foreigners, mainly from Russians, Chinese, Lebanese, and Israelis. However, the actual percentage of foreign buyers is higher because sales to Cypriot companies with foreign shareholders are not included in these figures. These transactions are recorded as sales to Cypriots, thus underestimating the presence of foreigners in the market. Additionally, numerous assignment contracts obscure the rights of foreign buyers. There are concerns about the lack of transparency in the real estate market.