Around 15,000 applications from third-country nationals seeking permits to acquire real estate in Cyprus have been submitted over the past five years, according to Interior Minister Constantinos Ioannou. 

The minister provided the figures in parliament in response to a question by Disy MP, Nikos Georgiou. According to Philenews, most applications were filed in Paphos, which accounted for 5,477, followed by Limassol with 4,316 and Larnaca with 3,479.  

Nicosia recorded 886 applications, Famagusta 816, while just four were submitted in Kyrenia district. 

Applications peaked in 2023, reaching 3,524. 

Ioannou said the competent offices in the provincial administrations examining these cases are typically staffed with only one person, sometimes supported by a second depending on demand.  

On average, the process takes one to two months, though delays can occur due to workload and the need for coordination with other services or with applicants to ensure complete documentation.

Georgiou pointed to the “increased demand for the acquisition of real estate in Cyprus by third-country nationals,” raising concerns about the management of applications, the burden on provincial administrations and the efficiency of the procedure under the acquisition of property (Foreigners) Law (Cap. 109).