**NICOSIA –** The Cypriot new-build property market has experienced a robust performance in the first ten months of 2025, with total transaction values nearing €2 billion. Data compiled by Landbank Analytics reveals a discernible trend towards apartment acquisitions, a continued stronghold for Limassol in terms of monetary engagement, and a notable ascent for Paphos as a prime locale for ultra-luxury residences.
The analysis, spanning from January to October, underscores the dynamism within the island's real estate sector. Of the newly constructed homes and apartments changing hands, apartments constituted the lion's share, with 5,059 units sold compared to 1,138 houses. This divergence in sales figures is reflected in the average prices: apartments nationally averaged €280,000, while houses commanded a significantly higher average of €518,000.
Limassol has unequivocally cemented its position as the epicentre of both property value and market activity. The coastal city’s district recorded an impressive 1,800 sales, accumulating a staggering sum exceeding €812 million. This figure represents a substantial proportion, nearly 40%, of the overall financial turnover for new property sales across the entirety of Cyprus. The average sale price within Limassol stands at €451,000, a testament to its premium market standing. The district also played host to the nation’s most expensive property transaction during this period – an apartment that fetched an eye-watering €15.2 million.
Concurrently, Paphos is 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 value, Paphos is increasingly recognised as a magnet for ultra-luxury homes. This burgeoning reputation suggests a strategic diversification of Paphos's property appeal, potentially drawing a different demographic of discerning international buyers.
Andreas Christoforides, CEO of Landbank Group, commented on these evolving dynamics. "Our analysis shows a clear 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 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.
The implications of these trends are manifold. Limassol’s ongoing role as the primary engine for the new-build market, in terms of both the number of deals and their financial worth, is likely to persist. However, Paphos's growing allure for the ultra-luxury segment indicates a potential recalibration of high-value property expectations and investment strategies within the district. Furthermore, the nationwide preference for apartments points towards sustained demand for this particular property type, possibly driven by factors such as affordability, modern living preferences, and investment potential for a wider range of buyers. The sustained activity and the clear segmentation of market appeal across these key Cypriot districts paint a compelling picture of a resilient and evolving property landscape.