The Department of Land Resources and Research has published the latest data on property sales in Cyprus to local and foreign buyers for May 2025.
According to official statistics, the real estate sector in Cyprus continues to demonstrate robust recovery. Last month, 1,664 homes were sold in the island nation. Of these, 63% of transactions were made by local buyers and 37% by foreign investors.
eal estate sales in the domestic market.
The real estate sector saw a significant increase in domestic market sales in May 2025, with a 35% growth compared to the same period in 2024. The number of transactions surged to 1,055 from 780, marking a substantial rise in activity. An analysis of sales figures by city reveals an increase across all regions of Cyprus. A total of 341 transactions were concluded in Limassol, marking a 17% increase compared to the previous period. In Nicosia, 322 transactions were completed, indicating a 31% increase. Larnaca recorded 236 transactions, showing a significant 66% growth. Paphos experienced an increase of 38%, with 110 transactions finalized. Notably, the free areas of Famagusta saw a substantial rise of 109%, with 40 transactions being concluded.
Consequently, from January to May of 2025, real estate sales to Cypriots experienced a 16% surge. Concurrently, the number of transactions during the period under review increased in all cities of Cyprus. In Limassol, 1,432 properties were sold in five months, marking an 8% increase. In Nicosia, 1,413 properties were sold, representing a 20% increase. Larnaca saw a 27% surge in sales, with 890 properties sold. Paphos experienced a 7% uptick, with 470 properties sold. The free areas of Famagusta recorded a 25% increase, with 168 properties sold.
It is important to note that the sales figures in this category include a number of "unsold" agreements, such as loan restructuring, debt repayment, and exchange for assets, agreed between banks and borrowers who have defaulted on their obligations. These agreements are part of the banks' efforts to reduce their portfolios of non-performing loans. Regrettably, the Department of Lands and Surveys does not release these figures individually.
Real estate transactions involving foreign investors.
Regarding transactions with foreign investors, there was a 21% increase compared to May 2024, from 488 to 589. Sales increased in all cities in Cyprus except
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- Limassol — 184 (+20%).
- Nicosia — 47 (-2%).
- Paphos — 194 (+48%);
- Larnaca — 133 (+4%).
- There has been a 11% increase in the number of free areas of Famagusta.
From January to May of 2025, annual sales of real estate to foreign investors also saw a 15% increase, rising from 2,450 to 2,812. The highest increases were recorded in Paphos (+13% or 901 units), Limassol (+24% or 849 units), and Larnaca (+11% or 664 units). Following closely behind are Nicosia (+3% or 242 units) and the free areas of Famagusta (+14% or 156 units).
Real estate sales to EU citizens.
In May 2025, real estate sales to EU citizens increased by 17% compared to the same month in 2024. Growth was recorded only in Limassol (+94% or 68 units) and Paphos (+4% or 48 units). All other cities demonstrated negative trends. In the free areas of Famagusta, the number of transactions decreased by 21% to 11 units.
There has been an increase of 10% in the number of units in Larnaca, bringing the total to 36. In Nicosia, there has been a 5% increase, with the current total being 21 units.
From January to May of 2025, real estate sales to EU citizens increased by 29% to 724, compared to 561 in the same period last year. Paphos demonstrated the most successful outcomes, with 251 units sold, marking a 41% increase. The next cities were Limassol and Larnaca, with 38% and 183 units, respectively, and 18% and 131 units, respectively. The free areas of Famagusta also demonstrated robust performance, with 67 units (+56%). Nicosia was the only city where the number of transactions with EU citizens decreased by 6% to 92 units from January to May.
Sale of real estate to third-country nationals
Real estate sales to third-country nationals in May 2025 saw a 22% increase: There was an increase in the number of properties sold, with 405 transactions recorded compared to 331 in May 2024. By city, the figures are as follows:
- In Limassol, there was a 2% decrease in sales transactions, with 166 being concluded.
- Nicosia remains at 26, unchanged from the previous period.
- In Paphos, there has been an increase of 146 cases, representing a 72% increase compared to previous figures.
- In Larnaca, the number was 97, with an increase of 10%.
- In the free areas of Famagusta, there has been a 20% increase, with a total of 43%.
Finally, from January to May of 2025, real estate sales to third-country nationals increased by 10%, from 1,730 to 1,904. Concurrently, the number of transactions during the period under review decreased in the free areas of Famagusta by 3% to 78 units. In the other three cities, there was an increase in figures: 11% to 497 units in Larnaca, 16% to 598 units in Limassol, 12% to 129 units in Nicosia, and 5% to 602 units in Paphos.
This month, a key finding was confirmed: in Paphos, the number of property buyers from countries outside the European Union continues to exceed the number of local buyers. This underscores the region's ongoing appeal to international investors and those seeking a second or vacation home in Cyprus.
Cyprus has solidified its standing as a premier Mediterranean destination for real estate investment, with steady growth in demand across all regions and market segments. However, despite this positive trend, the situation for the local population, especially young Cypriots, is becoming increasingly tense. Rising prices are making renting, let alone buying, a home virtually unaffordable in popular coastal areas such as Limassol, Paphos, and Larnaca.
For many residents, the sense that Cyprus is being gradually sold off piece by piece is no longer just emotional rhetoric — it is increasingly perceived as a tangible and alarming reality.