Cyprus sees more than 2,000 property sales in July

Limassol and Paphos drive over 70 per cent of Cyprus property market expansion Cyprus’ property market remained firmly on an upward path in July, with sale contracts passing 2,000 in a single month and activity exceeding last year’s levels in every month of 2026 so far. A total of 2,040 sale contracts were lodged with Land Registry offices during July, up 11 per cent from 1,832 a year earlier, according to the latest official figures. July was the strongest month of the year, exceeding the 1,964 contracts recorded in June. It was also the first month in 2026 in which the national total crossed the 2,000 mark. Consequently, contracts filed between January and July reached 12,047, compared with 10,561 during the same period of 2025, representing growth of 14 per cent and an additional 1,486 contracts. The more detailed monthly figures show that the market has remained consistently above last year’s levels. Sales rose by 11 per cent in January, 12 per cent in February, 18 per cent in March, 15 per cent in April and 5 per cent in May. Growth then accelerated to 27 per cent in June, before settling at 11 per cent in July. However, much of the increase has been concentrated in Limassol and Paphos. Together, the two districts accounted for more than 70 per cent of the additional contracts recorded nationwide during the first seven months. Limassol remained the largest market, with 695 contracts in July, up 20 per cent from 579 a year earlier. Although this was below June’s total of 727, June had produced an exceptional 64 per cent year-on-year increase, the strongest monthly rise recorded by any district during the period. Overall, Limassol recorded 3,959 contracts between January and July, compared with 3,304 a year earlier, an increase of 20 per cent. The district contributed 655 of the 1,486 additional contracts registered across Cyprus. Meanwhile, Paphos recorded 395 contracts in July, up 15 per cent from 342. Its seven-month total increased by 20 per cent to 2,387, from 1,995. Paphos recorded its only annual decline in March, when sales fell by 4 per cent. However, this was followed by increases of 41 per cent in April, 24 per cent in May, 28 per cent in June and 15 per cent in July. Larnaca delivered a steadier performance, with sales remaining above their 2025 levels in every month. Contracts reached 436 in July, up 10 per cent, while the seven-month total rose by 11 per cent to 2,599. The district’s strongest monthly increase came in April, at 21 per cent. Activity in Nicosia was unchanged during July, with 423 contracts, compared with 422 a year earlier. The department rounded the annual change to zero. Nevertheless, the capital’s seven-month total rose by 5 per cent to 2,564. Its performance varied considerably during the period, ranging from a 30 per cent increase in March to a 12 per cent decline in May. Famagusta also showed two different pictures. Sales rose strongly at the beginning of the year, including a 59 per cent increase in March, but declined by 8 per cent in May, 1 per cent in June and 3 per cent in July. Despite the recent weakness, its seven-month total remained 10 per cent higher, reaching 538 contracts compared with 487. The figures point to a market expanding at two different speeds. Every district remained in positive territory over the seven months, but Limassol and Paphos grew four times faster than Nicosia. Meanwhile, the Central Bank (CBC) reported that residential property prices increased by 7.5 per cent year-on-year in the first quarter, supported by strong demand and elevated labour and construction costs. Sales to foreign investors rose by 21.1 per cent during the first four months, compared with growth of 9.3 per cent among local buyers. Finally, at the higher end of the market, Cyprus’ 50 largest transactions during the first half were worth €286.4 million, with Limassol accounting for 51.7 per cent of the total value, according to an Ask Wire analysis.