Property for sale near New Phaneromeni Polyclinic

On the RICS Cyprus Property Index with KPMG in Cyprus for the second quarter of 2026, apartment values rose 5.42% and house values 4.04% in a year, and average rental yields were 5.51% for apartments and 3.01% for houses.

Immovable property tax was abolished from 1 January 2017. Estate duty was abolished for deaths on or after 1 January 2000; the old law still applies to the estates of people who died before that date.

A non-EU national who buys a new home from a developer for at least €300,000 (plus VAT) with money transferred from abroad, and has a secure annual income from abroad of at least €50,000, can apply for permanent residence under the Migration Department's expedited procedure for investors.

Yes. Buyers who are not citizens of Cyprus, the EU or the EEA need a permit to buy from the District Administration of the district where the property is, with a few exemptions in the law. The same applies to a Cyprus company that such buyers control, for example by holding half or more of the shares or votes. The application is on form COMM 145 and there is no fee. It takes 2 to 3 weeks.

The rules are in the Acquisition of Immovable Property (Aliens) Law, Cap. 109, and its regulations. Such a buyer, or a couple together, can get permits for up to two homes, or for one plot of up to 4,014 m² to build a home to live in.

For rental income, apartments. In the RICS Cyprus Property Index with KPMG in Cyprus for the second quarter of 2026, apartments yielded 5.51% on average and holiday apartments 5.82%, against 3.01% for houses. Apartment values rose 5.42% in a year, the largest gain of any property type in the index.

Limassol had the most sales contracts of any district in that quarter, according to the Central Bank of Cyprus. See our apartments for sale in Limassol.