Interest in Cyprus grows from conflicts and insecurity, Israelis buy properties and consider it a ‘Plan B

Over the past three years, an increasing number of Israelis have made property purchases and investments in Cyprus, with many even relocating permanently to the island.

According to DW, the instability in Israel and the persistent sense of insecurity following the attacks of October 7, 2023, and subsequent conflicts have driven a growing influx of Israelis to the Republic of Cyprus. For a significant portion of them, the neighboring island is shifting from a tourist and investment destination to a permanent residence, and in some cases, a backup alternative if conditions in Israel deteriorate further.

An Israeli citizen who recently bought an apartment in a large residential complex in the Limassol region of Cyprus said he wanted a safety alternative in case life in Israel became even more complicated. Another noted the geographical proximity and familiarity with the island: “It’s only 40 minutes away by plane, with the same landscape and climate. It gives you the feeling of being in Israel without actually being there.”

A third person justified his relocation for business reasons, emphasizing that many Israeli firms have moved part of their operations to Cyprus, simplifying their trade relations with European Union countries. The Republic of Cyprus has a population of less than one million. According to estimates reported by Israeli media, at least 3,000 Israeli families now reside permanently in Cyprus, with this number growing by several hundred each year. Israeli media also report that tens of thousands of Israelis have purchased properties on the island. The daily newspaper “Israel Hayom” has reported that around 20,000 Israelis own properties in Cyprus, although they do not live there year-round.

Statistics from the Cyprus Land Registry presented to parliament show that from 2021 to 2024, 3,851 property transfers and sales contracts with Israeli buyers were registered, just in the coastal districts of Larnaca, Paphos, and Limassol. However, Israelis’ interest in Cyprus is not limited only to apartments and holiday homes but also extends to land purchases, tourism developments, and large investment projects.