The new real estate market in Cyprus finished the first ten months of 2025 on a very strong note, demonstrating steady growth and high investment activity. The main driver once again was Limassol, which confidently maintained its status as the largest transaction center and the most expensive region of the country. According to Landbank Analytics, the total volume of sales of new apartments and houses from January to October approached the 2 billion euro mark, confirming strong buyer interest in Cypriot housing.
Experts note a noticeable structural shift in the market. More and more transactions involve apartments, while the private housing segment is gradually transforming into a premium category. At the same time, Paphos is strengthening its position as a destination for elite real estate, while Larnaca and Nicosia remain important centers of mass demand.
Apartments as the main market driver
Apartments confidently maintain leading positions in the Cyprus new-build market. During the first 10 months of 2025, 5,059 new apartments were sold, while the number of houses sold reached 1,138 properties. The total value of apartment transactions nationwide reached 1.41 billion euros, and the average price per transaction was 280 thousand euros. Houses were sold significantly less often, but they were characterized by a higher average price, which reached 518 thousand euros. This highlights the growing gap between the mass and premium segments of the market.
Limassol — the absolute champion in prices and volume
Limassol once again confirmed its status as the key new-build market in Cyprus. During the first 10 months of 2025, about 1.8 thousand purchase agreements were signed here, totaling more than 812 million euros, which accounts for nearly 40% of the total value of all new house and apartment sales in the country. The average property price in the region reached 451 thousand euros, more than twice the comparable figures in Nicosia and Larnaca. The most expensive transaction in the Cyprus new-build market was concluded in Limassol: apartments were sold here for 15.2 million euros. This price level reflects sustained interest from international investors in elite coastal projects and premium-class residential complexes.
In addition, three districts in Limassol entered the list of leaders at once, forming combined sales exceeding 737 million euros. Germasogeia became the main center of capital attraction with transaction volumes of 351.5 million euros and an average price of 583,905 euros. The Limassol municipality accounted for 274 million euros in sales, while the Kourion area added another 111.7 million euros. Together, these districts accounted for about 1.6 thousand transactions.
Paphos — leader by average price and magnet for luxury buyers
Paphos ranked fourth by number of transactions, recording 799 new property sales, but became the absolute leader in average price — 470 thousand euros, surpassing even Limassol. The main role here is played by the housing market: the average house price in Paphos rose to 697 thousand euros, significantly ahead of Limassol with 582 thousand euros and the free districts of Famagusta with 552 thousand euros.
These data confirm that Paphos is increasingly attracting high-income buyers focused on purchasing luxury villas, gated residences, and resort-style real estate.
Interestingly, Akamas and Peyia ranked seventh by total transaction value with 88.5 million euros, but became the most expensive districts in Cyprus with an average price exceeding 646 thousand euros, overtaking even Germasogeia. The Paphos municipality accounted for 124.6 million euros of total sales, while Geroskipou added nearly 78 million euros. In all locations, average prices exceeded 420 thousand euros, highlighting their elite character.
Larnaca — the most active city by number of transactions
Larnaca showed one of the highest dynamics in the Cyprus new-build market. From January to October 2025, 1,596 transactions were concluded in this city. The average apartment price reached 196 thousand euros, while houses were sold at an average of 394 thousand euros. The Larnaca municipality became the most active district in the country by number of transactions, recording 927 sales totaling 207.2 million euros. Additionally, the Aradippou area recorded 394 transactions totaling 77.9 million euros. This direction attracts buyers focused on more affordable real estate with an average price range of 200–220 thousand euros.
Nicosia — the backbone of the domestic market and affordable housing
Nicosia retained its role as the most stable market focused on domestic demand. In the capital, 1,730 new houses and apartments were sold, only slightly less than in Limassol. The average apartment price was 191 thousand euros, making Nicosia the most affordable large market in the country. The Nicosia municipality concluded 624 transactions totaling 130 million euros, while the Lakatamia area entered the top ten leaders with the most competitive average price of 195 thousand. The total volume of sales across the key districts of the capital approached 207 million euros. Nicosia continues to play a key role in supporting domestic demand. The capital’s market is characterized by stable turnover and is oriented toward the real housing needs of the population.
Commenting on the results, Landbank Group CEO Andreas Christoforidis noted that the Cyprus real estate market demonstrates pronounced diversity. Limassol and Paphos attract high-income investors and maintain record price levels. At the same time, the latter is strengthening its position in the ultra-expensive housing segment. Larnaca and Nicosia ensure market stability through large transaction volumes and steady demand for affordable real estate.