Home ownership in sunny Cyprus appears to have lost none of its shine since the start of 2026. During the first three months of the year appetite for property on the Mediterranean island has been the strongest in recent years, with purchases by locals and international buyers close to historic highs.
This is according to recent stats from Cyprus’s Department of Lands and Survey (DLS), which show continued momentum off the back of a very robust 2025. Last year, the island’s market enjoyed record-high property transaction values of €6.5billion, a hike of 8% on 2024.
Pundits might have expected a dip in the market after the Iran crisis kicked off at the end of February. But in March alone, property contracts received by Cyprus’s Land Registry were up 18% compared to 2025. All eyes will be on data for the second quarter and whether there is any ripple effect from the situation in the Middle East.
Contents
Strong start to 2026 for Cyprus property
Proof of Cyprus’s bullet-proof appeal, property transactions in March were close to levels not seen since the record year 2007. This is based on DLS figures for sales contracts registered at the Land Registry (covering all property types), which totalled 1,761 in March 2026 compared to 1,903 in 2007. It also represents an 18% hike on last year.
Looking at the first quarter of 2026, the first two months also registered year-on-year increases. January was up 11% and February 12%. Of the total 4,709 sales filed at the Cypriot Land Registry during the quarter, 57% were attributed to Cypriot buyers and 43% to foreigners. Looking closer, 67% of foreign buyers were from outside the EU, which points to Cyprus’s popularity with British people. All in all, the international market remains hugely important to the island.
Lifestyle and low tax attract UK buyers
Barry Winter, a Sales & Business Development director at leading Cypriot developer Pafilia agrees. He told Your Overseas Home: “Cyprus has seen a significant increase in UK residents choosing to retire there over the past two to four years.
“There are several reasons for this growing trend, with lifestyle and taxation being the most important factors. Pension income can be taxed at a flat rate of just 5%, which makes the island an extremely attractive lifestyle destination for retirees.”
All districts in Cyprus enjoyed increased sales levels in Q1 compared to last year. With 1,499 contracts registered across the district and a 16% year-on-year hike, Limassol attracted the highest number of transactions. In second place was Nicosia (1,065 and 14%), then Larnaca (994 and 9%), Paphos (919 and 11%) and Famagusta (232 and 36%).
Key Cyprus property trends from 2025
This heightened activity in property sales hasn’t come out of the blue. Newly released data confirms the Cypriot market had a bumper year in 2025. Across the board sales grew year-on-year in value and volume, reaching the highest level in at least a decade. The number of foreign buyers hit double-digit growth and new building permits increased too.
According to PwC’s 2025 Cyprus market report, around 15,900 residential units were sold on the island last year. This was a 7% hike on 2024. Of the entire market (including land and non-residential), they generated around €4.5billion, a 10% rise on 2024.
Foreigners command 25% of the market
Cyprus’s popularity with foreigners goes from strength to strength. The number of properties bought by non-Cypriots jumped 16% year-on-year in 2025. They accounted for 7,255 property purchases across Cyprus, reported PwC, equating to a meaty 46% of the island’s residential market (in volume) or 28% of the total market (including non-residential).
The district proving the most popular with overseas buyers right now is Paphos. Racking up 2,363 sales, it attracted 32% of all foreign purchases last year and 17% more than in 2024. Limassol is overseas buyers’ second favourite district with 28% of the foreign market, thanks to its 2,033 sales. Then comes Larnaca with 25% (1,793 sales), Nicosia with 9% (638 sales) and Famagusta with 6% (428).
Paphos popular with retirees
“Paphos has emerged as the primary destination for UK retirees,” explained Mr Winters at Pafilia. “Accessibility is a major fact in this popularity. Paphos International Airport offers excellent year-round connectivity with the UK.
“Within the Paphos district, several areas have become especially popular with British buyers. These include Konia, Tala, and Peyia (Pegeia), which are well-established communities offering excellent amenities and elevated positions with attractive views. Coastal and more tranquil regions such as Polis, Argaka, and Latchi are also highly sought after, particularly by retirees looking for a relaxed lifestyle.”
Apartments fuelling Cyprus property market
Demand for apartments has been driving much of the growth in Cyprus over the past year. Circa 11,000 units were sold in 2025, a 9% rise on 2024. Meanwhile, sales of houses rose by 4% to circa 4,900 units (PwC).
The average price paid for an apartment across the island was €248,000 in 2025 (up from €240,000 in 2024). Around 72% were bought for less than €250,000 and 23% between €250,000 and €500,000. Meanwhile, the average house sale cost €356,000 last year (up from €346,000). Around 35% were sub €250,000 and 34% between €250,000 and €500,000.
More apartments were sold in Limassol than any other district, which also has the highest average price. Looking at houses, Paphos attracted the highest number of sales and has the highest average price.
| District / Stats | Average apartment price | Average house price | Total apartments sold | Total houses sold |
|---|---|---|---|---|
| Limassol | €403,000 | €414,000 | 3,081 | 1,124 |
| Nicosia | €177,000 | €244,000 | 2,995 | 1,097 |
| Larnaca | €178,000 | €269,000 | 2,808 | 951 |
| Paphos | €230,000 | €466,000 | 1,632 | 1,273 |
| Famagusta | €150,000 | €352,000 | 431 | 461 |
More developments in the pipeline
All things being well, this momentum is set to continue for the foreseeable future. New building permits issued in Cyprus between January-October 2025 increased by 9% to 6,490 compared to 2024. In value terms, this was a 28% year-on-year hike.
Limassol and Nicosia were home to the largest concentration of new permits granted for developments (34% respectively), followed by Larnaca (19%).
Off-plan property in Cyprus
Leading developer Pafilia has a selection of off-plan developments on offer in Cyprus. This includes its Coral Vista range in Paphos, where entry-level villa prices currently start from approximately €490,000 plus VAT.
“These properties are designed and built to suit individual requirements,” continued Mr Winter at Pafilia. “They offer full flexibility in layout, finishes, and specifications, allowing buyers to create a truly personalised luxury home.
“Purchasing off-plan also provides a significant financial advantage. Clients can retain more of their capital in the short term. We are increasingly seeing clients prioritise forward planning and financial flexibility. This staged payment approach is a key benefit compared to ready properties, where the full investment is typically required at the beginning of the process.”
What to do next
Ready to speak to an expert and start your search for a property in Cyprus? Get in touch with the team at Your Overseas Home. One of our specialists will chat through your plans and connect you with an affiliated estate agent or developer, as well as all the other essential service providers needed for a successful property purchase or new life in Cyprus.
Frequently Asked Questions
Yes – buying property in Cyprus remains popular in 2026, with Q1 sales close to historic highs. Demand has stayed strong among both local and international buyers, and foreign purchasers still make up a large share of the market. In our experience, that continued demand is one reason Cyprus stays high on the list for UK buyers weighing up a move abroad.
Many UK buyers are drawn to Cyprus property because of the climate, straightforward links to the UK and a tax regime that can work well for retirees. Paphos, in particular, continues to appeal to British buyers who want an established international community and year-round access. That said, it’s still worth checking tax residency and pension rules before you commit.
Paphos remains the most popular district in Cyprus for foreign buyers, followed by Limassol and Larnaca. Paphos tends to attract retirees and second-home buyers, while Limassol often appeals to buyers looking for a larger city market and newer developments. The right area depends on whether you want convenience, year-round living or a quieter base.
Apartments are currently driving much of the Cyprus property market, with sales rising faster than houses in 2025. They tend to suit buyers who want a lower entry price, a lock-up-and-leave setup or a modern new-build. Houses still have strong demand too, especially in Paphos, where buyers often look for more space and outside living.
