The Cypriot new-build property market has demonstrated a robust performance throughout the initial ten months of 2025, with total transaction values approaching an impressive €2 billion. Comprehensive data compiled by Landbank Analytics has revealed a discernible trend favouring apartment acquisitions. Furthermore, Limassol has maintained its stronghold in terms of monetary engagement, while Paphos has notably ascended as a prime locale for ultra-luxury residences.
This detailed analysis, which spans from January to October, effectively underscores the significant dynamism within the island's real estate sector. Among the newly constructed homes and apartments that have changed hands, apartments constituted the lion's share of sales. A total of 5,059 apartment units were sold, in contrast to 1,138 houses. This pronounced divergence in sales figures is directly reflected in the average prices recorded: apartments nationally averaged €280,000, whereas houses commanded a significantly higher average of €518,000.
Limassol has unequivocally cemented its position as the undisputed epicentre of both property value and overall market activity. The coastal city's district alone recorded an impressive 1,800 sales, accumulating a staggering sum exceeding €812 million. This substantial figure represents nearly 40% of the overall financial turnover generated from new property sales across the entirety of Cyprus. The average sale price within Limassol currently stands at €451,000, a clear testament to its premium market standing. Notably, the district also hosted the nation's most expensive property transaction during this period – an apartment that fetched an eye-watering €15.2 million.
Concurrently, Paphos is actively carving out a distinct niche, particularly within the high-end segment of the market. While Limassol continues to dominate in sheer transaction volume and overall financial value, Paphos is increasingly recognised as a significant magnet for ultra-luxury homes. This burgeoning reputation suggests a strategic diversification of Paphos's property appeal, potentially attracting a different demographic of discerning international buyers.
Andreas Christoforides, CEO of Landbank Group, commented on these evolving market dynamics. "Our analysis clearly shows a shift toward apartments, Limassol’s unquestioned dominance in transaction value, and Paphos emerging as a top destination for ultra-luxury homes," he stated. This sentiment effectively highlights the dual nature of the current market: broad-based demand favouring apartments, a concentrated economic powerhouse in Limassol, and a specialised growth area for opulent properties in Paphos.