The strong momentum of the apartment market is clearly reflected in the latest Landbank Analytics report, which analyses sale contracts submitted to the Department of Lands and Surveys throughout 2025 for newly built apartments and houses — including off-plan developments — across Cyprus.
A total of 7,819 sale contracts for new residential properties were filed during the year, with their combined value exceeding €2.5 billion.
Apartments dominate new home sales
New apartment transactions reached 6,382 units (81.6%), generating €1.77 billion in value. Meanwhile, 1,437 house sales (18.4%) were recorded, totaling €737.9 million.
Notably, the highest transaction of the year involved an apartment in Limassol, which sold for approximately €15.2 million, while the highest-priced house transaction reached around €6.2 million.
Nicosia: The steady force of domestic demand
In 2025, 2,171 new residential sales were recorded in the Nicosia district. Apartments accounted for the vast majority (1,836 transactions), compared to 335 house sales. Apartment transactions generated €349.6 million (76.8%), while houses totaled €105.5 million.
Nicosia ranked as the most affordable district for apartment purchases, with an average price of approximately €190,000. Houses averaged €315,000, reflecting the stability of domestic demand compared with coastal cities that are more influenced by tourism and foreign investment. It is worth noting that district-level prices include transactions across suburbs and rural areas as well as city centers.
Limassol: Cyprus’ investment hub
Limassol recorded the highest number of new residential sales, totaling 2,207 transactions, including 1,936 apartments and 271 houses. Apartment sales generated €824.1 million, representing 83.9% of the district’s total residential sales value, while houses accounted for €157.9 million.
As expected, Limassol leads the market in pricing, with the average apartment price exceeding €425,000 — more than double the averages in Nicosia and Larnaca. House prices were also elevated, averaging €583,000, reinforcing the city’s position as Cyprus’ primary investment destination.
Larnaca: Growth supported by competitive pricing
The Larnaca district also demonstrated strong performance, with 2,020 new residential transactions completed in 2025. Apartments dominated activity with 1,770 sales, compared to 250 house transactions. In value terms, apartments reached €353 million, while houses totaled €96.3 million.
The average apartment price stood close to €200,000, while houses averaged approximately €385,000, making them among the more competitively priced options in the free areas of Cyprus, aside from Nicosia.
Paphos: Leading the luxury housing segment
Paphos presented a more balanced distribution, closing the year with 1,078 new residential sales, including 673 apartments and 405 houses. The district ranked second nationwide in total transaction value at €503.2 million, with a distinctive pattern: house sales value exceeded that of apartments.
Specifically, houses generated €287.8 million (57.2%), compared to €215.4 million (42.8%) for apartments.
Paphos recorded the highest average house price in free Cyprus at approximately €710,000. Apartments also posted a strong average of €320,000, positioning the district as the second most expensive market after Limassol.
Famagusta: A tourism-driven market
The Famagusta district registered the lowest number of transactions in 2025 and was the only district where house sales outpaced apartments. Of the 343 total transactions, 176 involved houses and 167 apartments. As in Paphos, house sales value (€90.4 million) exceeded that of apartments (€32.4 million).
Famagusta offers some of the most affordable apartment options, with an average price of €194,000. Conversely, houses averaged over €513,000, reflecting the district’s strong orientation toward holiday homes and luxury coastal developments.
A market driven by apartments
Commenting on the findings, Andreas Christophorides, CEO of Landbank Group, stated, “Our analysis outlines a market where apartments clearly dominate, accounting for 81.6% of all residential sales across Cyprus. The apartment sector is not merely a trend — it is the engine powering the country’s real estate market.
The geographic distribution of data highlights each district’s distinct profile. Limassol continues to lead in apartment pricing, while Paphos ranks as the most premium district for house purchases, with an average price of €710,000. Nicosia remains the backbone of domestic demand and the most affordable option, offering stability largely insulated from tourism cycles and foreign investment flows.
Larnaca maintains strong activity with more than 2,000 transactions, while preserving competitive pricing — particularly in houses. Meanwhile, Famagusta presents a unique pattern, with house sales exceeding apartments, underscoring the district’s focus on holiday residences and high-end coastal developments.
At Landbank Analytics, we closely monitor these evolving dynamics to provide clients with the intelligence required for targeted and informed investment decisions.”
