Cypriot lawmakers have initiated discussions regarding proposed legislation designed to significantly enhance oversight of property purchases by non-citizens. This crucial development stems from growing apprehensions about national security and the potential for unchecked foreign investment in strategically sensitive territories. The government is simultaneously developing its own bill, emphasizing the comprehensive nature and pressing urgency of these impending regulatory changes.
Current laws governing foreign real estate acquisition in Cyprus are widely considered outdated and contain several weaknesses that permit nearly unrestricted transactions. Consequently, parliamentarians, particularly those on the House Interior Committee, have begun a thorough review of existing statutes and are exploring more stringent supervisory measures. This legislative impetus has been further strengthened by observations from Akel leader Stefanos Stefanou, who has noted an increasing trend of foreign interest in properties located in vital strategic areas. "We observe the purchase of, or interest in, real estate near airports, army camps, the ceasefire line and the coastline," Stefanou remarked, pinpointing specific geographical zones of concern.
Landbank Analytics has meticulously compiled data mapping areas with high property sale prices and transaction volumes across Cyprus from January to October 2025. This analysis highlights distinct market segments, with specific locations attracting different buyer profiles and investment levels. The Akamas region in Paphos stands out for luxury real estate, featuring an average sale price exceeding €646,000. Significant transaction values in the high-end market were also recorded in Paphos Municipality and Geroskipou.
Conversely, municipalities such as Larnaca and Nicosia are attracting buyers with more moderate budgets, as indicated by their high transaction volumes. Larnaca Municipality recorded the highest number of transactions nationwide, followed closely by Nicosia Municipality. The Limassol district, however, demonstrated exceptional overall sales value, surpassing €737 million. Germasogeia district within Limassol alone contributed €351.5 million to these sales, with an average price of €583,905.
The district of Larnaca offers more affordable property options, with average prices generally falling between €200,000 and €220,000. The government's forthcoming bill, expected by summer, aims to consolidate various proposals and address the national security implications of foreign property ownership. A unified legislative approach is anticipated, with the hope of a parliamentary vote before the body adjourns for the May legislative elections. The comprehensive data from Landbank Analytics is expected to inform these vital discussions, providing policymakers with empirical insights into the real estate market and foreign holdings.