The Cyprus property market remained broadly stable during the first half of 2026, although significant differences emerged between regions, property types and buyer budgets, according to the latest market analysis from Ask Wire.
A total of 8,313 residential property transactions were completed during the first six months of the year, with a combined value of approximately €2.31 billion.
The figures include 2,580 house sales worth €932 million and 5,733 apartment transactions with a total value of €1.38 billion.
While overall activity remains healthy, Ask Wire says the key question for the market is no longer whether demand exists, but where buyers are concentrating their spending, which price brackets remain affordable and whether available housing stock matches current demand.
Limassol records highest transaction value
Limassol remained Cyprus’ most valuable residential market, recording 2,216 transactions worth a combined €823 million.
However, average transaction values declined compared with 2025.
The average house sale fell to €392,000, down from €452,000, while the average apartment transaction decreased to €363,000 from €400,000.
According to Ask Wire, strong sales volumes should not be interpreted as evidence that all asking prices remain achievable. Instead, buyer demand appears to be shifting towards lower overall transaction values, reflecting greater price sensitivity.
Nicosia driven by local demand
Nicosia recorded 2,167 residential transactions with a combined value of €421 million.
House sales are running approximately 15% ahead of the pace recorded in 2025, although the average house value declined to €224,000 from €247,000.
Apartment transaction volumes remained broadly unchanged, but the average apartment price increased to €183,000, compared with €169,000 a year earlier.
Ask Wire says the capital’s housing market continues to be supported primarily by local buyers using mortgage finance, with affordability remaining the dominant factor influencing purchasing decisions.
Larnaca apartments dominate the market
Larnaca completed 1,944 residential transactions worth €365 million during the first half of the year.
Apartments accounted for the majority of activity, with 1,521 transactions at an average value of €171,000.
House sales, meanwhile, were around 13% lower than during the same period in 2025.
The analysis suggests demand continues to be driven by first-time buyers, domestic investors and purchasers seeking more affordable alternatives to Limassol.
Paphos maintains demand for premium homes
Paphos recorded 1,614 residential property transactions with a combined value of €618 million.
Although house sales were slightly below last year’s pace, average house values increased significantly to €535,000, compared with €470,000 in 2025.
Ask Wire says demand for higher-value properties remains resilient, although it is concentrated in specific locations and targeted developments that appeal to well-defined buyer groups.
Famagusta requires a more cautious pricing strategy
Famagusta recorded 372 residential transactions worth a total of €84 million.
House sales were noticeably weaker than during the first half of 2025, while the average apartment transaction stood at around €150,000.
According to Ask Wire, current market conditions require a more conservative approach to pricing, sales expectations and absorption rates, particularly outside the province’s strongest coastal locations.
Cyprus property market outlook
The first-half data suggests that Cyprus’ residential property market remains fundamentally stable, but buyers are becoming increasingly selective.
Affordability continues to shape purchasing decisions in the domestic market, while premium properties remain in demand only where location and product quality justify higher prices.
Rather than experiencing a broad-based slowdown, the market is becoming more segmented, with regional dynamics and realistic pricing playing an increasingly important role in determining sales performance.
