Five markets with different entry points, product mix and demand by region are demonstrated by the analysis of the first half of 2026 by Landbank Analytics, which maps the areas of newly built homes.
As the analysis shows, Nicosia leads in volume, Limassol in total value, Larnaca in the concentration of affordable apartments, Paphos in premium homes and the district of free Famagusta in the smaller but distinct holiday home market.
The large discrepancy between volume and value
Nicosia and Larnaca together accounted for 54.1% of the sales documents, but only 36.6% of the value. In contrast, Limassol and Paphos absorbed 60.3% of the value with 43.0% of the transactions. The discrepancy explains why the market cannot be assessed with a single average.
Commenting on the findings, Andreas Christophorides, CEO of Landbank Group, said, “The figures confirm that Cyprus’ new-build residential property market operates with different characteristics in each district. Nicosia and Larnaca are mainly supported by affordable and mid-priced apartments, Limassol dominates in total transaction value, while Paphos maintains a strong position in the market for high-specification houses.
It is particularly important that 83% of all transactions were completed at prices below €400,000, confirming that the core of the market serves genuine residential and investment needs.
The significant variations between individual areas make the use of reliable and specialised market data essential, enabling buyers, investors and property developers to make decisions based on the actual dynamics of each local market.”
Nicosia: 89% of apartments under €300,000 - The most resilient market of the half-year
Nicosia recorded 1,063 sales worth €232.9 million, accounting for 29.6% of the volume but 20.3% of the value. 89.4% of apartments were priced below €300,000, with a median value of €175,000. For houses, the median was €285,000 and 58.6% remained below €300,000.
The local market showed the greatest resilience: in the second quarter, volume decreased by 25.2% and value by 18.2%, clearly milder than the nationwide decline. Strovolos led in apartments, while Lakatamia and Geri stood out in houses.
Limassol: €435 million and 37.9% of the value - The strongest capital market
Limassol recorded 1,050 sales worth €435.0 million. Although it represented 29.2% of transactions, it absorbed 37.9% of the national value. The median value was €297,600 for apartments and €390,000 for houses, while 10.3 % of houses were priced above €1 million.
Limassol City, Agios Athanasios and Germasogeia led the way in apartments. In houses, Ypsonas was first, but Germasogeia had the clearest premium profile, with a median of €847,500 and an average value of over €1 million. The slowdown in the second quarter was sharp, with -50.9% in volume and -57.6% in value.
Larnaca: 883 sales and 87% of apartments under €300,000
Larnaca recorded 883 sales worth €187.6 million, with a share of 24.6% in volume but 16.3% in value. Apartments dominated with 795 transactions, a median of €184,000 and 87.4% below €300,000. In houses, the median value was €320,000.
Aradippou, Larnaca city and Livadia gathered 673 sales - 84.7% of the apartments in the province. Aradippou led the way in houses, while Voroklini showed a higher median of €501,450. In the second quarter, the volume fell by 44.8%, but the median value of the apartments increased by 3.0%.
Paphos: Median home price €570,000 - One in five sales over €1 million
Paphos accounted for just 13.8% of transactions, but 22.5% of the total value: 497 sales worth €258.2 million. The median price of an apartment was €302,500 and of a house €570,000. 21.3% of houses exceeded €1 million, the highest percentage among the provinces.
Paphos Town led the way in apartments, while Peyia was the strongest house market with 51 sales and a median of €790,000. The median house value in Paphos Town exceeded €2 million, also impacted by a €13 million transaction. Despite the drop in volume, the median house value increased by 21.9% in Q2.
Free Famagusta: Paralimni in the volume, Ayia Napa in premium values
The district of free Famagusta recorded 101 sales worth €35.0 million. Apartments had a median value of €200,000 and 85.0% were below €300,000. For houses, the median was €395,000 and the mean was €536,968, reflecting a clearly higher entry point.
Paralimni dominated both types of housing, with 32 apartments and 23 houses. Ayia Napa recorded a small number of houses, but very high values, with an average of €1.92 million and a maximum of €4.69 million. Because the sample is small, the changes need to be read carefully: in the second quarter the volume decreased by 49.3%, but the value only by 29.5%.
(Source: TKX, Processing Landbank Analytics, InBusinessNews)
