Ask Wire has published a new report analyzing high-end property sales in Cyprus, highlighting the largest transactions made in April 2025.
Compared to the previous month, activity in the luxury property market significantly declined. At the same time, investor interest shifted toward land assets, particularly in prestigious areas of Cyprus.
In fact, 6 out of the top 10 deals in April 2025 involved land plots. The most expensive property, as in the previous month, was sold in Nicosia — a plot of land in the Engomi area for €3.3 million. Another major land deal in the capital involved a plot in Strovolos, sold for €1.65 million.
Meanwhile, Paphos led in the number of luxury transactions, with 4 out of 10 top deals taking place there, including:
- Two villas in Peyia priced at €2 million and €1.9 million;
- Two land plots in Peyia priced at €1.68 million and €1.5 million.
Limassol accounted for three transactions:
- A land plot in Mouttagiaka sold for €1.8 million;
- A land plot in Agios Tychonas sold for €1.4 million;
- A commercial building in Kapsalos sold for €1.3 million.
The April list was rounded off with a land plot in the Aradippou area of Larnaca, sold for €1.7 million.
In total, the 10 most expensive deals amounted to €18.4 million.
According to Ask Wire, 50 properties priced over €500,000 were sold across Cyprus in April, totaling €43.8 million — a 52.8% decrease compared to March.
This included:
- 22 houses
- 20 land plots
- 6 apartments
- 1 apartment building
- 1 commercial property
Interestingly, Limassol once again ranked first in Cyprus in terms of total value of luxury property transactions.
26% of the total sales value came from the city’s top 10 deals, followed by:
- Paphos (25.3%)
- Nicosia (24.7%)
- Larnaca (14.4%)
- Free areas of Famagusta (9.6%)
In terms of euros:
- Limassol's 10 most expensive deals totaled €11.4 million
- Paphos — €11.1 million
- Nicosia — €10.8 million
- Larnaca — €6.3 million
- Free Famagusta areas — €4.2 million
"Despite previously maintaining a stable presence in the luxury segment, Larnaca lagged significantly behind competitors in April. Limassol, too, showed muted activity compared to usual standards — with two properties sold for under €1 million, and the rest not exceeding €1.8 million. The April downturn may be seasonal, but it also reflects increased caution among buyers, especially amid concerns over property overvaluation. More and more, what defines a property as ‘luxury’ is not just the price, but location, property type, and development potential,” commented Ask Wire CEO Pavlos Loizou.
April 2025 marked a moment of recalibrated expectations in Cyprus’s luxury real estate market.
Despite the slowdown, the market remains active and adaptive. The growing focus on land investment and changes in transaction structure could indicate an emerging trend — a shift from buying finished homes to developing new projects.