The property market in Cyprus has shown impressive growth at the start of the year.
According to the Land Department, the total value of sales transactions from January to March across the country reached the €1.1 billion mark. And their number increased by 15% to 4,137 from 3,597 in the first quarter of 2024.
There is no doubt that 2025 has started with positive momentum for the property market. The outlook remains encouraging, with demand remaining strong and supply increasingly meeting buyers' expectations. A possible interest rate cut by the European Central Bank could provide an additional stimulus. However, certain risks remain, particularly in the residential sector, where continued global trade instability and rising construction costs could create headwinds," commented Marinos Kineiro, Chairman of the Council for the Registration of Estate Agents.
He noted that Limassol remains the undisputed leader in terms of both the number of transactions and their value.
In the first quarter, 1,295 contracts of sale and purchase were registered here, for a value of 428.7 million euros. In addition, there were 1,203 transfers of ownership, confirming the high demand for both new homes and secondary market properties.
The Cypriot capital is also showing stable results. In the first three months of the year, 932 property purchase agreements were concluded in Nicosia, for a total of €283.5 million. The continued interest in new developments confirms the attractiveness of the capital for both local and foreign buyers.
Meanwhile, Paphos continues to strengthen its position. In this Cypriot city, 829 sales contracts worth €199 million were registered between January and March. The region remains particularly popular with foreign investors, underlining its viability as a centre for home buying and property investment.
Chineiro also noted that Larnaca is showing a marked increase in activity. In this coastal town, 910 sales contracts worth a total of €154 million were signed in the first quarter of 2025. With active investment projects, interest in the city is expected to continue to grow in the coming months.
Although the performance of Famagusta's vacant neighbourhoods remains modest compared to the rest of the area (€48 million and 251 property transfers), the first three months of the year showed an encouraging trend with 171 sales contracts signed. According to Kineiro, low property prices and the prospects for development in the tourism sector make the district attractive for further investment.
The Cyprus property market has thus started 2025 with strong growth. Strong demand, positive economic expectations and active investment activity create an optimistic outlook for the remainder of the year. All this opens up a wide range of opportunities for investors and private buyers alike.