Cyprus property sales soar to €3.7bn

Property transfers in Cyprus reached €3.72 billion in the first nine months of 2026, while deposited sales contracts rose 14 per cent year-on-year to 14,969, according to figures released by the Real Estate Agents Registration Council. The figures, drawn from the department of lands and surveys and analysed by the council, show that property market activity continued to grow between January and September, following a strong performance in 2025. More specifically, the number of sales contracts deposited nationwide increased from 13,173 during the corresponding period last year to 14,969 in 2026. At the same time, the number of completed property transfers rose by approximately 4.1 per cent, while their total value increased by 6.6 per cent to €3.72bn. Commenting on the figures, council president Marinos Kyneyirou said that “despite the particular challenges facing the sector this year, the property market continued to support the growth of the Cypriot economy.” He pointed out that the increases in both the number and value of transactions were particularly significant, considering that they followed an already strong year for the sector in 2025. “Purchasing interest, both from locals and foreigners, remains high, and all signs point to 2026 ending positively for the property sector,” he said. He added that the increase in deposited sales contracts was particularly encouraging, as it pointed towards continued market activity and the launch of new development projects in the coming months. Nevertheless, Kineyirou reiterated the council’s warning to prospective buyers and tenants to exercise caution when choosing estate agents and to report illegal operators. Turning to the performance of individual districts, Limassol maintained its position as Cyprus’ most valuable property market, with completed transfers worth €1.44bn during the first nine months of the year. This represented 38.7 per cent of the total value of property transfers nationwide, despite the district recording 3,808 completed transactions. Limassol also led the country in deposited sales contracts, reaching 4,860, an increase of 17 per cent compared with the corresponding period of 2025. The figures reinforce the district’s importance as a destination for property investment, particularly for larger developments and higher-value projects. While Limassol dominated in terms of transaction value, Nicosia recorded the highest number of completed property transfers, with 4,507 transactions during the nine-month period. Their combined value reached €811.85 million, placing the capital second nationwide in terms of total transaction value. Meanwhile, deposited sales contracts in Nicosia increased by 6 per cent to 3,163, pointing to continued demand in the district, although at a slower rate of growth than in Limassol, Larnaca and Paphos. Paphos also maintained a strong position in the property market, recording 2,699 completed transfers worth a combined €755.5m. Although the district registered fewer completed transactions than Nicosia, Limassol and Larnaca, their relatively high combined value reflects the importance of higher-value properties in the local market. Furthermore, the number of deposited sales contracts in Paphos reached 2,999, representing an 18 per cent increase year-on-year, the strongest percentage growth among Cyprus’ five districts. A similarly picture emerged in Larnaca, where the value of completed property transfers reached €525.1m across 2,876 transactions. However, the district’s most notable performance concerned new sales activity, with deposited contracts climbing 15 per cent to 3,291. This placed Larnaca second nationwide in deposited sales contracts, ahead of both Nicosia and Paphos, emphasising the growing level of buyer interest in the district. Finally, Famagusta remained the smallest property market in the government-controlled areas, with 874 completed transfers worth €192.8m between January and September. Despite its smaller market size, the district also recorded growth in deposited sales contracts, which increased by 5 per cent to 656 compared with the same period last year.