Foreign property buyers, leaders in Cyprus

Russian citizens are the largest group of foreign property buyers in Cyprus during the first two months of2023, according to data from the Department of Land and Surveys, said department director Elikos Eliya during the opening of the5th real estate exhibition last Friday in Nicosia.

Buyers from the UK, Israel, Greece, Lebanon, and Germany are following them, said Elias. He noted that the Cyprusreal estate market remains strong despite the pandemic and the war in Ukraine. He also noted that his department registers20,000 sales annually totaling over4 million euros.

According to the data presented by Elia for January and February 2023, Russians rank first among foreign buyers of real estate in Cyprus. Buyers from the UK are in second place, while those from Israel are in third, preferring coastal areas and not limiting themselves to just Larnaca as they did before, Elia said. He added that Greeks occupy the fourth position on the list, followed by Lebanese, Germans, Romanians, Chinese, Ukrainians, Dutch citizens, Bulgarians, Poles, Belarusians, and Americans.