During the first half of 2026, 3,594 off-plan apartments and houses were sold across Cyprus, with a combined value of €1.149 billion, according to Landbank Analytics. That works out at an average transaction value of €319,618.
The picture varied quite a bit from one district to another. Nicosia recorded the highest number of sales, while Limassol generated the largest total sales value. Paphos, meanwhile, recorded the highest prices for new-build houses.
Apartments dominate Cyprus’ new-build property sales
Apartments remained by far the most popular choice, accounting for 82.8% of all new-build transactions. In total, 2,977 apartments were sold for €810.6 million.
Houses accounted for the remaining 617 sales, worth a combined €338.1 million.
While houses made up just 17.2% of transactions, they accounted for 29.4% of the market’s total sales value, reflecting their higher average prices.
The bulk of activity was still concentrated in the more affordable and mid-market segments. Some 2,982 properties – around 83% of all transactions – were sold for less than €400,000.
At the other end of the market, only 103 properties, or 2.9% of total sales, were valued at more than €1 million.
How Cyprus’ districts performed
Nicosia recorded 1,063 transactions worth €232.9 million, with particularly strong activity in Lakatamia, Strovolos and Latsia.
Limassol was close behind in terms of sales volume, recording 1,050 transactions. However, it comfortably led the country in terms of total sales value, reaching €435 million. Most of the activity was concentrated in Limassol municipality, Agios Athanasios and Germasogeia.
Larnaca recorded 883 sales worth €187.6 million, with apartments making up around 90% of transactions. The busiest areas were Aradippou, Larnaca municipality and Livadia.
Paphos recorded 497 transactions worth €258.2 million. It also had the highest median property price in Cyprus, at €360,000.
The difference was even more noticeable when it came to houses. The median price for a new-build house in Paphos reached €570,000, underlining the district’s strong position in the higher-end residential market.
Famagusta recorded 101 transactions worth €35 million, with Paralimni accounting for the highest level of activity.
Cyprus’ property market is moving at different speeds
According to Andreas Christoforides, chief executive of the Landbank Group, the new-build market is showing quite different characteristics depending on the district.
In Nicosia and Larnaca, the market is being driven largely by affordable and mid-market apartments. Limassol continues to lead when it comes to overall sales value, while Paphos stands out for its high-specification houses.
The fact that 83% of transactions were below €400,000 is also significant, Christoforides said. It suggests that the core of the market is being supported by genuine housing demand as well as investment activity.