Enquiries rise 327% as Middle East investors looks for alternatives
The conflict in the Middle East and the closure of EU rivals’ residency programmes mean that global property investors are increasingly attracted to Cyprus, according to Helen Mercer-Jones, managing director of investment firm ERE Property.
She said that internationally mobile entrepreneurs and high-net-worth individuals holding a UAE base in particular were reassessing their options and looking towards the country, with a 327% increase in enquiries from the Middle East since the beginning of March.
She said: “Over the past decade the United Arab Emirates, particularly Dubai, has become one of the world’s most attractive destinations for expatriates seeking tax efficiency, global connectivity, and a high standard of living. However, recent conversations with our client base indicate a clear shift in thinking.”
As well as the 327% increase in enquiries from the Middle East, Mercer-Jones said sales to non-EU buyers have increased by 23%.
“Many expatriates who relocated to the UAE for tax-free living are now actively exploring alternative jurisdictions, but crucially they do not want to return to the UK,” she said.
Reduced options
Mercer-Jones said options had reduced in Europe after Portugal closed the property route on its Golden Visa programme in October 2023 and Spain ended its Golden Visa in April 2025.
Meanwhile, Greece raised its property thresholds significantly in 2024, with minimum investment in Athens, Thessaloniki and several Greek islands now set at €800,000.
“In contrast, Cyprus is now the only major EU Mediterranean country still operating an open property-linked residency route on broadly its original terms,” she said.
Cyprus residential property prices rose 7.1% year-on-year in the fourth quarter of 2025, according to the Cyprus Statistical Service, while the Cyprus Department of Lands and Surveys shows that 7,255 properties were sold to foreign buyers in 2025 – a 16% increase on 2024 and the third-highest total on record. Total real estate transaction value across the Cypriot market reached a record €6.5 billion in 2025, according to PwC Cyprus.
“For overseas buyers, Cyprus combines several features that no other major EU Mediterranean country currently matches,” said Mercer-Jones. “The corporate tax rate is 15%, one of the lowest in the EU, and new tax residents qualify for a non-domicile regime that means no tax on dividends, interest or rental income for 17 years. Plus, there is no inheritance tax, no wealth tax and no annual property tax.”
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