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Property in Cyprus

Limassol, Paphos, Ayia Napa — EU, permanent residency for €300K, 0% tax on foreign income

from €200,000Starting price
4-7% long-termYield

Ownership: FREEHOLD + Permanent Residency for €300K (EU)

Cyprus — Limassol, Paphos, the Mediterranean

Market

Property market in Cyprus

Cyprus is an EU island nation in the eastern Mediterranean. It was the leading premium-segment destination for the Russian-speaking audience until 2014, and some of those positions remain. Key hotspots: Limassol (the business capital, with Limassol Marina and its yacht harbour, plus ONE Limassol — the tallest residential tower), Paphos (UNESCO heritage + Coral Bay + Minthis Golf), Ayia Napa (party cluster, Marina Ayia Napa), Larnaca (international airport, quieter), Nicosia (the capital, urban). FREEHOLD ownership, residency through purchase from €300K + annual income from €50K. 0% tax on foreign income. Top developers: Pafilia, Cybarco, Aristo, Leptos. Prices range from €200K in Larnaca to €5M+ for villas in Coral Bay. Rental yield of 4-7% (short-term Airbnb up to 6-10%).

  • Limassol: €4,000-5,500/sqm on average; premium seafront towers €6,000-9,000+/sqm(EstateOfCyprus, 2026)
  • Paphos: €2,500-3,500/sqm (30-50% cheaper than Limassol)(EstateOfCyprus, 2026)
  • PR (Permanent Residence) on purchase from €300,000 + income €50,000/year(Residency Law, art.6(2))
  • 0% annual property tax since 2017(Law №25/2017)
  • Seafront rentals: €13+ per sqm per month; yield 5-8% per annum April-October(Passportivity, 2026)
  • Paphos — №1 for transactions with foreigners: 2,363 in 2024 (32% of the entire market)(Department of Lands Cyprus)

Prices

Price per m² by city and district — Cyprus

LocationPrice per m²Comment
Limassol (centre + seafront)€4 000–5 500business capital, premium towers up to €9,000+ (EstateOfCyprus, 2026)
Limassol (Limassol Marina)€8 000–15 000elite segment
Paphos€2 500–3 50030-50% cheaper than Limassol; UNESCO (EstateOfCyprus, 2026)
Paphos (Coral Bay)€3 500–6 000premium seafront zone
Larnaca€2 000–3 200international airport, quieter
Ayia Napa€2 500–4 000seasonal tourist
Nicosia€1 800–2 800capital, urban segment

Ownership

Ownership for foreigners in Cyprus

Full FREEHOLD for foreigners within the Republic of Cyprus (the southern part). Northern Cyprus (TRNC) is an unrecognised territory — transactions there have no international legal force. A non-EU foreigner completes a purchase through the Council of Ministers (a formal permit, granted to everyone).

  • For PR (residency) — only purchase from a developer, not resale
  • Northern Cyprus — do not buy (no ownership protection)
  • One property per family for non-EU citizens without a special permit
  • Minimum for PR — €300,000 + income €50,000/year + €10,000 per dependant

Source: Immovable Property Acquisition Law (Cap.109)

Taxes

Taxes on purchase and ownership in Cyprus

TaxRateWhen paid
VAT (new build, first home)5%one-off; up to 200 sqm (VAT Law)
VAT (resale/investment)19%one-off on resale and second home (VAT Law)
Transfer fee0,15-0,4%one-off on registration (Land Registry)
Stamp duty0,15-0,2%one-off on the contract (Stamp Duty Law)
Property tax (annual)0%abolished in 2017 (Law №25/2017)
Income tax on rentals20-35% progressivetax-free minimum €19,500/year (Income Tax Law)

Residency

Residency through property purchase in Cyprus

€300,000 + €50,000 annual incomeMinimum investment
2-3 monthsProcessing time

Permanent Residence (Cyprus PR / Cat F): purchase of property from a developer from €300,000 + proof of annual income from €50,000 (€10,000 per dependant). The residency is permanent, requires entry into Cyprus once every 2 years. It covers the spouse, children up to 25 years old, and parents. Citizenship — through 7-8 years of legal residence (the CIP programme was cancelled in 2020).

Source: Residency Law art.6(2), Ministry of Interior of Cyprus

Rental yield

Rental yield by city in Cyprus

CityTypeGrossNet
Limassol (centre)Long-term rental4–6%3–5%
Limassol (Marina)Premium Airbnb5–8%4–6%
PaphosSeasonal Airbnb6–10%4–7%
Ayia NapaSeasonal Airbnb7–10%4–7%
LarnacaLong-term5–7%3–5%

FAQ

Frequently asked questions about buying property in Cyprus

How do you obtain Cyprus residency through real estate?

The Permanent Residence programme (Cyprus PR / Cat F): purchase of property from €300K + proof of annual income from €50K (€10K per family member). Processing time is 2-3 months. The residency is issued indefinitely (Permanent), but requires entry into Cyprus at least once every 2 years. It covers the spouse, children up to 25 years old, and parents.

Can you obtain Cypriot citizenship?

The "citizenship by investment" programme was cancelled in November 2020. Citizenship is now available only through 7 years of legal residence (8 years if you do not work locally) or through marriage to a citizen (3 years). However, Permanent Residence (PR) grants the right to live, study, and access healthcare in the EU.

Limassol or Paphos — which to choose?

Limassol is the business capital, a premium segment with Limassol Marina, the largest concentration of Russians after 2014, and liquidity of 1,499 transactions/year. Paphos is quieter and more cultural (UNESCO), the top choice among foreign buyers (2,363 transactions/year, 32% of all foreign transactions in Cyprus). Pafilia/Aristo/Leptos are concentrated in Paphos. Prices in Limassol are 30-50% higher in the premium segment.

What taxes apply when buying and owning property in Cyprus?

On purchase: VAT 5% (new build, first home) or 19% (resale/investment) + 0.15-0.4% transfer fee + stamp duty 0.15-0.2%. On ownership: 0% annual property tax since 2017. Tax on rental income: a 20-35% progressive scale with a tax-free minimum of €19,500/year. Tax on foreign income (for non-dom PR residents) — 0%.

What are the current risks in Cyprus?

The main ones: 1) Geopolitics — the banking sector was overhauled after 2013 (depositor haircut), it is more stable now but heavily dependent on EU sanctions; 2) The Turkish part of the island (Northern Cyprus) is a separate unrecognised political regime — do not buy there; 3) Changes to the PR programme — thresholds may rise. Protection — choosing the top-4 developers (Pafilia, Cybarco, Aristo, Leptos) and working through a local lawyer.

How much does a square metre cost in Cyprus?

Limassol — €4,000-5,500/sqm (premium seafront towers €6,000-9,000+/sqm). Paphos — €2,500-3,500/sqm (30-50% cheaper than Limassol). Larnaca — €2,000-3,200/sqm. Ayia Napa — €2,500-4,000/sqm (seasonal resort). Nicosia — €1,800-2,800/sqm (urban).

What is non-dom status in Cyprus?

A non-dom (Non-Domiciled) Cyprus resident is a tax status for foreigners: valid for 17 years, with 0% tax on dividends, interest on deposits, and rental income from abroad. It is granted upon residing 60+ days/year + owning a home + having a business/job in Cyprus. The main instrument for entrepreneurs with foreign income.

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