Cyprus’ top foreign realty purchasers
Russian nationals were by far the largest group of foreign real estate buyers in Cyprus during the first two months of 2023, according to data by the Department of Lands and Surveys, the department’s Director Elikos Elia said during the opening of the 5th Property Show last Friday in Nicosia. Buyers from the UK, Israel, Greece, Lebanon, and Germany followed, Elia said.
The Cypriot realty market, he noted, remains strong, despite the pandemic and the war in Ukraine. He noted that his department records 20,000 sales of more than 4 million euros each year. He added that his department recorded 14,489 mortgages in 2022, amounting to €3.29 million.
According to the data presented by Elia for January and February 2023, Russians top the list of foreign buyers of real estate in Cyprus. Buyers from the UK are in second place and from Israel in third place, with a preference for coastal areas, not limiting themselves to Larnaca as in the past, Elia said.
He added that Greeks are in fourth place on the list, followed by Lebanese, Germans, Romanians, Chinese, Ukrainians, Dutch nationals, Bulgarians, Polish, Belarusians and Americans.
