The Cypriot luxury property market showed clear signs of a slowdown in April 2025, with top-tier real estate sales falling significantly in value.
According to real-time data from Ask Wire, a property analytics company, the 10 most expensive transactions across Cyprus totaled €18.4 million, while the top 50 deals amounted to €43.8 million. This represents a 52.8% decrease in high-end property sales compared to March 2025.
The most expensive deal involved a €3.3 million land plot in Engomi, Nicosia, showing that interest in the capital remains strong, despite the broader dip.
Limassol Leads, But Competition Is Tight
Limassol, Paphos, and Nicosia continued to dominate the luxury segment. Among the top 10 sales, Paphos accounted for 4, Limassol for 3, Nicosia for 2, and Larnaca for 1.
Limassol slightly edged out the others in total value, reaching €11.4 million, followed closely by Paphos (€11.1M) and Nicosia (€10.8M). Larnaca trailed with €6.3M, and Famagusta contributed €4.2M.
Although Luxury Property Sales Drop in April, transaction volume at the lower end of the high-end market remained active. Two of Limassol’s top 10 properties sold for less than €1 million, with the rest priced just below €1.8 million.
Changing Market Dynamics
Only 18 of the top 50 properties were sold for more than €1 million. This shift indicates a redefinition of what counts as “luxury” in today’s market.
Land purchases gained ground, with 6 of the top 10 deals involving land plots. Overall, the breakdown of the top 50 sales included:
- 22 houses
- 13 land plots
- 7 building plots
- 6 apartments
- 1 apartment block
- 1 commercial unit
Conclusion
April marked a clear cooling period for the luxury real estate sector in Cyprus. While transaction values declined, regional activity remained competitive and demand for land investments rose. With Luxury Property Sales Drop in April, the market appears to be shifting—both in price brackets and in buyer preferences.
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Source: Cyprus Property News
