The Cyprus property market has been demonstrating steady growth for several consecutive years. After the challenging pandemic period, the sector has fully recovered and reached record-breaking levels. According to the Cyprus Department of Lands and Surveys, the number of property transactions nearly doubled between 2018 and 2025, while the first half of 2026 confirms that the positive momentum continues.
Today, the Cypriot property market remains one of the most active in the Eastern Mediterranean. This is driven by a stable economy, strong interest from foreign investors, ongoing infrastructure development, the construction of new residential projects, and attractive conditions for purchasing property both as a home and as an investment.
How the Cyprus Property Market Recovered from the Pandemic and Reached Record Levels
In 2018, Cyprus recorded 9,242 property sale contracts. By 2019, this figure had increased to 10,366. However, in 2020, the COVID-19 pandemic had a significant impact on the market. The total number of transactions fell by 23.1% to 7,968. Foreign buyer activity declined the most, with sales to non-residents dropping by 33.4%, while the domestic market contracted by 15.3%.
The first half of 2020 proved even more challenging, with transaction volumes falling by 41.2% compared to the same period in 2019. Travel restrictions, border closures, and uncertainty across global markets were the main reasons behind the slowdown. Recovery began in 2021, when the number of transactions increased by 29.9% to reach 10,347.
Growth accelerated further in 2022. A total of 13,409 property sale contracts were registered during the year, representing an increase of 29.6% compared to 2021. Foreign investors became the key driving force behind the market. Sales to overseas buyers surged by 60.6%, while transactions involving citizens of non-EU countries increased by an impressive 82.4%.
The market continued to strengthen in 2023, with 15,567 transactions registered. Despite a slight decline in demand from buyers from EU countries, purchases by citizens of third countries increased by 46%, allowing the overall upward trend to continue.
What's Happening in the Cyprus Property Market in 2025–2026?
Following a slight cooling in foreign demand during 2024, the market accelerated once again. Although purchases by foreign buyers declined by 9.7% in 2024, domestic demand was strong enough to push the total number of transactions to a new all-time high of 15,797, 1.5% above the 2023 level. The year 2025 became the strongest on record during the period under review. The number of registered property sale contracts increased by 14.7% to 18,114. At the same time:
- the domestic market grew by 13.5%;
- sales to foreign buyers increased by 16.5%;
- activity rose among both European Union citizens and buyers from third countries.
The positive trend continued throughout the first half of 2026. During the first six months of the year, 10,007 property sale contracts were registered, compared to 8,729 during the same period a year earlier, representing growth of 14.6%. The domestic market accounted for 5,856 transactions, up 9.6% year-on-year. Foreign buyers purchased 4,151 properties, an increase of 22.5%. Demand from European investors grew particularly rapidly:
- purchases by EU citizens increased by 28.5%;
- transactions involving buyers from third countries rose by 19.6%.
Experts note that strong foreign demand continues to be supported by sustained interest in residential property, investment apartments, seaside homes, and commercial real estate. The most sought-after regions remain Limassol, Paphos, Larnaca, and Nicosia, where new residential developments continue to emerge alongside modern urban infrastructure.
The Cyprus Property Market Is Significantly Larger Than Before the Pandemic
A comparison between the latest figures and those from 2018 clearly illustrates the scale of the market's expansion. In 2018, Cyprus recorded 9,242 property transactions, including 4,875 domestic purchases and 4,367 purchases by foreign buyers. By 2025, the total number of transactions had increased to 18,114. Sales to Cyprus residents reached 10,859, while foreign buyers accounted for 7,255 transactions. The first-half figures are equally impressive. During the first six months of 2018, 4,470 property sale contracts were registered, compared to 10,007 in the first half of 2026.
These figures show that today's Cyprus property market has grown far beyond its pre-pandemic levels, both in terms of domestic demand and international investor interest. According to analysts, the sector's future performance will depend on interest rates, the pace of new housing construction, mortgage affordability, and the overall economic outlook across Europe. At the same time, strong international demand for Cypriot real estate remains in place, allowing the market to remain one of the fastest-growing in the Mediterranean region.