According to the 60th quarterly RICS/KPMG Cyprus Property Price Index report, the property market is showing steady growth in the first quarter of 2025. The largest increases are seen in the prices of apartments, houses and office space, while commercial properties such as retail space continue to decline in price.
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Real Estate Sales Prices: Year-over-Year Changes
When compared to last year’s data, the latest figures show a significant increase in the number of sales of apartments ( +3.88%) , offices ( +2.84%) and houses ( +2.00%) . The growth in warehouse sales was insignificant ( +1.04%) , while for commercial real estate a slight decrease in sales was recorded ( -0.05%) .
Vacation Home Prices
Vacation properties are also showing positive dynamics:
- holiday apartments : +1.40%;
- holiday homes : +0.35%
Rental cost per year
Rent growth in the first quarter of 2025 is particularly noticeable in the office and residential real estate sectors:
- apartments : +2.87%;
- at home : +2.51%;
- offices : +4.39%;
- warehouse space : +1.27%;
- holiday apartments : +1.56%;
- holiday homes : +2.26%;
- commercial real estate : -0.92%.
Compared to last year, profitability dynamics were very insignificant, with the exception of a noticeable change in the office space sector.
- apartments : -0.05%;
- houses : +0.02%;
- offices : +0.08%;
- warehouse space : +0.01%;
- holiday apartments : +0.01%;
- holiday homes : +0.05%;
- commercial real estate : -0.05%.
Market Analysis
The Cyprus economy remains resilient despite global economic challenges and geopolitical instability. Residential property, especially apartments and houses, continues to attract local and foreign investors due to steady growth in prices and rental rates.
Index Methodology
The RICS/KPMG Price Index uses data on hypothetical properties with specific characteristics. Prices are calculated by RICS certified specialists and the methodology is based on international measurement standards.
