Cyprus’s real estate sector got off to a flying start in 2025, with the Department of Lands and Surveys reporting €1.1 billion in completed property transfers and 4,137 sale contracts filed nationwide during the first quarter. While transfer volumes dipped 2.9% compared to Q1 2024 (3,597 contracts), the total value of transactions climbed 15%, underlining a renewed willingness among buyers to invest at higher price points.
Positive market outlook
Marinos Kineyirou MRICS, President of the Council for the Registration of Estate Agents, noted: “There is no doubt that 2025 has made a positive start for the property market. Demand remains high and supply is increasingly aligned with market needs. Potential further interest-rate cuts by the European Central Bank could spur even more activity. However, risks—such as trade-war pressures and rising construction costs—should not be overlooked.”
Regional breakdown
- Limassol: The island’s premier market led all districts with €428.7 million in transactions and 1,295 sale contracts filed. A total of 1,203 transfers in Q1 highlights the district’s enduring appeal for both resale and new-build investments.
- Nicosia: Cyprus’s capital maintained steady momentum, recording €283.5 million in transfer value across 1,304 transactions and 932 sale contracts. Strong interest in new developments underscores Nicosia’s broad-based demand.
- Paphos: Building on recent growth, Paphos saw 811 transfers worth €199 million and 829 contracts filed. International buyers continue to fuel its rise as a residential and holiday-home hotspot.
- Larnaca: With 843 transfers valued at €154 million and 910 contracts, Larnaca is emerging as a dynamic market. Ongoing infrastructure and tourism-related projects are expected to bolster further expansion.
- Famagusta: The district recorded the fewest transfers (251) and lowest value (€48 million), alongside 171 sale contracts. Yet affordable prices and untapped development potential—particularly in tourism—signal room for steady growth.
Looking ahead
With buyer confidence at a multi-year high and market fundamentals firmly in place, Cyprus’s property sector is well positioned to sustain its strong performance through 2025. Investors and homebuyers alike will be watching ECB policy decisions and construction-cost trends, but for now the Mediterranean island remains firmly in the fast lane of real-estate growth.