The residential property market in Cyprus continues to show strong growth. In May 2025, 1,664 transactions were recorded, a record high since 2007. In comparison, in May 2024, the number of transactions was 1,268, an increase of 30%. These sales include not only residential properties, but also commercial, industrial, agricultural properties and land.
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Key factors driving market development
Key reasons for this growth include:
- Slowdown in property price growth noted in the Bank of Cyprus’ Q4 2024 report.
- Speeding up the processes of issuing building and planning permits.
- Lower mortgage interest rates, which now average around 3.78%, make loans more affordable.
Sales dynamics by districts
Every district in Cyprus showed growth in sales in May 2025:
- Limassol: 525 transactions (+18%);
- Larnaca: 369 transactions (+37%);
- Nicosia: 369 transactions (+26%);
- Pathos: 304 transactions (+44%);
- Famagusta: 77 transactions (+54%).
Results for the first five months of 2025
Since the beginning of 2025, 7,185 properties have been sold in Cyprus, an increase of 15% compared to the same period in 2024 (6,231 transactions). The sales data by area is as follows:
- Limassol: 2,281 transactions (+14%)
- Nicosia: 1,655 transactions (+17%)
- Larnaca: 1,554 transactions (+19%)
- Paphos: 1,371 transactions (+11%)
- Famagusta: 324 transactions (+19%)
Market forecasts and prospects
Despite the positive dynamics, the Cyprus residential property market remains sensitive to external factors. The economic situation, changes in interest rates, geopolitical events and the behavior of foreign investors will influence the further development of the sector.
However, improved administrative processes, lower mortgage rates and increased investor interest suggest that 2025 will be one of the best years for the Cyprus property market in recent years.
