As reported yesterday, property sales in Cyprus continued their upward trend in May 2026, extending the steady growth seen across the real estate market over the past year.
According to the latest figures from the Department of Lands and Surveys, a total of 1,723 property sales contracts were deposited during May, representing a 5% increase compared with the same month last year.
While Cypriot buyers remained the largest group in the market, overseas purchasers continued to play a significant role, particularly in coastal districts where foreign demand remains a major driver of activity.
The chart below shows the year-to-date position of each market segment dating back to 2008. Note that it wasn’t until 2018 that the Department of Land & Surveys produced separate figure for EU and Non-EU buyers. Before 2018, all foreign purchases were recorded together as “Overseas Sales Contracts” combining both groups.
Domestic buyers remain the market’s largest segment
Cypriot purchasers accounted for 1,081 property sales in May, representing 62.7% of all transactions completed during the month. This compares with 1,055 sales in May 2025, an increase of 6%.
Performance varied considerably between districts. Domestic sales declined in Nicosia, where transactions fell 13% to 281, and in Famagusta, where sales dropped 37% to 29.
However, stronger activity elsewhere more than offset those declines. Paphos recorded the largest increase, with sales rising 34% to 147. Limassol and Larnaca also posted gains of 8%, reaching 368 and 256 sales respectively.
Looking at the first five months of 2026, all districts recorded higher domestic sales compared with the same period last year. Famagusta led the way with growth of 22%, followed by Limassol at 11%, Larnaca at 8%, while Paphos and Nicosia both reported increases of 4%.
EU buyer activity surges, led by Paphos
Property purchases by European Union citizens recorded the strongest growth of any market segment during May.
EU buyers deposited 241 sales contracts, up 31% from the 184 recorded in May 2025.
Paphos remained the most popular destination for EU purchasers, with transactions soaring 83% to 88 sales. Famagusta also experienced strong growth, with sales increasing 82% to 20, while Larnaca recorded a 50% rise to 54 sales.
Nicosia saw a modest increase in activity, while Limassol was the only district to record a decline, with sales falling 18% to 56.
Year-to-date figures show continued momentum among EU buyers. Paphos leads the market with a 46% increase in sales compared with the first five months of 2025, followed by Larnaca at 31% and Nicosia at 19%. Limassol remained largely unchanged, while Famagusta recorded a 6% decline.
Non-EU demand holds steady despite minor decline
Sales to non-EU buyers eased slightly during May, falling by just 1% year-on-year.
A total of 401 sales contracts were deposited by non-EU purchasers, compared with 405 during the same month in 2025.
The largest declines were recorded in Nicosia, where sales fell 27% to 19, and Limassol, where transactions slipped 6% to 109. Paphos also recorded a small decline of 3%, with 141 sales.
In contrast, Larnaca continued to attract growing overseas interest, posting a 13% increase to 110 sales. Famagusta also reported growth, with sales rising 10% to 22.
Despite the slight monthly decline, non-EU demand remains robust. Year-to-date figures show double-digit increases across all districts during the first five months of 2026, underlining the continued importance of international buyers to the Cyprus property market.
Overseas buyers continue to shape key regional markets
Foreign buyers remain a dominant force in several areas of Cyprus, particularly in Paphos.
The district continues to attract significant interest from both EU and non-EU purchasers. During May, non-EU buyers purchased more properties than Cypriots, while combined sales to overseas buyers were more than double the number of transactions completed by domestic purchasers.
The latest figures reinforce the ongoing appeal of Cyprus among international investors and lifestyle buyers, with overseas demand continuing to provide a substantial contribution to overall market activity despite economic uncertainty in several global markets.
The May data highlights a market that remains resilient, supported by both domestic demand and sustained interest from foreign buyers, particularly in the island’s most popular coastal locations.
