The residential property market in Cyprus shows a steady growth in sales despite price changes in different areas. From January to April 2025, the total number of transactions increased by 12% compared to the same period last year.
According to the Land Department, 1,404 property sales were registered in April 2025, up 3% from the same month in 2024. Key figures by district:
- Limassol : leads with 461 transactions (+5% compared to April 2024), in 4 months – 1,756 transactions (+12%).
- Nicosia : 354 transactions in April (+15%), for 4 months – 1,286 transactions (+15%).
- Larnaca : 275 transactions in April (-11%), but 15% growth in 4 months (1,185 transactions).
- Pathos : 6% decrease in April (238 transactions), 4% increase over 4 months (1,067 transactions).
- Famagusta : highest growth in April – 33% (76 transactions), in 4 months +12% (247 transactions).
Real estate prices
In 2024, the average price of new apartments in Cyprus fell by more than 11% to €281,000, while house prices remained stable at €461,000. Changes by area:
- Nicosia : apartments €190,000 (-3.8%), houses €314,500 (-5.7%).
- Limassol : apartments €426,000 (-9.4%), houses €557,000 (+4.4%).
- Larnaca : apartments €196,000 (stable), houses €340,000 (-8.5%).
- Paphos : apartments €312,000 (-20.3%), houses €590,000 (+3.6%).
- Famagusta : apartments €222,000 (+5.2%), houses €367,500 (+15%).
The fall in prices is due to a change in buyer preferences. Locals are increasingly choosing more affordable properties, while foreign investors are focusing on mid-priced properties, which is especially noticeable in Limassol.
