Complete Guide for International Buyers: Key Steps to Purchasing Property in Cyprus

Congratulations! You’ve decided to buy property in a foreign land! People may invest in foreign property for different reasons. Some want a vacation place. Others want to make money from rentals. You might have one of these reasons or several. The most important thing now is to choose the right location, learn about local laws, and understand the best way to make the deal.

We’ve already helped you with the location. It’s Cyprus. Next — read our guide. You’ll discover why Cyprus is a great choice for these investments. We’ll also provide step-by-step on buying an apartment abroad, what laws to follow, how to avoid mistakes, and where to find support if any issues arise.

What to Look For When Buying Property and Why Choose Cyprus?

Picking the ideal location is a crucial first step when investing in property. In Cyprus, the pricing policy and market dynamics vary by region, offering diverse opportunities for buyers. For instance, according to Cyprus Mail, the average price of an apartment in Limassol reached €558,230 in 2024, reflecting a 20.6% year-on-year increase. In contrast, as for Global Property Guide opinion, Nicosia’s average apartment price is €198,421, making it a more budget-friendly option.

When considering prospects, remember that Limassol and Paphos have shown strong price appreciation, with projections indicating continued demand from international investors in 2025.

So, let’s see what you should focus on when planning to buy property in Cyprus and what factors, beyond pricing, make this location a compelling choice.

1. Reliable Economy

Cyprus is riding a wave of economic growth that’s hard to ignore. The Economic Forecast for Cyprus calculated that in 2024 the country’s GDP grew by 2.5% thanks to booming tourism, thriving real estate, and robust construction activity. Even better, 2025 looks promising, with predictions of further growth as EU investments kick in to supercharge development.

This stable and reliable economy makes Cyprus an appealing destination for property buyers.

2. Good Infrastructure

Think of infrastructure as everything around you that makes life easy: roads, airports, schools, hospitals. In Cyprus, cities like Limassol and Nicosia are constantly upgrading. The island boasts two international airports in Larnaca and Paphos, making travel a breeze. It has 12 major hospitals, including top-tier facilities like the American Medical Center, and a growing number of international schools.

According to Financial Mirror, Limassol is leading the way, planning to become a climate-neutral smart city by 2030. This has already earned recognition as one of Europe’s top emerging urban centers. With smooth highways connecting major cities and neighborhoods filled with modern conveniences, Cyprus feels tailor-made for living, working, and investing.

3. Growing Property Market

Are you wondering whether your investment will grow? According to recent data, property prices in Cyprus climbed by 5.6% in 2024. Limassol and Nicosia are leading the way in attracting local and international buyers.

If you’re considering the coastal areas, you’re lucky — Paphos, a popular tourist destination, is also growing. The tourism sector is projected to continue its upward trajectory, with a Statista forecasted 7.3% increase in visitors in 2025. This ensures that property demand remains robust.

4. Safe and Stable Country

Safety is always a priority when investing abroad, and Cyprus delivers in spades. In 2024, the Eurostat Safety Index highlighted it as one of the top five safest countries in Europe, making it not just an idyllic island but a secure one. Pair this with its adherence to EU property laws, and you can invest with peace of mind. 

5. Rental Demand

If you’re considering renting your property, here’s the exciting part given by Visitor Statistics: in 2024, over 4 million tourists visited Cyprus, creating a rental boom. Popular areas like Ayia Napa and Limassol saw occupancy rates soar to an average of 78% during peak seasons. And here’s the kicker — tourism is forecasted to grow by 10% in 2025, so your rental property could be a goldmine.

Step-by-Step Guide to Buying Property in Cyprus

Let’s go through the step-by-step process to ensure your property purchase is quick, well-managed, and with minimal costs.

Step 1: Set Your Budget

Knowing what you can spend is crucial before browsing for homes or apartments. Think about everything — how much you can pay upfront, plus taxes, maintenance costs, legal fees, and registration. Do you want to take out a loan or get a mortgage (especially from a bank in Cyprus)? Look into the options and terms ahead of time.

For a general idea of property pricing in Cyprus as of 2024, let’s trust what Real Estate Cyprus Outlook says:

• The minimum price for a small apartment in areas like Nicosia or Limassol starts from around €100,000 – €150,000 for smaller, older units.
• The maximum price for luxury properties or new villas in prime areas like Limassol or the coastal areas can go up to €2 million – €5 million, depending on the location and size of the property.

Step 2: Choose the Right Location

It’s time to narrow down your search. Which region should you choose? Cyprus has many different areas, each with its advantages and characteristics. Ask yourself: Why am I buying property? What do I plan to do with it soon?

• For investment: Limassol and Nicosia are growing quickly and have strong rental demand.
• For holiday homes: The coastal areas of Ayia Napa, Protaras, and Paphos are popular among tourists.
• For long-term living: Cities like Nicosia offer a more urban lifestyle, with all the amenities needed for families and professionals.

Step 3: Research the Market and Property Types

Narrow your search even further. What type of premises are you buying? Research the local market (you can easily find up-to-date listings and statistics online). Consider the following local variants:

• Apartments are great for rental income or city living. Cyprus Realtors inform that the average price for an apartment in Cyprus in 2024 is approximately €1,500 to €2,500 per square meter, depending on location.
• Villas: Ideal for holiday homes or long-term rentals in tourist areas. Expect to pay around €2,500 to €4,500 per square meter in popular coastal areas like Limassol and Paphos, as for Statista prognosys.
• Commercial properties: For business owners or investors seeking higher returns, commercial property prices vary widely but range from €1,000 to €3,500 per square meter depending on location and type of business zone.

Choose your location and check the prices for the premises. Consider your options and weigh your possibilities carefully.

Step 4: Find a Local Real Estate Agent

A property agent is your guide in this process. They know the area, can show you homes or apartments that fit your budget, and help with all the legal steps.

Here’s how to find one:

• Look for listings and agent contacts on websites like PropertyFinder or Rightmove.
• Look for real estate offices in the area where you want to buy, such as Limassol or Paphos.
• Get recommendations from friends, locals, or expats who have bought the property.

Make sure the agent is licensed and reliable. You can check their reviews online or ask them to show proof of their registration.

Step 5: Legal Due Diligence

Before you offer to buy premises, make sure everything is legal and correct. It’s better to double-check every contract line and all related documents without knowing the local laws and rules. Here’s what you need to check:

1. Clear Title Deed: You must confirm that the owner has legal rights to the asset. The title deed is a document showing the property’s ownership. You must ensure the seller’s name is on it and there are no issues with ownership.
2. No Unpaid Debts or Legal Issues: Check if the property has unpaid bills, taxes, or loans. If there are any, you could be responsible for them after buying the property. Ensure the property has no legal problems, such as legal cases or conflicts.
3. Compliance with Local Laws: Ensure your property follows local rules and zoning laws. Check the official guidelines on the Department of Town Planning and Housing website. This resource provides detailed information about zoning laws, construction permits, and approved areas for property development.

You can hire a local lawyer specializing in property purchases. They can help you ensure everything is correct and legal before making an offer.

Step 6: Make an Offer

After choosing a property you like, follow these steps:

1. Give Your Offer: Tell the seller how much you want to pay.
2. Sign the Paper: You will sign a contract if the seller says yes. This document includes the property’s price, the deposit you will pay now, and the payment schedule.
3. Ask a Lawyer to Check: Show the paper to your lawyer before signing. They will make sure everything is correct.

This step is important because, after signing, you must follow the contract’s instructions. Be careful and check everything!

Step 7: Transfer of Funds

This step can seem complicated, but it’s manageable if you know your options and plan. Let’s learn how to transfer money and what to watch out for.

1. Use a Bank Transfer: Most people send money using international transfers, which Cyprus banks often handle. It’s a common and secure choice.
2. Open a Local Bank Account: Sometimes, you may need to open a Cyprus bank account to complete the payment. Check with your lawyer to see if this is required.
3. Understand Bank Limits: Some Cyprus banks limit your transfer amount to a single day or month. Ask the bank about its policies to avoid any delays.
4. Cryptocurrency Payments: Do you prefer cryptocurrency? Check with your lawyer and the seller to see if they agree. Some transactions may not allow that currency, so you must convert it into the currency specified in the contract beforehand.
5. Save All Documents: Always keep copies of your transfer records, receipts, and confirmations. These can protect you in case of any issues.

Consult with your lawyer before making any payments. They can advise you on the best and safest way to send money for your property purchase.

Step 8: Finalize the Purchase

Now, it’s time to own your property officially. Here’s what you need to do step by step:

1. Sign the Final Contract: Meet with the seller and sign the final sale agreement. Make sure your lawyer is there to check everything is correct.
2. Pay the Remaining Fees: You must pay any outstanding taxes, fees, or costs, such as stamp duty or registration charges. Your lawyer can give you the exact list.
3. Register the Property: Go to the Land Registry Office with your lawyer or agent. Submit the necessary documents, like the sale agreement and proof of payment. The office will officially record the home under your name, and you will receive the title deed.

To avoid mistakes or delays, keep your lawyer or agent involved throughout this process. They will be your support and service handler throughout. 

Step 9: Apply for Residency (if applicable)

You can apply for permanent residency if you buy property worth at least €300,000. With the Cyprus Permanent Residency Program, you can live in the country without a visa or work permit. Plus, you get extra perks like tax benefits and access to local services. Other programs can offer even more benefits, like better healthcare or education. In recent years, the program has seen increasing popularity, with over 4,000 residency permits granted in 2020 alone, as more individuals take advantage of EU access and favorable conditions.

How to Monetize Property When You’re Not Using It

Do you have a property in Cyprus that stays empty for most of the year? Rental income is a popular choice, and in 2024, the average rental yield for properties in popular areas like Limassol and Paphos will reach around 4.5% per year. Global Citizen Solutions promises tourism will grow by 10% in 2025, further boosting rental demand.

Here are some practical ways to earn money while you focus on other things:

• Short-Term Rentals: Cyprus, a coastline nation, offers a variety of holiday rental choices. When searching for reasonably priced beachside housing, families, travelers, and students frequently start their search on websites like Booking.com or Airbnb. 
• Long-Term Rentals: Tenants seeking a longer stay may be able to rent your property. This choice is advantageous in places like Nicosia, where many professionals and students seek housing.
• Holiday Home Management: Engage a property management company to handle repairs, bookings, and guest services, allowing you to earn passive income without the hassle.
• Event Hosting: If your property is located in a picturesque coastal area and features a lovely garden, historical elements, or spacious interiors, try renting it out for weddings, photo shoots, or private gatherings.
• Commercial Use: If zoning laws allow, consider converting the property into a small office, shop, or coworking space.

Each of these options has its benefits. The choice largely depends on the premises type, location, and expected rental period.

For those choosing short-term rentals, Cyprus has specific tax requirements, so you need to register your property with the Cyprus Tourism Organization (CTO) and follow local regulations.

What are the Legal Requirements for Renting Out Property in Cyprus?

You’ve purchased a property and determined how to profit from it. Here are some crucial details to remember if you intend to rent it out:

• Taxation: Taxes must be paid if you rent your Cyprus property for a living, and the Cyprus Tax Department regulates them. If your annual rental income exceeds €19,500, you will be subject to taxation. The rate can range from 20% to 35%, depending on your income.
• Registration: Do you plan to rent your home for short stays (less than 90 days)? Register it with the Cyprus Tourism Organization (CTO). The CTO will check if your house meets safety standards and is suitable for guests. They will provide a list of requirements that your property must meet before you can start renting it out.
• Premises Care: Don’t you want to manage your place yourself? You can hire a company to take care of everything. They’ll handle maintenance, rent collection, and more. It’s a great option if you don’t live in Cyprus. 

Final Thoughts

Buying real estate in Cyprus is a great investment for the future. The country shows stable economic growth, and local laws favor foreign investors. Whether buying a house, commercial property, or a small apartment by the sea or residential area, any option can bring good returns.

Completing the purchase usually takes 4 to 6 weeks. We’ve listed all the documents and confirmations you must provide and those you must verify with the property owner. Your representative will make sure you review all the papers beforehand. However, remember everything happens in a foreign country, so avoid mistakes, delays, and confusion.

About Post Author

Andrew Leroy

Andrew Leroy is a writer for the Anisad.com blog with extensive industry experience. His articles provide readers with a unique perspective on the housing market, covering the latest trends, investment tips and creative ideas for improving spaces. A specialist in legal and financial aspects.