Strong Market Momentum in Early 2025
Cyprus property sales rise 12% in early 2025, showing clear momentum across the island. According to the Department of Land and Surveys, 5,541 property transactions were recorded between January and April—up from 4,963 during the same period in 2024.
In April alone, 1,404 sales took place across the country, marking a 3% increase compared to 1,366 in April last year.
Limassol and Nicosia Drive Activity
Limassol remained the top performer with 461 sales in April, up 5% year-on-year. Over the four-month period, the district saw 1,756 transactions—12% higher than the 1,563 recorded last year.
Nicosia also posted robust results. Sales increased by 15% in April to 354 properties, up from 308. The capital mirrored this growth in its four-month totals, rising from 1,121 to 1,286 transactions.
Mixed Results Across Coastal Districts
Larnaca saw an 11% decline in April sales, dropping from 309 to 275. However, its four-month performance improved by 15%, from 1,032 to 1,185 deals.
Paphos also experienced a dip in April with 238 sales, down 6% from 252 the year before. Still, the district saw a 4% increase in total transactions from January to April, rising to 1,067.
Famagusta stood out with the highest growth in April. Sales jumped 33% from 57 to 76. Over the full four months, transactions rose 12%, from 221 to 247.
Apartment Prices Drop, House Prices Stay Steady
According to a separate report from Landbank Analytics, the average price of newly built apartments in Cyprus fell over 11% in 2024, down from €316,000 to €281,000. In contrast, average house prices remained stable at €461,000.
Price Trends by Region
In Nicosia, apartment prices dropped by 3.8% to €190,000, while houses fell 5.7% to €314,500.
In Limassol, apartments dropped 9.4% to €426,000, but houses increased 4.4% to €557,000.
Larnaca saw apartment prices hold steady at €196,000, while houses dropped 8.5% to €340,000.
Paphos had the steepest apartment decline at 20.3%, falling to €312,000, while houses rose 3.6% to over €590,000.
Famagusta was the only district where both categories rose—apartments by 5.2% to €222,000, and houses by 15% to €367,500.
Buyers Shift Toward Affordable Options
Landbank CEO Andreas Christophorides said the drop in average apartment prices reflects a shift in buyer priorities.
“There’s a clear reduction in sales of high-end residential units. Local buyers are seeking affordable homes, and foreign investors are showing greater interest in lower-priced properties—especially in areas like Limassol,” he explained.
Cyprus property sales rise 12% in early 2025, supported by healthy demand and regional growth. While some districts show price corrections, overall market activity remains strong, pointing toward an adaptive and resilient real estate sector.
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Source: Cyprus Mail
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