Cyprus’ property market continues to show positive momentum and remains one of the island’s most resilient economic sectors. According to data from the Department of Lands and Surveys, 1,723 property sale contracts were registered in May 2026, representing a 5% increase compared to May of the previous year.
The growth in activity confirms strong demand for property purchases among both local residents and international buyers. Despite global economic uncertainty and persistently high interest rates in many countries, Cyprus remains an attractive destination for investment, relocation, and the purchase of a second home by the sea. Demand is particularly strong in the island’s coastal regions, where foreign buyers continue to play a key role in driving market growth.
Local Buyers Remain the Main Driving Force of the Market
Cypriot residents continue to account for the majority of property transactions. In May, Cypriots purchased 1,081 properties, representing 62.7% of all registered transactions. For comparison, 1,055 purchases were recorded in May 2025, marking a 6% increase.
The strongest growth among local buyers was recorded in Paphos, where the number of transactions increased by 34% to reach 147. Limassol and Larnaca also posted solid growth of 8%, with 368 and 256 transactions respectively.
Not all districts experienced the same trend. In Nicosia, purchases declined by 13% to 281 transactions, while the free areas of Famagusta recorded a 37% drop, with only 29 sales completed.
Looking at the first five months of 2026, the picture is even more positive. Growth in domestic demand was recorded across all districts. The free areas of Famagusta led the way with a 22% increase in sales. Limassol posted growth of 11%, Larnaca 8%, while both Paphos and Nicosia recorded increases of 4%. These figures suggest that housing demand among local residents remains strong, particularly in areas offering developed infrastructure and good prospects for permanent living.
EU Buyers Are Returning to the Market
The most impressive growth in May came from citizens of European Union member states. The number of transactions completed by EU buyers increased by 31%, reaching 241 compared to 184 during the same month last year.
Paphos remains the leading destination for European buyers. Property purchases in the district surged by 83%, reaching 88 transactions. Strong growth was also recorded in the free areas of Famagusta, where sales rose by 82% to 20 transactions, and in Larnaca, where purchases increased by 50% to 54 properties.
In Nicosia, activity among EU buyers increased only slightly, while Limassol was the only district to record a decline, with transactions falling by 18% to 56.
Statistics for the January–May period show that the positive trend remains intact. Purchases by EU citizens increased by 46% in Paphos, 31% in Larnaca, and 19% in Nicosia. Activity in Limassol remained largely unchanged, while the free areas of Famagusta recorded a modest 6% decline.
Experts attribute the growing interest among EU citizens to Cyprus’ freedom of movement benefits, favorable tax environment, high quality of life, and relatively affordable property prices compared to many Western European countries.
Non-EU Buyers Continue to Show Strong Interest
Demand from buyers outside the European Union remains consistently strong. In May, 401 transactions were recorded compared to 405 a year earlier. The slight decline of just 1% effectively indicates that interest in Cypriot real estate remains stable.
The most significant decrease was recorded in Nicosia, where purchases fell by 27% to 19 properties. Limassol experienced a 6% decline, with 109 transactions completed. In Paphos, the decrease was minimal at just 3%, bringing the total to 141 sales.
Meanwhile, Larnaca continues to gain popularity among international buyers. The number of purchases there increased by 13%, reaching 110 properties. In the free areas of Famagusta, sales rose by 10% to 22 transactions.
Most importantly, the first five months of 2026 recorded double-digit growth in property sales to non-EU buyers across every district of Cyprus. This confirms that international demand remains one of the market’s primary support factors.
Among the most active buyers are traditionally citizens of the United Kingdom, Israel, Lebanon, Ukraine, Russia, China, and several Middle Eastern countries, many of whom view Cyprus as a destination for living, investment, and capital preservation.
Paphos Leads Foreign Demand
The latest figures once again confirm Paphos’ special position within Cyprus’ property market. The district continues to attract both European buyers and purchasers from non-EU countries.
In May, the number of properties purchased by non-EU buyers exceeded the number acquired by Cypriot residents. Moreover, the combined number of transactions involving foreign buyers was more than double the volume of purchases made by local buyers.
This performance is driven by several factors. Paphos offers a wide selection of new residential developments, a well-developed tourism infrastructure, an international airport, high levels of safety, and an attractive Mediterranean lifestyle.
For investors, another important advantage remains the strong demand for both long-term and short-term rentals, supported by the tourism sector and the growing number of foreign residents.
May’s statistics demonstrate that Cyprus’ property market continues to grow steadily thanks to a combination of strong domestic demand and sustained interest from international buyers.
For prospective purchasers, this serves as a reminder that attractive properties in popular locations continue to find owners quickly.