Why now? Cyprus is set to join the Schengen Area by the end of 2026. This will make travel around Europe easier for resident foreigners living on the island, as they will enjoy visa-free travel within the Area. More broadly, it is a positive development that cements Cyprus’s EU membership and makes the island more attractive to international relocators and investors.
Meanwhile, 2026 will be final year you could benefit from Cyprus’s favourable 5% VAT rate on qualifying new-build properties. It allows certain properties (depending on planning permit dates) to attract 5% VAT on up to 200 sq. meters, with no limits on the value of the property. Applications for eligible properties need to be submitted by 15 June, 2026. New, less favourable rules for VAT on new-builds are already running concurrently.
Property hot spots: Paphos, both city and district, is popular with expats in the west, while Larnaca and Famagusta are slightly more affordable areas in the east. Limassol is a modern, urban option in the centre of the island.
Property prices: From €175,000 for resale apartments, €275,000 for townhouses and small houses, €450,000 for new villas, with prices reaching €2million upwards.
If you are seriously thinking of relocating to Cyprus, or buying a holiday home, we at Home Search Overseas are here to help you every step of the way.
Explore all our latest Properties for Sale in Cyprus here