In the third quarter of 2026, Cyprus’s off-plan housing market showed a noticeable increase in activity. According to Landbank Analytics, the number of registered transactions involving apartments and houses under construction or still at the planning stage reached 1,956, with a total value of €606.4 million. Compared with the second quarter, the number of transactions increased by 48.5%, while their total value rose by 51.6%. At the same time, almost two-thirds of the properties were sold for less than €300,000.
Limassol Leads in Transaction Value, While Paphos Strengthens Its Position
Limassol retained its leading position in terms of the value of transactions involving properties under construction. Buyer activity was also recorded in other districts across the island. The municipalities with the highest number of transactions included Limassol with 190, Larnaca with 124, Lakatamia with 111, Aradippou with 109, and Paphos with 96. Strovolos recorded 90 transactions, Livadia 79, and Germasogeia 73, up 69.8% from the second quarter, when 43 transactions were completed.
Germasogeia also stood out for its high property values. The total value of transactions there reached €44.8 million. The median property price was €383,762, while the average stood at €613,991. The price of properties purchased ranged from €95,000 to €5.092 million.
In Agios Tychonas, 16 transactions were registered with a total value of €18.1 million. The median price was €647,123, while the average approached €1.13 million. The least expensive property sold for €125,000, while the most expensive reached €5.8 million. These figures highlight the significant differences in off-plan housing prices depending on location and property class.
Nearly 65% of Properties Sold for Less Than €300,000
Despite the high prices of some properties in coastal areas, most transactions involved more affordable housing. In the third quarter, 1,267 properties, or 64.8% of the total, were sold for less than €300,000. In the second quarter, the share of such transactions was 68.1%. The most active price range was €200,000 to €299,999, with 545 transactions, or 27.9% of the total. Another 521 properties, accounting for 26.6%, were sold for between €300,000 and €499,999.
At the same time, the average value of a single transaction increased by 2%, from €303,808 in the second quarter to €310,019 in the third. There was also a noticeable difference between property types. The average apartment price was €269,217, with a median of €214,500. For houses, the figures reached €478,138 and €380,000, respectively. This means that most demand remains concentrated in the segment below €300,000, although the increase in the average transaction value may indicate a larger share of more expensive properties or rising prices in certain areas.
What Buyers of Off-Plan Property Should Keep in Mind
According to Landbank Analytics CEO Andreas Christoforides, MRICS, the increase in market activity reflects continued interest in properties at an early stage of construction. Such properties may attract buyers because they offer a wider choice of layouts and the opportunity to purchase a home before the project is completed. However, buying property that has not yet been built requires particular attention to legal and construction documentation.
Before signing a contract, buyers are advised to verify ownership of the land and check for any encumbrances, confirm that the necessary planning and building permits have been obtained, and have an independent lawyer review the sale agreement. It is also important to determine in advance what will happen if permits are delayed, refused, or if the terms of the project change.
The increase in the number of transactions does not eliminate the risks associated with buying property during the construction stage. Potential buyers should therefore assess not only the price and location of the property, but also the project’s legal status, expected completion timeline, and contract terms.