The Cyprus property market continued its upward path during the first half of 2025, according to the latest figures released by the Real Estate Agents Registration Council of Cyprus.
Data compiled by the Department of Lands and Surveys revealed a total of 8,729 sale contracts were filed between January and June, marking a 16% increase compared to the same period in 2024, which saw 7,553 contracts submitted.
Over the same period, property transfers worth a total of €2.3 billion were completed, representing an annual increase of approximately 10% in value. Interestingly, this rise occurred despite a modest 0.5% increase in the total number of transfers, which reached 9,417.
Council President Marinos Kinaigirou highlighted the market’s resilience, noting:
“Despite geopolitical uncertainties and global instability, particularly during the second quarter of the year, the property market maintained its momentum.”
He also pointed out that “demand remains particularly strong in the residential sector, helping to stabilise prices.” Looking ahead, Kinaigirou added: “Provided no unforeseen developments arise, we expect 2025 to be another very successful year for the Cypriot property market.”
Limassol leads the property market
Limassol retained its leading position among Cyprus’ districts, with transfer values reaching €809.3 million and 2,725 sale contracts filed. A total of 2,466 property transfers were recorded in the area, while the number of contracts increased by 13% year-on-year.
Nicosia follows closely
Nicosia came second in terms of value and first in terms of volume, recording 2,859 transfers with a total worth of €554.8 million. Sale contracts in the capital reached 2,010, up 14% from the first half of 2024, driven largely by Cypriot buyers seeking permanent residences.
Larnaca shows strongest growth
Larnaca registered the strongest growth in sale contracts, with a 24% rise to 1,948 documents filed. The total value of property transfers in the region hit €324 million across 1,822 transactions, underscoring the area’s growing appeal to investors.
Paphos continues to attract buyers
Paphos, a traditional hotspot for both permanent residences and tourism-related investments, also recorded impressive figures. Sale contracts increased by 20% to 1,653, while transfers stood at 1,736, amounting to €485 million in total value.
Steady growth in Famagusta
Although the Famagusta district had lower absolute figures, it maintained a positive trajectory. There were 534 transfers and 393 sale contracts filed – an 11% increase from the same period in 2024 – with total transaction value reaching €104.6 million.
With strong demand across all districts and a solid foundation in residential property, Cyprus’ real estate sector appears set for another strong year, despite broader global headwinds.
Source: Cyprus Property News