$5 million
Penthouse in Limassol, in the tourist area of Agios Tychonas or Pyrgos, and on the first coastline
The Republic of Cyprus restricts selling properties to foreigners: a non-EU citizen can buy no more than two properties and need a permit to purchase them.
Residential property prices almost don’t grow: the average growth is 0.1% each quarter, with fluctuations from a 5%-growth to a 6%-decline. Seven years ago, an apartment of 100 m2 cost €171,000. However, today it’s sold for €270,000.
€2,700
Average price per 1 m²
€300,000+
Real estate investment for residency
3.25—20.2%
Associated costs, of the property value
$5 million
Penthouse in Limassol, in the tourist area of Agios Tychonas or Pyrgos, and on the first coastline
€700,000
Apartment in Limassol,
in the Neapolis district,
in a 10-minute walk from the beach
€400,000
Apartment in the centre of Larnaca,
a kilometre from the sea
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Investors can get Cyprus permanent residency if they invest at least €300,000 in real estate.
Permanent residency is granted for life; only a resident’s ID card must be renewed every 10 years.
Relocation and living in Cyprus is not required to maintain or renew residency, a visit once every 2 years is enough. However, living in the country permanently for 8 years out of the last 11 grants the right to apply for citizenship by naturalisation.
€300,000
For residential or commercial property
An investor can buy one or two primary real estate properties for a total amount of €300,000 plus VAT.
The standard VAT rate is 19%, but when purchasing a single home for your own residence, it is reduced to 5%.
The Golden Visa applicant cannot invest in a resale real estate.
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We offer proven properties that comply with the conditions of government programs for investors. You can buy real estate and obtain a residence permit or citizenship.
€375,000+
Permanent residency
6+ months
Show 11 properties
AED 750,000+
Residence permit
2+ months
Show 166 properties
Not limited
Residence permit
4+ months
Show 36 properties
Not limited
Residency after D Visas
6+ months
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Find out how much it costs to buy and rent real estate in each country, what the market dynamics are and what taxes you need to pay when buying and selling.
Material prepared by Igor Buglo, Head of the Maltese office, MBA
The sale of real estate to foreigners in the Republic of Cyprus is limited. A non-EU citizen needs to get a permit first, and then buy no more than two properties.
The real estate market in Cyprus has been recovering after the 2020 stagnation. On average, Cyprus property prices have been growing by 0.1% each quarter. But there are price fluctuations: from a 5% growth to a 6% decline.
There are multiple advantages of investing in Cyprus real estate, for instance:
local property is a liquid asset. It can be rented out for passive income and resold for profit. Real estate in big cities and resorts of Cyprus brings investors an annual yield of up to 10%;
residential property worth at least €300,000 is a path to Cyprus permanent residency;
Cyprus has no inheritance tax, and income and property tax rates are low.
A 100 m² apartment in Cyprus costs €270,000 on average. The average price per 1 m² of housing is €2,700.
For buying one or two properties worth €300,000 or more investors can obtain a permanent residence status in Cyprus. They can buy residential or commercial real estate.
Immigrant Invest offers a Cyprus real estate database: listings are eligible for the Cyprus Permanent Residence by Investment program. Investors can choose from a variety of properties, including those in the construction stage — which can be bought commission-free.
Cyprus has several types of property taxes. Owners of real estate in Cyprus pay an annual tax at a progressive rate of 0—1.9% of the cadastral property value. Owners who rent their property out pay the income tax at a progressive rate of 0—5%.
Buyers of real estate in Cyprus pay:
VAT of 14—19% on new properties;
transfer tax of 3—8% on secondary properties.
Sellers of real estate in Cyprus pay a capital gains tax of 20% on the difference between the sale and purchase prices.
Cyprus has a well-established legal framework for property ownership and transactions. However, it’s essential to conduct thorough due diligence and ensure that the property you’re interested in has clear title deeds and no legal encumbrances.