Real Estate Information
Why Choose Cyprus Real Estate
Cyprus has always been a magnet to foreign homebuyers due to its plethora of business and lifestyle advantages.
The Growth of Cyprus Real Estate
Over the past few years the Cyprus real estate market has seen significant growth, this has been fuelled by a number of factors including the introduction of non-domicile status and additional tax incentives.
Cyprus Attracts Talent and Investment
The relocation of high-level staff to ensure substance, the highly attractive immigration programs and of course early investors that recognise the island’s significant growth potential.
23% ↑ Tourism
In 2022, tourism accounted for 23% of Cyprus’s Gross Value Added (GVA) by sector. Historically, tourism has been the primary engine of growth for Cyprus. The allure of “sun & sea” has been instrumental in drawing tourists. To further enhance this, the Cyprus government is focusing on promoting tourism throughout the entire year and elevating what the country offers to visitors.
16% ↑ Real Estate Transaction
Real estate and Construction activities contributed 16% of the GVA 2022 . €5,7 bln
worth of transactions wererecorded in 2022. Limassol had the highest share with circa €2,5bln, followed by Paphos with circa €1,1bln. Foreing purchasers account for 41% of real estate transactions in 2022.
6% ↑ Economic Contribution
Real Estate in the real economy grows by 6%. In 2022, the real estate sector injected €3.5 billion into the Cyprus economy, surpassing the contributions from both the Financial and Insurance sectors and the Manufacturing industry.
