Can a Pole get a mortgage in Cyprus?

Mortgages in Cyprus are also available to Poles who are not permanent residents of the island. However, this doesn't mean that banks will treat someone earning an income in Poland in exactly the same way as they would a client living and working in Cyprus.

The decisive factors will be income, its stability and currency, existing liabilities, the value of the property being purchased, and the amount of one's own funds. There is also no single rule regarding down payment that applies to all foreigners – the conditions depend on the bank, the type of property, and the specific client's profile.

Mortgage in Cyprus also for non-residents

The most important answer is: yes, it is possible.

Some Cypriot banks explicitly offer mortgage products to people who are not permanent residents of the Republic of Cyprus.

An example is Eurobank, whose holiday home loan is intended for both permanent and non-permanent residents of CyprusThe Bank informs about the possibility of financing up to 70% of the property value, with the final terms depending on the customer's assessment.

This means that the often repeated rule that every foreign buyer must automatically have 40% of the property price in cash cannot be accepted.

In a specific case, the required deductible may be higher or lower.

Living in Cyprus? The possibilities are greater.

The situation is different for a person who is already a permanent resident of the island.

Bank of Cyprus offers financing for the purchase of your first home up to 80% of the property valueHowever, this product is intended for persons who are permanent residents of Cyprus.

In the case of a holiday home, the Bank of Cyprus offers financing of up to 70% of the value.

Therefore, Polish citizenship itself is not the most important factor.

For the bank it will be much more important that where the client lives, where he works and in what currency he receives his salary.

Income from Poland does not preclude the loan

A Pole living in Poland must prepare for a more thorough examination of their financial situation.

Cypriot regulations require that before granting a mortgage loan, the bank assesses the creditworthiness of the client and checks whether he will be able to repay the loan regularly.

The bank will therefore analyze primarily:

• the amount and stability of income,
• form of employment or source of income from business activity,
• existing loans and other liabilities,
• the client's financial history,
• property value,
• amount of own funds,
• the currency in which the client receives income.

The last point may be of particular importance for a person earning in zlotys and taking out a loan in euros.

Even the Bank of Cyprus digital loan application form asks directly whether the applicant is a permanent resident and whether their income is earned in euros.

How much does a home loan cost these days?

Data from the European Central Bank show that in April 2026 the average interest rate on new loans for the purchase of an apartment or house in Cyprus was 3.18% per year.

For the so-called pure new loans, i.e. only genuinely new contracts without renegotiated existing loans, the average was 3,10%.

However, these values should not be treated as an offer that a specific customer will automatically receive.

These are statistical averages for the entire market.

The actual offer for a Pole living in Poland may be different due to the risk profile, type of property, equity and source of income.

For example, the Bank of Cyprus also published rates for specific loan variants in its product tables that significantly differed from the market average.

Fewer and fewer new loans have variable interest rates from the outset.

The way real estate is financed is also changing.

According to the Central Bank of Cyprus, at the beginning of 2022, almost all new housing loans were linked to variable interest rates.

In March 2026, the share of such loans had already dropped to 12,2%.

The central bank indicates that this may be related, among other things, to the popularity of offers in which the interest rate remains fixed for the first 3–5 years and then switches to a variable interest rate.

For the buyer, this means that they should not compare offers solely on the basis of the first quoted rate.

You also need to check, what happens to the interest rate after the fixed period ends.

How much of your own money do you need?

There is no single answer for every Pole.

If the bank finances up to 70% of the property value, the buyer must cover at least the remaining 30% from their own funds.

But this is only the beginning of the calculations.

You also need to take into account legal and banking costs, property valuation, any fees associated with establishing security, as well as taxes and other costs of the transaction itself.

In the case of new properties, VAT may also be relevant.

Therefore, a person planning a purchase for €300,000 should not assume that exactly €90,000 will be enough just because a bank would be willing to finance 70% of the value.

Additional reserves will be needed.

The bank also looks at its property valuation

This is another detail that is easy to forget.

The declaration "we finance up to 70% of the property value" does not necessarily mean 70% of the price entered in the contract with the developer or seller.

The bank performs its own assessment of the collateral.

If an apartment costs €300,000, but the bank values it lower, it can calculate the maximum financing amount based on its accepted value.

The difference must then be covered by the buyer.

Therefore, credit should be part of the planning process. before signing a binding purchase agreement, not a problem to be solved later.

When it comes to off-plan properties, you need to be careful with the schedule.

This is particularly important when purchasing off-plan properties, i.e. properties that are still under construction.

The developer may require further payments as construction progresses while the bank conducts its own analysis of the borrower, property documents and collateral value.

Both schedules must be consistent with each other.

Banks are providing solutions for properties under construction. For example, Eurobank announces the possibility of a grace period of up to 12 months on capital repayments for homes under construction.

This does not mean, however, that the bank will automatically adjust to every payment schedule prepared by the developer.

Mortgages are not a niche in the Cypriot market

The scale of the market shows that securing real estate financing with a mortgage is common in Cyprus.

According to the Department of Lands and Surveys in In January 2026, 953 mortgages worth approximately EUR 415 million were registered, and in February another 1,024 worth approximately EUR 249.4 million.

In total, this gives 1977 mortgages worth approximately €664.45 million in the first two months of the year alone.

However, the statistics cover all registered mortgages, not only loans taken out by individuals to purchase apartments.

Therefore, it cannot be identified with the value of housing loans themselves.

First the bank, then the house search?

Of course, you don't have to wait to view offers until you receive the final credit decision.

But before serious negotiations with a developer or landlord, it is worth knowing at least:

whether the bank is ready to finance a person of our status, what equity contribution it expects and what approximate budget it accepts.

This is especially important for a person living in Poland.

A property may cost €250,000, but the bank may consider that, given the income, liabilities, and currency of a particular client's salary, a safe credit level is much lower.

Then the problem is not finding the property, but the financing structure.

Can Poles get a loan? The shortest answer

Yes.

Polish citizenship in itself does not prevent you from obtaining a mortgage loan for real estate in the Republic of Cyprus.

Moreover, there are products on the market that are also available to people who are not permanent residents of Cyprus.

However, one must take into account a more individual assessment than in the case of a person living and receiving a salary on the island.

Therefore, the most reasonable order is: First, determine the realistic budget, required equity and financing options, and only then make binding decisions regarding a specific property.

Sources: European Central Bank, Central Bank of Cyprus, Department of Lands and Surveys, Eurobank Cyprus, Bank of Cyprus, Consumer Protection Service