Within the supertwistor approach, we analyse the superconformal structure of 4D N = 2 compactified harmonic/projective superspace. In the case of 5D superconformal symmetry, we derive the superconformal Killing vectors and related building blocks which emerge in the transformation laws of primary superfields. Various off-shell superconformal multiplets are presented both in 5D harmonic and projective superspaces, including the so-called tropical (vector) multiplet and polar (hyper)multiplet. Families of superconformal actions are described both in the 5D harmonic and projective superspace settings. We also present examples of 5D superconformal theories with gauged central charge.