February 3, 2023

Athens News

News in English from Greece

The number of Russians wishing to buy property in Cyprus has increased by almost 15%

In the past 2022, the demand of Russians for Cypriot real estate increased, having increased by 14.67% over 11 months. Greece is in the top ten leading countries in terms of investment attractiveness.

Compared to the same period in 2021, from January to November 2022, demand increased, but in November the dynamics began to decline, according to Skolkovo Realty data provided by Lenta.ru:

“During the period from January to November 2022, the demand for the purchase of property in Cyprus increased by 14.67% compared to the same period in 2021. At the same time, despite the observed growth, in November this year, the demand for the purchase of real estate in Cyprus was 31.3% lower than in October. Two months in a row before that, the number of applications increased.”

At the same time, according to the analysts’ report, demand in November 2022 was 1.5 times higher than the data for the same month of 2020. At the same time, the main criterion was the budget of the transaction – this factor was guided by 68.9% of buyers.

On December 12, TASS, referring to data from a study by the international real estate broker Tranio, reported that Cyprus was among the top ten most popular countries for Russians to invest in overseas real estate. The leaders were Turkey, the UAE and Georgia, the top 10 also included Spain, Greece, Thailand, Montenegro, France and Indonesia.

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