Foreign buyers are continuing to strengthen their position in the Cyprus property market, with international demand growing faster than the market overall, according to a report by Delphi Properties.
Between January and July 2026, foreign nationals signed 4,980 contracts of sale, marking a 20.3% increase on the same period in 2025. By comparison, the number of contracts signed by all buyers rose by 14.1% over the same period.
Foreign buyers now account for 41.3% of all contracts lodged in Cyprus, up from 39.2% a year earlier. The latest figures suggest international demand is not simply following the wider market. It is gaining ground.
The recovery has also gathered pace. Foreign contracts fell 14.9% in 2024 before rising 16.1% in 2025. July 2026 then set a new monthly record, with 829 foreign contracts.
EU buyers drive the latest growth
The strongest change is in the mix of foreign buyers. Non-EU buyers remain the larger group, but EU buyers are growing faster.
Non-EU purchases increased 18.9% in the first seven months of 2026. EU purchases rose by 23.0%.
As a result, the non-EU share of the Cyprus property market has fallen from 72.6% in 2023 to 66.1% this year. The report says this shift may make demand less concentrated around changes in one country’s tax rules.
However, the data does not identify individual nationalities within the non-EU group. It therefore cannot show the specific role played by buyers from the UK, Israel, Lebanon, Russia, China or the Gulf.
Paphos leads the foreign buyers market
Paphos is now Cyprus’s largest market for foreign buyers. It recorded 1,667 foreign contracts between January and July, an increase of 28.4% year on year.
EU demand is a major factor. EU purchases in Paphos rose 46.4%, compared with 19.2% growth among non-EU buyers.
Larnaca also recorded strong growth, with foreign contracts up 24.4%. EU purchases there increased by 36.0%.
Limassol tells a different story. Foreign contracts rose 13.6%, but the wider market grew by 19.8%. Foreign buyers therefore lost share despite strong overall activity.
Foreign contracts in Limassol also remain slightly below their 2023 level. The report says the district’s current growth is being driven more by domestic and relocation buyers than by foreign purchasers.
Demand is rising, but delivery is a concern
The report finds no clear evidence that recent tax changes have caused a short-term rush into Cyprus property. Foreign contracts have increased year on year for six quarters, with no visible break around the policy dates examined.
That points towards structural demand, although the report warns that the EU-led growth pattern is only one year old and needs more time to prove itself.
There is another issue for developers and buyers. Foreign property transfers rose only 6.9% in the first seven months of 2026, compared with 20.3% growth in contracts.
There were 2,683 completed transfers against 4,980 contracts. The resulting gap is the widest in four years.
For the Cyprus real estate sector, the next test may therefore be delivery rather than demand. If the gap widens again, buyers may need to place greater focus on developer due diligence and the ability to complete homes on time.
The report says the key indicators to watch are whether Paphos can sustain its rapid EU growth, whether the contracts-to-transfers gap narrows and whether foreign activity in Limassol finally moves above its 2023 level.
(Note: This article is based on a comprehensive report by Delphi Properties entitled ‘Who Is Buying Cyprus? Foreign Buyers 2023–2026′, which includes Department of Lands & Surveys data and the report’s analysis. The report cautions that contracts measure the number of transactions rather than values, so the figures do not show how Cyprus property prices are moving.)
