Property OwnershipProperty Legal Information
In comparison to many other countries the process of purchasing property in Cyprus by foreigners is very simple. Non Europeans are entitled to a freehold ownership of 1 villa, 1 apartment or 1 piece of land, with a maximum area al-lowed of 4014 sq.m (four thousand and fourteen square metres).
Europeans are entitled to a freehold ownership of 1 villa or 1 apartment. The above restriction, in respect of Europeans, will hopefully soon be abolished because of the Cyprus entry into the EU. It is very possible that such a change in the legal system will increase demand of real estate sharply with the related reflection on property prices. In respect of plots of land, Europeans can purchase as many and for as much area as they like. This was one of the changes which took place because of the entry of Cyprus into the EU.
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