Apartment prices in Cyprus during the COVID-19

Despite the coronavirus pandemic and the Cyprus property market's struggles, house prices remain relatively stable.

The main reason is the small number of available, newly built and old renovated apartments.

Offers on popular real estate sites are a direct indication of this.

So, for example, the following options are available in Nicosia:

• an apartment of 129 m2 with three bedrooms, built-in 1998, in the Engomi area, is sold for €169 000;
• a new apartment in the Lazia area near a shopping center, with an area of ​​110 m2, with two bedrooms and two bathrooms, is sold for €169 000;
• 3-bedroom apartment in Lakatamia area, 91 m2, built-in 2008, sold for €129 000;
• 3-bedroom apartment in Lakatamia area, 85 m2, built-in 2000, for sale for €131 000;
• a new luxury apartment in the Engomi area, with two bedrooms, with an area of ​​87 m2, for sale for €190 000;
• 3-bedroom apartment in Agios Antonios area in Nicosia, 122 m2, built-in 2015, is for sale for €205 000;
• new 3-bedroom apartment in Strovolos area, with an area of ​​149 m2, for sale for €268 000;
• 3-bedroom apartment in Aglanzia area, 150 m2, near Akadimias Park, built-in 2008, for sale for €274 000;
• 3-bedroom apartment in the center of Nicosia, 85 m2, built-in 2015, is for sale for €175 000;
• 3-bedroom apartment, 95 m2, in the Dasoupolis area, built-in 2002, is sold for €165 000.

In Limassol, the situation is as follows:

• new luxury 3-bedroom apartment, 135 m2, in the Germasogeia area, for sale for €1 300 000;
• a luxurious 4-bedroom apartment of 183 m2 in the Germasogeia area - for €1 250 000;
• 3-bedroom apartment, 96 m2, under construction, in the Kapsalos area - for €180 000;
• new apartment in the center of Limassol with three bedrooms, an area of ​​117 m2 - for €265 000;
• 3-bedroom apartment, 105 m2, in the area of ​​Agios Athanasios, built-in 2009 - for €195 000;
• a two-bedroom apartment, with an area of ​​59 m2, in the area of ​​St. Peter and Paul Apostolov, built-in 2008 - for €145 000;
• 3-bedroom apartment in Agios Tychonas area, 79 m2 - for €210 000;
• 3-bedroom apartment in the center of Limassol, with an area of ​​116 m2 - for €180 000;
• new 3-bedroom apartment, 91 m2 in the area of ​​Agios Athanasios - for €250 000;
• 3-bedroom apartment in the center of Limassol, with an area of ​​116 m2, for €180 000.

In Larnaca, compared to other cities on Cyprus, prices are lower. Nevertheless, they are still holding at the pre-crisis level:

• 3-bedroom apartment of 100 m2, built in 1999 - €148 000;
• new 3-bedroom apartment, 80 m2 - €145 000;
• new 3-bedroom apartment in the center of Larnaca, 78 m2 - €126 000;
• new 2-bedroom apartment in the city center, 51 m2 - €130 000;
• 3-bedroom apartment, 82 m2, built in 2010 - €150 000;
• 3-bedroom apartment on Mackenzie, 75 m2, built in 2006 - €170 000;
• 3-bedroom apartment, 80 m2, built in 2010 - €85 000;
• 3-bedroom apartment, 70 m2, built in 1996 - €99 000.

But in Paphos there are fewer offers, but the price level has not yet dropped much:

• 3-bedroom apartment, 85 m2, built in 1980 - €220 000;
• 2-bedroom apartment, 73 m2, built in 1980 - €105 000;
• 2-bedroom apartment, 89 m2, built in 1980 - €149 900;
• 2-bedroom apartment of 102 m2, built in 1980 - €98 000;
• 3-bedroom apartment, 60 m2, built in 2018 - €85 000;
• 3-bedroom apartment, 85 m2 and built in 2018 - €165 000.

Finally, in Paralimni the situation is better than in Paphos in terms of the number of offers and prices:

• 3-bedroom apartment, 113 m2 - €140 000;
• 2-bedroom apartments, 63 m2 - €67 500; 75 m2 - €120 000 and 64 m2 - €115 000;
• 2-bedroom apartment, 70 m2, built in 2019 - €120 000;
• 3-bedroom apartment, 85 m2, built in 1996 - €90 000;
• 2-bedroom apartment, 130 m2 - €139 000;
• 3-bedroom apartment, 155 m2 - €187 000;
• 2-bedroom apartment, 66 m2 - €89 000.