The ownership of 53,076 Cyprus properties have been transferred to non-EU nationals as of 7 July 2025 with a further 29,089 in the pipeline, according to Interior Minister Constantinos Ioannou.
(In the first seven months of 2025, a total of 1,349 properties have been transferred to non-EU nationals according to Land Registry figures.)
Properties transferred by district
The transfer of a total of 53,076 Cyprus properties were completed, with the majority recorded in Paphos (20,755) and Limassol (17,083). The remaining transactions were distributed across:
- Larnaca: 9,175
- Famagusta: 3,509
- Nicosia: 2,554
At the same time, 29,089 contracts have been filed at Land Registry offices but have yet to be finalised. Of these, 9,460 are in Paphos, 7,297 in Larnaca, 7,208 in Limassol, 4,215 in Famagusta and 899 in Nicosia.
The minister presented these figures in parliament following a question raised by MP Nikos Georgiou.
Legal framework for non-EU buyers
Under the Immovable Property Acquisition (Aliens) Law (Cap. 109), nationals of third countries, foreign companies, or companies controlled by foreigners must obtain prior approval from the District Administration to purchase property in Cyprus. This approval is granted with specific conditions and restrictions.
Mr Georgiou asked for clarifications on how the ministry interprets the term “acquisition of immovable property”, including whether it covers only purchase contracts or also other forms of property rights. He also raised questions regarding:
- The timing of the District Officer’s consent – at contract signing or property transfer.
- Whether assignment contracts are treated the same as purchase agreements.
- How many purchase and assignment contracts have been filed without the required approvals.
Clarifications
The minister explained that acquisition under the law includes not only sales contracts but also:
- Leases exceeding 33 years (including renewals/extensions).
- Acquisition of shares in companies holding property, where control passes to foreigners.
- Creation of trusts benefiting foreigners involving property or shares.
He stressed that a permit from the Council of Minister, which is delegated to the District Officer, is required to transfer title of a property to its buyer, but not for simply filing a sale or assignment contract with the Land Registry.
Assignment contracts are treated the same as sale contracts for legal purposes. Therefore, if the assignee is a third-country national, they must also secure a permit at the time of transfer of title to their name.
Assignment agreements in numbers
Currently, the Land Information System cannot distinguish assignees by nationality. However, in total, 9,746 assignment agreements have been filed at the Department of Lands and Surveys, covering Cypriots, EU nationals and third-country nationals, and remain in force.
(Translated & summarised from a Greek article in Politis)
