Cyprus recorded 1,956 off-plan sales of apartments and houses (i.e. under construction or at the planning stage) in the third quarter of 2026. Their combined value reached €606.4 million, according to Landbank Analytics.
Compared with the second quarter, recorded sales rose by 48.5%, while their total value increased by 51.6%. The figures show stronger recorded activity and a shift in the balance between districts and price bands.
Limassol leads by value as Paphos gains ground
Limassol strengthened its position in the market. The district recorded 599 off-plan sale agreements worth €245.3 million. Its share of all transactions rose from 26.3% in Q2 to 30.6% in Q3, while its share of total value climbed from 32.4% to 40.5%.
Paphos also gained ground. Its share of transactions increased from 12.8% to 17%, while its share of total value rose from 21.2% to 22%.
Nicosia recorded 489 sales, but its share of transactions fell from 34.5% to 25%. Its share of total value also declined, from 26.2% to 16.2%.
Larnaca’s share of transactions remained broadly stable at 24%.
Famagusta accounted for 3.4%. of the total transactions.
Most off-plan sales were below €300,000
Homes priced below €300,000 accounted for 1,267 transactions, or 64.8% of Q3 sales. Their share was down from 68.1% in Q2, but lower and mid-priced properties still made up almost two in every three sales.
The largest price band was €200,000 to €299,999, with 545 transactions representing 27.9% of the total.
Properties priced between €300,000 and €499,999 followed with 521 sales, representing 26.6%.
Limassol city and Larnaca see strong activity
Limassol city remained the busiest individual locality, with 190 sales, up 47.3% from 129 in Q2. Larnaca city recorded 124 transactions, a 74.6% increase from 71.
Lakatamia ranked third with 111 sales, while Aradippou recorded 109. Aradippou’s total was down 10.7% from the previous quarter, though it remained among the leading areas by volume.
Paphos city recorded 96 sales, up from 79. Strovolos had 90, Livadia 79 and Germasogeia 73. Sales in Germasogeia rose 69.8% from 43.
Germasogeia and Agios Tychonas stand out for value
Germasogeia recorded 73 sales worth €44.8 million. Its median transaction value was €383,762 and its average was €613,991. Recorded prices ranged from €95,000 to €5.092 million.
Agios Tychonas had 16 transactions worth a combined €18.1 million. The median value was €647,123, while the average reached about €1.13 million. Prices ranged from €125,000 to €5.8 million.
Average values reflect the homes sold
The average value/sale agreement rose by 2% quarter on quarter, from €303,808 to €310,019.
The average apartment price was €269,217 and the median was €214,500.
The average house price stood at €478,138, with a median of €380,000.
Commenting on the results, Landbank Group Chief Executive Officer Andreas Christoforides, MRICS, said:
“The third-quarter picture is not limited to the significant increase in recorded off-plan sales. What is more revealing is how those transactions were distributed. Limassol increased its share of total value, Paphos gained ground in the number of transactions, while Nicosia, despite its lower share, continues to play a significant role in new developments.
“At the same time, almost two in every three sales involved properties priced below €300,000. The message for developers is clear: choosing the right location, property type and price band is crucial to a project’s sales absorption. The market is not uniform and cannot be assessed solely by looking at average prices or total sales.
“In areas such as Germasogeia and Agios Tychonas, high values go hand in hand with very different mixes of transactions. Reliable analysis must bring together transaction volumes, median values, the range of sale prices and the characteristics of the properties. That is the basis for better development and investment decisions,” he added.
Editor’s recommendation to potential buyers
Those considering buying a property in Cyprus off-plan must check the land title and any encumbrances, verify the status of planning and building permits, and have an independent lawyer review the sale contract before signing or paying. If permits have not yet been issued, make sure the contract clearly says what happens if they are refused, amended or delayed.
Further information regarding pre-purchase checks can be found at Essential due diligence for buying property in Cyprus.
