According to the latest data from the Central Bank of Cyprus (CBC), the overall residential property price index continued to rise year-on-year in the first quarter of 2025, despite a slowdown in the growth of apartment prices. However, the Nicosia area was the only one to record a real fall in house prices.
The overall residential property price index, which includes both houses and apartments, rose 1.9% in the quarter , compared with 0.4% in the final quarter of 2024. Houses rose 1.8% and apartments rose 1.4% .
On an annual basis, overall price growth in the first quarter of 2025 was 4.8% . House prices were particularly strong, rising 5.6% , while apartments slowed to 3.5% . This is the first time since 2008 that annual house price growth has outpaced apartment prices.
Prices by districts
| City | General increase in prices | House prices | Apartment prices |
| Limassol | 5.7% | +9.1% | +2.6% |
| Pathos | 12.9% | +12.7% | +13.8% |
| Famagusta | 7.3% | +8% | +7.2% |
| Larnaca | 5.9% | +6% | +7.1% |
| Nicosia | 0.7% | -1.2% | +3.1% |
The Central Bank also noted an increase in the number of transactions, both among local and foreign buyers. The number of sales documents submitted in Cyprus in the first quarter of 2025 increased compared to the same period in 2024. The influx of foreign investors, according to experts, is closely linked to the continuing trend of rising residential property prices in most areas.
The number of building permits, traditionally used as an indicator of activity in the construction industry, showed a moderate increase in 2024 compared to the previous year. According to the European Commission’s economic reports, the construction index remained in positive territory for the sixth consecutive quarter in March 2025.
This confirms that supply is gradually expanding , which could balance the market in the future, especially in areas with the most rapid price increases.
