Mortgage in Cyprus: Your Dream Home Is Closer Than You Think

Many buyers assume that buying property in Cyprus means paying the full price upfront. In reality, a mortgage in Cyprus for foreigners and EU residents can make owning a seaside home or holiday apartment much more achievable.

Down Payment and Loan Terms

The down payment depends on the type of property:

• holiday homes — from 30%

• investment properties — from 40–50%

Mortgage terms in Cyprus usually go up to 20 years (or until you turn 65), with both fixed and floating rates available.

Cyprus Mortgage Interest Rates

Mortgage rates are linked to the European Central Bank (ECB):

• holiday homes in Cyprus: ECB + 3.3%

• investment properties: ECB + 4%

• fixed rates for 3 years: around 5.9%–7%

The ECB sets a base rate, and banks in Cyprus add their own margin. For example, if the ECB rate is 4.25% and the bank margin is 3.3%, your total mortgage rate will be 7.55%. If the ECB rate drops, your mortgage rate may go down too.

Additional Costs

Life insurance, property insurance, and standard bank fees are mandatory.

Mortgage in Cyprus for Foreign Buyers

Yes, foreigners can get a mortgage in Cyprus. Depending on your situation: residence permit, income proof, or tax residency, it is possible to qualify, though terms are always individual.

Final Thoughts

Buying property in Cyprus with a mortgage isn’t an unreachable dream, it can be your path to owning a place in the sun.