Newsroom
Cyprus’ property market delivered an unexpected boost in March, defying concerns that regional conflict would drag demand down.
With war tensions running high in the region, many expected a slowdown, especially from foreign buyers. Instead, the market held steady, largely thanks to strong local demand, offering a dose of cautious optimism for the months ahead.
The numbers tell the story.
A total of 1,719 property sales were recorded across Cyprus in March 2026, up 10.3% from 1,559 sales in the same month last year. Even more telling, new sale contracts, an indicator of future activity, jumped 18%, reaching 1,761 compared to 1,491 a year earlier.
The total value of transactions also edged higher, reversing a dip seen in February. Property deals in March were valued at around €414.7 million, up about 3% from €402.6 million in March 2025.
Districts show mixed picture
Across the island, performance varied.
Nicosia led in volume, recording 551 sales, up 13.6% year-on-year. But while more properties changed hands, the total value of transactions fell by 8.7%, suggesting slightly lower-priced deals. Still, new contracts surged by 30%, pointing to continued momentum.
Limassol followed a similar trend. Sales rose by 14.6% to 433, but total transaction value dropped by 10.2%. At the same time, new sale contracts climbed 20%, signaling that interest remains strong despite softer investment values.
Larnaca stood out for its all-around growth. Sales increased by 14.4% to 382, while transaction values rose by 14.1%. New contracts also grew by 16%, making it one of the few districts to post gains across the board.
Paphos told a different story. Sales slipped by 6%, but the total value of transactions jumped by more than 35%. In simple terms: fewer deals, but bigger ones, likely reflecting higher-value properties changing hands.
Famagusta saw modest movement in sales, up 7.2% to 104 transactions. However, the total value of deals surged by 54.5%, and new contracts skyrocketed by 59%. Still, market observers note this sharp rise is partly due to weak performance in March last year, meaning the district is largely returning to normal levels rather than breaking new ground.
Local demand steps in
What stands out most is who is driving the market.
With foreign demand under pressure due to geopolitical uncertainty, local buyers appear to have stepped in to keep the market moving. That shift has helped cushion the impact and maintain overall stability.
While it’s too early to say whether this momentum will last, March’s performance suggests the property sector remains more resilient than expected, even in uncertain times.
