Economy

Cyprus property market top €2.5bn in 2025, apartments lead

By: SigmaLive English

Date:

Apartments dominate residential sales

Cyprus’ property market 2025 recorded strong performance, with the total value of new residential sale contracts exceeding €2.5 billion, according to the latest Landbank Analytics report.

The analysis, based on contracts submitted to the Department of Lands and Surveys throughout 2025, covered newly built apartments and houses, including off-plan developments across the island.

A total of 7,819 contracts were filed during the year. Apartments accounted for 6,382 transactions (81.6%) worth €1.77 billion, while 1,437 house sales (18.4%) reached €737.9 million.

District trends shape the market

In Nicosia, 2,171 new residential sales were recorded, dominated by apartments with 1,836 transactions. Apartments generated €349.6 million, while houses reached €105.5 million. The district remained the most affordable, with average apartment prices around €190,000 and houses near €315,000.

Limassol led nationwide activity with 2,207 transactions and the highest overall values. Apartment sales produced €824.1 million, while houses reached €157.9 million. Average apartment prices exceeded €425,000 and houses averaged €583,000, reinforcing the city’s status as Cyprus’ main investment hub.

Larnaca posted 2,020 new transactions, with apartments again dominant. Apartment sales totalled €353 million and houses €96.3 million. Average prices stood near €200,000 for apartments and €385,000 for houses, highlighting the district’s competitive positioning.

Luxury and tourism influence coastal districts

Paphos recorded 1,078 transactions and ranked second in total value at €503.2 million. Unlike other districts, house sales value (€287.8 million) exceeded apartments (€215.4 million). Average house prices reached about €710,000, the highest in free Cyprus, while apartments averaged €320,000.

Famagusta showed the lowest transaction volume, with 343 sales. It was the only district where houses (176) outnumbered apartments (167). House values totalled €90.4 million compared with €32.4 million for apartments. Apartments averaged €194,000, while houses exceeded €513,000, reflecting strong demand for holiday and coastal properties.

Apartments remain the market’s engine

Commenting on the findings, Andreas Christophorides, chief executive of Landbank Group, said apartments clearly drive Cyprus’ residential sector, representing more than four-fifths of all transactions.

He noted that Limassol leads apartment pricing, Paphos dominates premium housing, and Nicosia remains the backbone of domestic demand due to affordability and stability. Larnaca continues strong activity with competitive prices, while Famagusta’s pattern reflects its focus on holiday residences and high-end coastal developments.

Christophorides added that Landbank Analytics closely tracks these trends to support informed and targeted investment decisions.

Also read: Non-performing loan ratio steady at 2.1% in November
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