Newsroom
Foreign buyers signed more than 41% of all property sale contracts in Cyprus during the first seven months of 2026, meaning two out of every five deals now carry a foreign name.
The 41.3% share is the highest recorded in four years of Land Registry data and is up from 39.2% during the same period last year. Foreign purchases increased by 20.3%, comfortably outpacing the 14.1% growth recorded across the property market as a whole.
July was also the busiest month for foreign property contracts in the four-year series.
For Cypriots trying to buy their first home, particularly in coastal districts, the figures confirm what many already suspect: they are not competing only against other local families. They are also bidding against a growing international market that may arrive with more cash, greater borrowing power or a budget built around much higher property prices abroad.
For existing homeowners, however, the same demand can make a property easier to sell and potentially attract more interested buyers.
Paphos takes the lead
Paphos has replaced Limassol as the island’s biggest market for foreign buyers, recording 1,667 foreign sale contracts between January and July, an increase of 28.4% from a year earlier.
The district first overtook Limassol in 2024 and has continued to pull ahead.
Larnaca is the quieter surprise. Foreign purchases there rose by 24.4%, strengthening its position as another fast-growing coastal market.
Limassol, long considered the centre of Cyprus’ international property boom, presents a more complicated picture. Its overall property market remains highly active, but the number of foreign contracts is still slightly below its 2023 level. In other words, the district’s latest growth is not being driven mainly by a fresh surge of overseas buyers.
Nicosia remains the exception to the coastal pattern. Its property market is still overwhelmingly dependent on local demand, placing buyers in the capital under less direct pressure from the international market than those searching in Paphos, Limassol or Larnaca.
It is not simply the British and Russians
The familiar assumption is that foreign demand in Cyprus is dominated by British and Russian buyers. The Land Registry figures do not support such a simple conclusion.
Non-EU nationals still account for the majority of foreign sale contracts, but their share has fallen for three consecutive years, from 72.6% in 2023 to 66.1% in 2026.
EU buyers are the faster-growing group. Their purchases rose by 23% this year, compared with an 18.9% increase among buyers from outside the bloc.
There is, however, an important gap in the data. The Land Registry does not divide non-EU buyers by individual nationality, so the figures cannot show how many came from Britain, Russia, Israel or any other particular country.
No sign of a sudden tax-driven rush
Several major tax changes across Europe had been expected to make Cyprus more attractive to wealthy foreign residents and investors.
Portugal ended its non-habitual resident tax scheme, Italy increased its flat tax for wealthy newcomers and Britain abolished its non-domiciled tax status. Cyprus also removed stamp duty from January 2026.
But an examination of the dates shows no sudden jump in Cyprus property contracts following any one of those changes.
Foreign sales have instead risen year on year for six consecutive quarters and across every district. That points to steady, long-term demand rather than a brief rush caused by one tax decision.
More contracts than completed homes
One figure should give off-plan buyers pause: 1.86 foreign sale contracts are now being signed for every completed property handover, the widest gap recorded in four years.
That does not automatically mean projects will be delayed or fail. It does, however, show that sales are running well ahead of completed deliveries.
For anyone considering an apartment or house that exists mainly in plans and glossy computer images, checking the developer is therefore essential. Buyers should examine permits, financing, previous projects, construction timelines and contractual protections before paying a deposit.
The broader figures also need to be read carefully. They show who is signing contracts, but not what buyers are paying, whether they plan to live in the property or how much foreign demand is contributing to higher prices.
Still, the direction is clear. Cyprus property is attracting foreign buyers faster than the market is growing overall, and the strongest pressure is being felt exactly where many Cypriots also dream of buying: near the coast.
*With information from Delfi properties
