Cyprus Real Estate Market: What is Behind the Numbers?

Q1 2025 report by Cyprus Sotheby’s International Realty

For several years now, Cyprus Sotheby’s International Realty has been conducting a unique, systematic study of the residential real estate market in Cyprus — quarter by quarter, year by year. This ongoing effort reveals more than just numbers; it uncovers the trends shaping the market in the long run.

The first quarter of 2025 offers yet another confirmation: the Cypriot market is entering a phase of maturity. Following a sharp growth period driven by post-pandemic demand and geopolitical shifts, we are now seeing a natural phase of stabilisation. It’s not a downturn, as it may seem — it’s a correction. The market is following its natural cycles: the graph fluctuates slightly up and down, reflecting the evolving behaviour of both buyers and developers.

In Q1 2025, there were 3,558 residential property transactions recorded — a 5% increase compared to the same period last year. The total transaction volume reached €976 million, with 60% (€584 million) coming from the mid- and high-end segments. This once again confirms that quality real estate remains in high demand — both among local and international buyers.

Local Differences Matter

• Limassol continues to lead the way, accounting for nearly half of all transactions in the mid- and high-end* market. The city retains its status as Cyprus’s business and investment capital.
• Paphos stands out as the top choice for those seeking spacious villas and a more tranquil, countryside lifestyle. It recorded 99 sales of homes priced over €500,000 — representing 57% of such transactions nationwide.
• Larnaca is gaining strong momentum. New projects and infrastructure development are driving consistent demand for well-priced modern apartments.
• Nicosia maintains stable interest from both investors and families looking for long-term value and permanent residence.
• Famagusta continues to attract buyers looking for coastal homes in a calm resort setting.

Beyond the Numbers

It’s important to note that official data only includes registered transactions and relies on median values. These figures don’t always reflect the true value of unique properties in premium locations. Some deals are made privately, and the price levels of such homes and apartments can significantly exceed general market averages.

Today, buyers are looking beyond square metres. They’re investing in architecture, privacy, panoramic views, and long-term value. It’s not just a price shift — it’s a fundamental change in mindset.

Looking Deeper, Not Sideways

At Cyprus Sotheby’s International Realty, we believe that only deep, independent market research leads to truly informed decisions. We will continue to share real data and insights with you, helping you track how the market is evolving, not only today, but into the future.

Stay informed on key trends — download the Q1 2025 Insights Report.

Yours sincerely,
Cyprus Sotheby’s International Realty
Local Expertise. Global Vision.

*Mid- and high-end segments include apartments starting from €200,000 and homes from €500,000.