Buying property in Cyprus is relatively easy. It is advisable to contact a real estate agent and a lawyer: they know the market and regulations and how to avoid any complexities.
You will select a property according to your budget and needs and make an offer through the real estate agent. Important issues to discuss are the price, property condition, and timeline for payment and delivery.
After signing the contract and paying, you or your representative will go to the District Lands Office to register the contract of sale and issue the title deeds. If you are a third-country national, you need permission from the Council of Ministers to buy a property.
Why is property so cheap in Cyprus?
Property is not as cheap in Cyprus as you might think: recent data (July 2025) do not place it in Europe's top 10 most affordable places.
However, there is a variation in prices depending on location. Some properties in specific areas may be much more expensive than others.
At the same time, you can find affordable houses and apartments in villages (some close to the city) and in cities, just not in the suburbs close to the city centre.
Is buying property in Cyprus a good investment?
Yes, buying property in Cyprus is a wise investment. It offers stable growth and rental yields of 4-6%. The market protects against inflation and has favourable tax laws, including no property or inheritance tax. A €300,000 investment also opens a path to permanent residency for foreign nationals.
Can foreigners buy real estate in Cyprus?
Yes, with permission from the Council of Ministers. This is a simple procedure, done by submitting Form Comm. 145 to the District Officer in whose district the property is situated.
The land, house, apartment or building must not be larger than necessary for the purpose you need. The land plot must be large enough for a residential home, with a maximum size of 4,014 sqm.
The relevant law is The Immovable Property Acquisition (Aliens) Law, Cap. 109.
How long does it take to buy a house in Cyprus?
The process usually takes 1-2 months, depending on the circumstances and the property involved. If, for example, you need a mortgage or Council of Ministers approval and the property is still under construction or in the renovation process, it might take longer.
