Limassol remains Cyprus’ most expensive property market

Paphos has emerged as one of Cyprus’ most dynamic property markets in the first half of 2025, according to a report released on Tuesday by Landbank Analytics.

The findings show that Paphos recorded a high number of apartment sales, while resale houses in the district remained among the most expensive on the island.

Specifically, a total of 203 apartment transactions were recorded in Paphos during the first six months of 2025, more than twice the number of house sales.

In addition, the average resale apartment price stood at €129,774, the lowest in Cyprus, reflecting the district’s continued appeal to local and foreign buyers seeking affordable yet attractive options.

By contrast, resale houses in Paphos averaged €386,828 from 90 transactions, making them the second-most expensive in the country after Limassol.

Across Cyprus, meanwhile, the residential resale segment remained the cornerstone of the property market, with houses accounting for the highest total transaction value.

During the first half of 2025, resale houses across the island generated a total value of €190.3 million from 552 transactions.

Apartments followed closely, reaching €185 million across 1,162 sales, indicating strong demand for smaller, more affordable units.

According to the Landbank Analytics, this trend mirrors that of the new-build market, where both houses and apartments continue to drive activity and attract investors.

The data revealed that each district in Cyprus showed distinct patterns in both transaction volume and pricing.

For example, apartments led the market in Nicosia with 458 sales, nearly three times more than house sales.

The average apartment price in the capital stood at €143,118, while houses averaged €283,641 across 163 transactions.

Unsurprisingly, Limassol remained the most expensive district, with the average resale house price reaching €527,252 across 122 sales.

Apartments in Limassol also remained highly priced, averaging €261,378 across 201 transactions, reflecting persistent demand in the coastal city.

Larnaca saw balanced market activity, with apartments dominating at 220 sales and an average price of €142,161.

Resale houses in Larnaca followed with 126 transactions at an average price of €249,382, demonstrating a steady market across property types.

Real estate activity in Famagusta was more limited but continued to favour apartments.

Specifically, a total of 80 apartment sales were recorded at an average price of €115,664, while houses reached €264,039 across 51 transactions.

It should be noted that the above data only refers to the areas controlled by the Republic of Cyprus.

Commenting on the findings, Andreas Christophorides, CEO of Landbank Group, said that the data highlighted the diversity and momentum of the Cypriot property market.

“What we’re observing is a multi-speed landscape, with each district showcasing its own distinct identity,” he said.

He added that Limassol continued to lead in terms of value, “underscoring its role as a powerful business and investment hub“.

“At the same time, in Nicosia, Larnaca, and Paphos apartment sales dominate in volume, driven by strong demand for affordable, permanent housing and compelling investment returns,” he stated.

Christophorides explained that the analysis went beyond statistics to capture broader socioeconomic trends shaping the market.

“Our analysis doesn’t just present numbers, it reflects the underlying socioeconomic forces shaping the market,” he said.

“The sector’s resilience and adaptability, offering varied options across different price levels, signals a phase of maturity and sustained opportunity for both buyers and investors,” he concluded.