Cyprus Property Market Continues Upward Trend Despite Slower Growth in May

The Cyprus property market maintained its strong momentum during the first five months of 2026, with property sales increasing by 11.9% compared to the same period last year.

According to the Department of Lands and Surveys, a total of 8,043 property sale contracts were deposited between January and May 2026, up from 7,185 transactions recorded during the same period in 2025. The market also remains significantly stronger than pre-pandemic levels, with sales activity standing 66% higher than in 2019.

Limassol Leads While Larnaca Shows Strongest Long-Term Growth

Limassol remained Cyprus’ largest property market, recording 2,537 transactions in the first five months of the year, representing an annual increase of 11.2%.

Nicosia followed with 1,749 sales, reflecting steady year-on-year growth of 5.7% and more than double the transaction volume recorded before the pandemic.

Larnaca continued to be one of the market’s standout performers, reaching 1,747 sales and posting a 12.4% annual increase. Compared to 2019, property transactions in Larnaca have surged by 160.7%, marking the strongest long-term growth among all districts.

Paphos delivered the highest annual growth rate in 2026, with sales rising by 19% year-on-year to 1,631 transactions. The district continues to attract strong domestic and international demand, reinforcing its position as one of Cyprus’ most dynamic property markets.

Famagusta also recorded solid performance, with sales increasing by 17% compared to the same period last year.

Mixed Performance in May

In May alone, property sales across Cyprus rose by 4.8%, reaching 1,723 transactions compared to 1,644 in May 2025.

Paphos recorded the strongest monthly growth, with sales jumping 24%, followed by Larnaca with a 14% increase. Limassol also posted modest growth of 2%.

However, not all districts experienced gains. Nicosia saw sales decline by 12% year-on-year, while Famagusta recorded an 8% decrease during the month.

Despite the slower pace of growth in May, the overall market remains resilient, supported by sustained demand across key regions and transaction volumes that continue to exceed pre-pandemic levels.