Interest in residential property in Cyprus from third-country nationals continues to grow rapidly. Over the past five years, approximately 15,000 applications for property purchase permits have been submitted.
The Paphos district received the most applications—5,477. Limassol followed with 4,316 applications, followed by Larnaca with 3,479. Nicosia received 886 applications, and Famagusta 816. The Kyrenia district recorded only four applications, making it the least popular among foreign buyers.
The number of applications peaked in 2023, when 3,524 were registered. This growth is due to increased interest in residential real estate investments from citizens of countries outside the European Union.
Such applications are reviewed by district administrations, where they are typically handled by a single employee. In some cases, a second specialist assists, depending on the workload. The average processing time for a single application is one to two months. However, delays may occur due to service overload and the need to coordinate with other agencies or applicants to gather a complete set of documents.
The issue of the process’s efficiency and the burden on district administrations was raised by DISY MP Nikos Georgiou . He expressed concern about the current procedure for processing applications under the “Law on the Acquisition of Real Estate by Foreigners (Chapter 109),” noting the need to optimize the system.
