Cyprus Property Market

Cyprus is one of the more popular real estate markets in the world. Activity in the real estate market in Cyprus is brisk, including foreign nationals who buy and sell real estate Non-Cypriots have been involved in all areas of the real estate market. Foreign nationals have been found to invest in commercial, investment and residential real estate in all areas of the country.

Most industry experts maintain that the real estate market in Cyprus should continue to do a brisk business well into the coming decade. With the entry of Cyprus into the European Union, more and more foreign nationals from EU member states likely will become involved in the Cypriot real estate market.

There are no prohibitions on foreign nationals purchasing real estate in Cyprus. However, and as will be discussed in greater detail shortly, a foreign national must obtain prior permission from a Cypriot governmental agency in advance of making the purchase of real estate in that country. Generally speaking, this approval is relatively easy to obtain — although the process of obtaining the permission can be rather time consuming