Cyprus’ property market has started to show a shift in power, with Paphos now recording higher average prices than Limassol for new homes.
While Limassol remains the clear leader in total sales value and activity, high-end villa sales in Paphos have pushed the district’s average property price above €646,000 in prime areas. This signals a growing demand from wealthy international buyers.
Nearly €2 billion in new-build sales
The new-build property market closed the first ten months of 2025 on a strong footing. According to Landbank Analytics, total sales of newly built houses and flats reached almost €2 billion between January and October.
Andreas Christoforides, CEO of Landbank Group, said the figures show three clear trends: rising apartment demand, Limassol’s dominance in transaction value, and Paphos emerging as a hotspot for luxury homes.
Apartments continue to lead the market
Flats remain the most popular choice across Cyprus.
During the first ten months of the year, 5,059 new flats were sold compared to 1,138 houses. Apartment sales reached €1.41 billion nationwide, with an average price of €280,000.
Houses sold in smaller numbers but achieved much higher prices, with the national average reaching €518,000.
Limassol: Cyprus’ property champion
Limassol once again confirmed its position as Cyprus’ most expensive and active property district.
The city recorded 1,800 new property sales worth more than €812 million — almost 40% of the total value of new-build sales across the island.
The most expensive sale in Cyprus this year was also in Limassol: a flat sold for €15.2 million.
The district’s average sale price reached €451,000, more than double the averages seen in Nicosia and Larnaca.
Paphos: The new luxury leader
Although Paphos ranked fourth in total number of sales, with 799 transactions, it recorded the highest average sale price in Cyprus at €470,000 — even higher than Limassol.
This growth is mainly driven by the housing market. The average price of a house in Paphos rose sharply to €697,000. By comparison, houses averaged €582,000 in Limassol and €552,000 in Famagusta.
The figures suggest Paphos is becoming a preferred destination for high-net-worth buyers searching for luxury villas.
Nicosia and Larnaca offer affordability
At the more affordable end of the market, Nicosia and Larnaca continue to attract steady demand.
Nicosia recorded 1,730 new home and flat sales, closely following Limassol in activity. The average flat price in the capital stood at €191,000, making it attractive mainly to local buyers.
Larnaca showed strong growth with 1,596 sales. Flats averaged €196,000, while houses averaged €394,000, offering better value compared to Limassol and Paphos.
The hottest property areas in Cyprus
Germasogeia leads in value
Limassol district dominates the list of top-performing areas.
Germasogeia led the market with €351.5 million in sales and an average price of €583,905. Limassol municipality followed with €274 million in sales, while the Kourion area added €111.7 million.
Together, these three areas generated around 1,600 transactions, underlining strong and consistent demand.
Akamas becomes Cyprus’ most expensive area
The Akamas region in Paphos district, which includes Peyia, ranked seventh in total value at €88.5 million. However, it recorded the highest average sale price in Cyprus at more than €646,000 — even above Germasogeia.
Paphos municipality recorded €124.6 million in sales, while Geroskipou added nearly €78 million. All three areas posted average prices above €420,000, highlighting their luxury appeal.
Larnaca’s mass-market growth
Larnaca municipality recorded 927 sales worth €207.2 million — the highest number of transactions for any single area.
Together with Aradippou, which recorded 394 sales worth €77.9 million, the district continues to attract buyers looking for affordable options, with average prices between €200,000 and €220,000.
Nicosia’s stable performance
Nicosia remains a pillar of steady domestic demand.
Nicosia municipality recorded 624 transactions worth €130 million, ranking fourth overall. Lakatamia offered the most competitive pricing in the top ten areas, with an average sale price of €195,000.
The capital continues to show stability, driven largely by local housing needs and mid-range properties.
A market of two speeds
The latest figures show a property market moving at two different speeds.
Limassol and Akamas continue to attract high-income investors, keeping prices at record levels. Meanwhile, Larnaca and Nicosia maintain strong sales volumes by serving steady demand for more affordable housing.
In premium areas such as Akamas and Germasogeia, where average prices exceed half a million euros, the focus is clearly on luxury investment. In contrast, areas like Lakatamia and Aradippou, with prices around €200,000, show that local demand remains the backbone of Cyprus’ property market.
