Cyprus’ property market has hit the ground running in 2025, with property transfers worth an impressive €1.1 billion completed nationwide and 4,137 sale contracts filed during the first quarter alone.
The start of the year has seen strong performance, with a notable 15% year-on-year increase in the number of sale contracts filed across the Republic.
According to data from the Department of Lands and Surveys, the total number of sale contracts rose to 4,137 compared to 3,597 in the first quarter of 2024.
While the overall volume of property transfers dipped slightly by 2.9%, the total value climbed sharply, reflecting a significant 15% rise that pushed annual transaction values beyond €1.1 billion.
A positive outlook
Marinos Kineyirou MRICS, President of the Council for the Registration of Estate Agents, commented:
“There is no doubt that 2025 has made a positive start for the property market. The outlook remains encouraging, with demand still running high and supply increasingly meeting market needs. Factors such as potential further interest rate cuts by the European Central Bank could stimulate even more buyer activity. On the other hand, risks remain — particularly in the housing sector — with the ongoing trade war and the potential for rising construction costs likely to pose challenges.”
A closer look at the districts
Limassol: retaining its crown
Limassol continues to reign supreme, leading both in transaction value and volume of sale contracts.
The district recorded the highest transaction value at €428.7 million and topped the charts with 1,295 sale contracts filed.
With 1,203 property transfers completed, the figures highlight the district’s vibrant investment activity and the strong demand for both resale and newly built properties.
Nicosia: consistent and steady
Nicosia maintained a strong and stable market presence, achieving 1,304 property transfers worth €283.5 million, and 932 sale contracts filed during the first quarter.
This steady interest, particularly in new developments, confirms the capital’s enduring appeal.
Paphos: building on momentum
Paphos continues to thrive, building on its success in recent years.
During the first quarter of 2025, the district recorded 811 transfers worth €199 million, and 829 sale contracts filed.
Strong demand, especially from international buyers, underscores the district’s ongoing vitality in both residential and investment sectors.
Larnaca: a market on the rise
Larnaca is emerging as a dynamic force in the market, registering 843 property transfers valued at €154 million, and 910 sale contracts filed — a clear sign of growing demand.
Ongoing investment projects within the district are expected to fuel further market expansion in the months ahead.
Famagusta: quiet growth with potential
Although Famagusta reported the lowest figures in terms of transaction value (€48 million) and volume (251 transfers) compared to other districts, the signs are far from discouraging.
With 171 sale contracts filed during the first quarter, the district is experiencing a steady rise in interest, likely driven by comparatively lower property prices and promising development prospects, particularly linked to its strong tourism profile.
Conclusion
The property market in Cyprus has made an undeniably strong start in 2025, with momentum evident across all districts.
With buyer demand remaining robust and positive market fundamentals in place, the outlook for the remainder of the year appears bright — offering exciting opportunities for investors and homebuyers alike.
Source: Cyprus Property News (translated and summarised from the Greek article in Economy Today)