More than half of foreign property buyers in Cyprus are Russians

According to the Russian publication Business Petersburg, in 2025 about 51% of all property purchase transactions in Cyprus involving foreign buyers were made by Russian citizens.

The publication notes that the Republic of Cyprus remains attractive to Russian investors thanks to its EU membership, a large Russian-speaking community, tax conditions and the possibility of obtaining permanent residency when buying new housing worth from 300,000 euros.

The most in-demand properties are new developments priced from 500,000 to 1.5 million euros in Limassol, Larnaca and Paphos. At the same time, due to European sanctions and increased banking checks, transaction processing can now take from three to six months.

The authors of the article also mentioned the real estate market in Northern Cyprus. In their view, lower prices attract foreign buyers, but unresolved property issues and the lack of international recognition of the TRNC create serious legal risks for investors.