In comparison to many other countries the process of purchasing property in Cyprus by foreigners is very simple. Permission to buy property must be sought from the Municipality by written application, which must be submitted by the non-Cypriot purchaser after the agreement is signed. However, this permission is granted more or less as a matter of course to all bona fide purchasers. In the meantime, however, purchasers may take possession of their property without restriction. The application to the Municipality to acquire immovable property in Cyprus can be made within a reasonable amount of time after signing the contract of sale.

EU citizens are allowed to purchase however much property they choose and do not require permission to buy. Legal entities established in EU countries that hare their headquarters and registered office in Cyprus, do not require permission to buy any immovable property. Legal entities established in Cyprus and controlled by citizens of the EU require permission to buy immovable property in Cyprus as well as any other legal entities.
Non Europeans are entitled to a freehold ownership of a villa, an apartment or a piece of land, with maximum allowed extend of 4014 sq.meters (four thousand and fourteen square meters).

Properties in Cyprus are on average 20% - 30% lower in prices than Portugal, 30% - 40% lower than Spain and 50% - 60% lower than Italy and France.