Real estate sales in Cyprus rose by 12 per cent in the first four months of 2025 compared with the same period last year.
In addition, figures for the month of April showed a slight nationwide increase despite small drops in Larnaca and Paphos.
According to data from the Department of Land and Surveys, 1,404 property transactions were recorded across the island in April 2025, up from 1,366 in April 2024, an increase of 3 per cent.
From January to April this year, the total number of sales documents filed with district land registry offices reached 5,541, compared to 4,963 during the same period in 2024.
Limassol continued to lead the market with 461 sales in April, up 5 per cent from 440 in the same month last year.
Over the first four months of 2025, the number of transactions in the district climbed to 1,756, a 12 per cent rise from 1,563 in the same period of 2024.
Nicosia also reported solid growth. April sales increased by 15 per cent year-on-year to 354, up from 308.
Likewise, the capital saw the same percentage increase in the year-to-date figures, which rose to 1,286 from 1,121 last year.
By contrast, Larnaca saw an 11 per cent drop in April, with 275 sales compared to 309 a year earlier.
Nevertheless, the district recorded a 15 per cent increase from January to April, with 1,185 transactions filed versus 1,032 during the same four-month period last year.
Similarly, in Paphos there was a small decline in April, with 238 sales versus 252 in April 2024, a 6 per cent decrease.
However, the total for the year so far still showed a slight improvement, up 4 per cent to 1,067 from 1,026.
The Famagusta district saw the strongest April growth, with sales up by 33 per cent to 76 from 57 in the same month last year. Over the four-month period, sales also rose by 12 per cent, from 221 to 247.
Average Cyprus apartment price drops over 11 per cent in 2024
Meanwhile, real estate firm Landbank Analytics on Wednesday released its 2024 findings on the average sale prices of newly built homes across Cyprus.
The nationwide average sale price for new apartments fell by over 11 per cent to €281,000, compared to €316,000 in 2023. New house prices remained stable at €461,000 on average.
In Nicosia, apartment prices dropped by 3.8 per cent to €190,000, and house prices fell by 5.7 per cent to €314,500.
Limassol recorded a 9.4 per cent drop in apartment prices to €426,000, while house prices rose by 4.4 per cent to €557,000.
Larnaca saw apartment prices hold steady at €196,000, though house prices slipped by 8.5 per cent to €340,000.
In Paphos, apartment prices declined sharply by 20.3 per cent to €312,000, while house prices edged up by 3.6 per cent to over €590,000.
Famagusta posted increases for both property types, with apartment prices rising by 5.2 per cent to €222,000 and house prices up by 15 per cent to €367,500.
“A closer look at the analysis indicates a noticeable decline in the sale of high-value new residential properties in 2024 compared to 2023,” said Andreas Christophorides, CEO of Landbank Group.
“This downturn is largely driven by two key factors: firstly, a shift among local buyers toward more affordable housing solutions; and secondly, foreign buyers increasingly opting for lower priced properties— evident from the sales slowdown in Limassol,” he added.
