Consultancy firm Ask Wire has conducted a new study analysing sales of high-end property in Cyprus and identifying the largest real estate transactions completed between January and June 2026.
Limassol Remains the Main Hub for High-End Property
The total value of the 10 most expensive properties reached €161.7 million. The largest transaction took place in Limassol, involving agricultural plots in the village of Moni, Limassol district, sold for €55 million. Limassol also led in the number of high-value transactions, accounting for 6 of the 10 sales agreements, with a combined value exceeding €117 million. These included:
- a plot of land in Parekklisia worth €19.3 million;
- a plot of land in Potamos Germasogeia worth €14.5 million;
- an office in Agios Athanasios worth €10.7 million;
- a plot of land in Potamos Germasogeia worth €8.9 million;
- an office in Agios Athanasios worth €8.8 million.
Three transactions with a combined value of €35.5 million were completed in Paphos. These included an apartment in Kato Paphos sold for €13 million and two plots of land in Peyia sold for €9.5 million and €13 million. One further high-value property transaction was completed in Larnaca, where a plot of land in Chrysopolitissa was sold for €9 million.
When the largest transactions are examined separately by district, Limassol's dominance becomes even more evident. The 10 most expensive sales in the city were valued at €148.2 million, representing 51.7% of the total value of the 50 largest transactions on the island. By comparison:
- Paphos — €68.8 million, or 24% of the total value;
- Nicosia — €26.7 million;
- the government-controlled areas of Famagusta — €21.4 million;
- Larnaca — €21.2 million.
Overall, the combined value of the 50 most expensive property transactions reached €286.4 million.
Why Investors Are Choosing Land
The analysis shows that 7 of the 10 most expensive transactions involved the purchase of land and development sites. This indicates that developers continue to actively build up land banks for future projects. Most of the acquired plots are located in prestigious areas with strong development potential. According to analysts, these sites are likely to be used in the coming years for the construction of:
- luxury residential developments;
- hotels and resort properties;
- mixed-use commercial developments.
At the same time, strong interest in modern office buildings remains. This is linked to Cyprus' continued ability to attract international companies, technology start-ups, investment funds and businesses opening regional offices on the island.
Geopolitical Factors Affected Market Activity
According to Ask Wire CEO Pavlos Loizou, 8 of the 10 largest transactions were completed in the first quarter of 2026. In the second quarter, activity among major investors declined somewhat. Experts cite continued uncertainty related to the conflict in the Middle East as one of the reasons, as it is affecting the decisions of international investors and the timelines of major projects. Nevertheless, the fundamentals of the Cypriot property market remain strong. Foreign demand continues to support the luxury residential, commercial property and land segments, particularly in Limassol, Paphos and Larnaca.
Despite external risks, the Cyprus property market remains resilient. The Central Bank of Cyprus previously reported rising apartment prices, while the number of transactions in 2026 remains high. Buyer interest continues to focus primarily on energy-efficient residential developments, coastal property and land for new projects.
Experts expect Limassol to retain its status as the island's main investment hub in the second half of 2026. However, Larnaca and Paphos are also expected to continue strengthening their positions, supported by major infrastructure projects, tourism development and growing interest from foreign buyers.