Cyprus Real Estate Market Update: May 2026 Sales Insights

The Cyprus property market maintained its positive momentum in May 2026, continuing a pattern of steady growth that has characterized the past year. Data from the Department of Lands and Surveys reveals that 1,723 property sales contracts were registered in May, marking a 5% increase compared to May 2025.

Domestic Buyers Lead the Market

Local Cypriot buyers accounted for 62.7% of all transactions, with 1,081 contracts signed during May — a 6% rise from the same month last year. While overall sales climbed, district-level performance diverged: Nicosia saw a 13% drop to 281 sales, and Famagusta’s domestic demand declined sharply by 37% to 29 sales.

Conversely, coastal regions outshone, with Paphos witnessing a remarkable 34% surge to 147 sales, while Limassol and Larnaca posted moderate increases of 8%, reaching 368 and 256 sales respectively. When looking at January to May 2026, every district experienced higher domestic sales year-on-year, with Famagusta leading growth at 22%, followed by Limassol at 11% and Larnaca at 8%.

Strong Uptick in EU Buyer Interest

EU nationals displayed the strongest growth among buyer groups, with May sales contracts increasing by 31% to 241. Paphos remained the top choice for EU purchasers, with sales soaring 83% to 88 contracts. Famagusta and Larnaca also recorded significant jumps at 82% and 50% respectively.

While Nicosia saw a slight uptick, Limassol experienced an 18% decrease in EU buyer activity. Year-to-date figures affirm this trend, with Paphos leading at a 46% increase, Larnaca at 31%, and Nicosia rising 19% compared to the same period last year.

Non-EU Buyer Demand Remains Robust Despite Minor Dip

Demand from non-EU purchasers edged down slightly by 1% year-on-year in May, with 401 sales contracts registered versus 405 last May. The biggest declines were in Nicosia (-27%) and Limassol (-6%), while Paphos saw a small 3% dip.

On the positive side, Larnaca and Famagusta reported rising interest from non-EU buyers, up 13% and 10% respectively. Importantly, the year-to-date performance shows strong double-digit growth across all districts for this buyer segment, underscoring the continued importance of international buyers to Cyprus’ property market.

International Buyers Drive Key Coastal Markets

Foreign purchasers remain a dominant force, especially in Paphos, where non-EU buyers outpaced local buyers in May. Combined overseas sales more than doubled domestic transactions here, highlighting Cyprus’ enduring appeal despite global economic uncertainties.

Overall, May’s data paints a picture of a resilient market energized by both strong local demand and sustained foreign interest, notably in prime coastal districts. For those exploring affordable options, check out our listings of Cheap Apartments for Sale Cyprus and Cheap Houses and Villas for Sale Cyprus to find great value in the current market.

Market Segment Overview: Jan-May 2026

Domestic buyers maintain majority share, but the increasing footprint of EU and non-EU purchasers reinforces the diverse and evolving nature of Cyprus real estate. As demand continues to spread across different districts and buyer categories, the market demonstrates a healthy balance of stability and opportunity.