Cyprus’ real estate landscape has undergone a fundamental shift. What was once seen as a unified property market is now divided into five distinct regional economies, each with its own pricing patterns, buyer types, and investment dynamics.
As a developer based in Paphos, we’ve seen first-hand how the local market has evolved into one of Cyprus’ most dynamic investment zones.
According to fresh data from Landbank Analytics, this evolution is more than just geographic – it reflects a maturing market. From Limassol’s record-breaking residential prices, to Paphos’ rising demand for apartments and premium houses, and Famagusta’s unusual dominance in field transactions, each district is moving at its own pace, shaped by local demand and investor behavior.
The numbers are telling: second-hand homes continue to anchor the market, but the volume and value of apartment sales far exceed houses. Meanwhile, the land sector – especially plots and fields – has surged, reaching over €360 million in transaction value in just six months.
In this article, we’ll explore:
The regional differences in property demand and pricing
Which areas are trending with investors vs. permanent residents
How land, residential, and commercial sectors are evolving in 2025
If you’re considering investing in Cyprus real estate this year, understanding these district-level dynamics is critical. Let’s dive into the data and see what each region has to offer.
Market Overview & Key Buyer Trends
Cyprus’ property sector has entered a new phase of resilience and flexibility, offering opportunities across a broad range of budgets and property types. Rather than relying on a single national trend, the market now reflects the unique dynamics of each province – a sign of increased stability and investor maturity.
According to Landbank Analytics, buyers and investors in 2025 are responding to local realities. High-end areas like Limassol continue to attract capital due to their international appeal and business infrastructure, while other regions such as Larnaca, Paphos, and Nicosia are experiencing strong demand for affordable, permanent housing – primarily in the apartment segment.
“The market’s ability to adapt, offering multiple choices at different budgets, signals a period of maturity and stable opportunities,”
says Andreas Christoforides, CEO of Landbank Group.
This flexibility is evident in the performance of second-hand residential properties, which remain the backbone of the market. In just the first half of 2025:
€190.3 million was generated from 552 house transactions
€185 million came from 1,162 apartment sales – more than double the number of houses
This imbalance reflects clear buyer behavior: affordable housing is in high demand, particularly among residents and rental investors. Despite lower average prices, apartments are moving faster and in larger volumes than houses, signaling a robust base of demand.
Meanwhile, land sales – both plots and fields – have surged, as investors look beyond built property for long-term potential and strategic location plays. This emerging trend reinforces the island’s appeal not just for immediate occupancy, but for development-focused investment as well.
Regional Breakdown - Where Buyers Are Shopping & What They’re Paying
The latest data paints a clear picture: each province in Cyprus has developed its own property identity, with wide-ranging differences in both buyer behavior and price levels. Here’s how the five key districts performed in the first half of 2025:
Paphos – Strong Value in the Coastal West
Paphos is favored by foreign buyers and retirees, thanks to its lifestyle appeal and attractive pricing.
Apartment sales: 203 | Average price: €130,000
House sales: 90 | Average price: €387,000
Apartments lead in volume, while houses command higher values – making it a hotspot for both budget-conscious investors and luxury seekers.
As a region anchored in lifestyle, affordability, and long-term land value, Paphos offers a rare mix of accessibility and growth potential. With the highest average field prices in Cyprus and continued demand from international buyers, it’s no surprise that many see Paphos as one of the most strategic regions for property investment in 2025 – especially for those looking to combine personal use with capital appreciation.
Nicosia – The Capital’s Affordable Apartment Market
Nicosia’s market remains centered around permanent housing. Apartments dominate with 458 sales, nearly three times more than houses, which logged 163 transactions.
- Average apartment price: €143,000
- Average house price: €284,000
The capital offers stable demand and higher value homes, but apartments continue to attract the bulk of transactions due to affordability and urban demand.
Limassol – Cyprus’ Most Expensive Residential Market
Limassol holds its crown as the island’s premium real estate hub, thanks to its strong economy, international business community, and investor interest.
Average house price: €527,000 (highest in Cyprus)
House sales: 122
Apartment sales: 201
Average apartment price: €260,000
Despite its high prices, Limassol continues to draw buyers seeking long-term value and capital appreciation.
Larnaca – Balanced, Multi-Layered Demand
Larnaca presents a more balanced market, with consistent demand across both apartments and houses.
Apartment sales: 220 | Average price: €142,000
House sales: 126 | Average price: €250,000
This district offers good value for money, particularly for mid-range buyers looking for rental income or permanent residency.
Free Famagusta – Land-Oriented and Tourism-Driven
While overall activity in Free Famagusta is lower, the region shows a unique pattern: land dominates, with far fewer plot sales.
Apartment sales: 80 | Average price: €116,000
House sales: 51 | Average price: €264,000
This province is often targeted for tourism or agricultural investment, with field sales leading the way – a key differentiator from the other districts.
Land Sales Surge - Plots vs. Fields by District
While residential sales remain a key driver in Cyprus’ property market, 2025 has seen a notable spike in land transactions, reflecting investor interest in development opportunities and strategic land acquisition. According to Landbank Analytics, land deals – which include both plots and fields – totaled a remarkable €360.4 million in the first half of the year, spanning 1,130 transactions.
Plots vs. Fields - What’s the Difference?
Plots: Smaller parcels, typically zoned for residential or commercial development.
Fields: Larger tracts of land, often used for agriculture or strategic long-term investment.
Though plots changed hands more frequently (794 sales worth €189.9 million), fields commanded much higher average values, with just 336 sales accounting for €170.5 million. The average field price reached €507,000, compared to €240,000 for plots – highlighting a growing interest in large-scale or location-sensitive investments.
Land Trends by District
Let’s take a closer look at how each region performed:
Nicosia:
341 plot sales, averaging €220,000
83 field sales, averaging €364,000 (highest category value in the capital)
Limassol:
191 plot sales, averaging €305,000
90 field sales, averaging a steep €688,000 – more than double the plot average
Larnaca:
173 plot sales, average €205,000
64 field sales, averaging €416,000 – the highest in this district
Paphos:
Plots averaged €252,000
46 field sales, averaging €847,000 – the highest field value in Cyprus
Free Famagusta:
Fields dominate: 53 field sales at an average of €241,000
Just 12 plot sales, averaging €135,000
In Free Famagusta, the market behaves very differently – field sales far outweigh plots, suggesting a tilt toward tourism development or agricultural investments rather than traditional residential builds.
According to Landbank Group CEO Andreas Christoforides, Paphos and Limassol continue to lead in high-value land sales, while Famagusta stands apart as a distinct investment category driven by land-based opportunities.
Commercial Property Snapshot - Offices & Retail in 2025
While residential and land segments dominate in volume and value, commercial property in Cyprus has held steady through the first half of 2025. Offices and retail units are seeing consistent, if modest, activity – mostly fueled by foreign companies seeking professional workspaces and local entrepreneurs investing in shops.
According to market data, commercial transactions totaled €29.8 million in the first half of the year, split between:
128 shop sales worth €19.2 million
51 office sales worth €10.6 million
Office Market - Stable, But Uneven
Office sales were led by Nicosia, reflecting its role as the administrative and corporate heart of Cyprus:
Nicosia: 30 sales
Limassol: 13 sales
Paphos: 3 sales
Larnaca: 5 sales
Free Famagusta: 0 sales
In terms of pricing, Limassol posted the highest average office value at €303,000, followed by:
Paphos: €212,000
Nicosia: €182,000
Larnaca: €120,000
Free Famagusta had no recorded office transactions in this period.
Shops - Evenly Distributed Across Districts
Retail properties saw a more balanced distribution of activity across Cyprus:
Nicosia: 53 sales
Limassol: 31 sales
Paphos: 25 sales
Larnaca: 13 sales
Free Famagusta: 6 sales
Shop prices were relatively stable across districts:
Larnaca: €129,000 (lowest average)
Limassol: €166,000
Free Famagusta (small sample): €202,000
While not a growth engine, commercial real estate remains a steady pillar of the broader market – offering stable yield and long-term tenant demand, especially in urban centers and tourist zones.
What Investors Should Know Moving Forward
The days of treating Cyprus as a single, uniform property market are over. In 2025, investment success depends on understanding the distinct character of each district – from price levels and transaction types to land use and buyer demand.
This year’s data reveals a property landscape that is:
Diverse – Five regional sub-markets, each moving independently
Mature – Stable demand across price points, with no artificial spikes
Flexible – Attractive to both high-net-worth buyers and value-seeking investors
Data-driven – Investment opportunities are now being shaped by hard numbers, not speculation
Key Takeaways for Investors:
- Limassol remains the high-end favorite, but requires deep capital.
- Paphos offers strong house value and foreign buyer appeal.
- Larnaca provides balance for mid-range investors.
- Nicosia is ideal for stable apartment investments and office demand.
- Free Famagusta stands out as a niche, land-driven play – high risk, potentially high reward.
Meanwhile, land is becoming increasingly attractive, with high average values and strong interest from strategic buyers. Commercial real estate – especially offices and shops – continues to perform steadily, though its growth is more modest compared to residential.
For investors entering the market or expanding their portfolio in Cyprus, regional insight is now essential. Understanding where, what, and why to invest has never mattered more.
Source: Kathimerini Cyprus, based on data from Landbank Analytics (November 2025)
FAQ - Frequently Asked Questions
What is the best place to invest in property in Cyprus in 2025?
It depends on your goals.
For luxury or long-term capital appreciation: Limassol
For value and strong foreign demand: Paphos
For balanced, mid-range investments: Larnaca
For urban rental yield: Nicosia
For tourism or land development: Free Famagusta
Are property prices rising in Cyprus in 2025?
Yes, but moderately. Apartment prices rose by around 4.5% year-over-year, and demand remains strong for both residential and land investments.
What’s the average price of an apartment in Cyprus right now?
Prices vary by district. In the first half of 2025:
Nicosia: €143,000
Limassol: €260,000
Larnaca: €142,000
Paphos: €130,000
Free Famagusta: €116,000
Is land a good investment in Cyprus?
Yes. Land sales reached €360.4 million in early 2025. Fields, in particular, offer high average values – especially in Paphos (€847,000) and Limassol (€688,000) – and are popular for tourism, agriculture, or development.
Can foreign nationals buy property in Cyprus?
Yes. Non-EU nationals can buy property in Cyprus, although there are limits on the number and type of properties. Legal guidance is recommended to navigate the process.
Is the Cyprus property market stable?
The data suggests a mature, stable market with broad demand across price points. High apartment volumes and steady land sales point to long-term confidence among both local and international investors.
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🌍 Thinking About Investing in Property in Cyprus?
Buying real estate in Cyprus is more than just owning a beautiful home – it’s about long-term value, market insight, and choosing the right region to match your goals. Whether you’re investing in a holiday apartment, a rental property, or land for development, making informed decisions is key.
At Luma Developers, we guide you through every step of your property journey – helping you invest smart, stay compliant with 2025 regulations, and choose opportunities with real growth potential.
Our team in Geroskipou is here to help you:
🔷 Explore apartments in Paphos and learn about market trends across Cyprus
🔷 Compare market trends in Limassol, Nicosia, Larnaca & Famagusta
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📞 Call us: +357 97 731133
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If you’re planning to buy or invest in Cyprus, don’t rely on guesswork – let the local experts at Luma help you make the right move.
