Property sales in Cyprus reach €1.1 billion in first quarter
The Cyprus property market has recorded a robust performance in the first quarter of 2025, with both transaction volumes and sales values reflecting strong momentum, according to a report by the Cyprus Real Estate Agents Registration Council.
In its report, the council noted that Paphos is currently enjoying strong interest from international buyers, while Limassol continues to play a central role in Cyprus’ real estate market.
Council president Marinos Kineyirou commented positively on the outlook, saying that “it is a fact that 2025 has started on the right foot for the property market”.
“The prospects are positive for the future, as demand remains high, while supply is beginning to respond to market needs,” he added.
Figures compiled by the council based on data from the Department of Lands and Surveys show that 4,137 sale contracts were filed island-wide in the first three months of the year.
This represents a strong increase of 15 per cent compared to the 3,597 documents filed during the same period in 2024.
Moreover, while the total number of property transfers dipped slightly by 2.9 per cent, the value of those transactions surged by 15 per cent year-on-year, surpassing €1.1 billion.
“Certainly, there are factors that could positively influence buying interest, such as a further reduction in interest rates by the European Central Bank,” Kineyirou said.
“On the negative side, the housing market could be affected by the trade war, especially in the event of increases in construction material costs,” he add.
In terms of regional performance, Limassol continues to lead both in transaction value and in the volume of sale contracts.
It recorded 1,203 property transfers worth €428.7 million, and 1,295 sale contracts, confirming its role as the island’s property hotspot.
“The figures reflect strong investor interest in both new developments and resale properties,” the council stated..
Nicosia maintained a steady presence in the market, posting the highest number of property transfers at 1,304, with a total value of €283.5 million.
The capital also recorded 932 sale contracts, with the council saying that this “indicates sustained demand for newly built properties“.
Elsewhere, Paphos continues to build on the momentum of recent years, with 811 transfers worth €199 million and 829 sale contracts.
“Demand is largely driven by international buyers seeking homes and other properties in the district,” the council explained.
Larnaca registered 843 property transfers valued at €154 million and saw 910 sale contracts filed.
“The district is emerging as a dynamic market, supported by a wave of ongoing investment projects within its boundaries,” the council mentioned.
The council also said that “although Famagusta posted the lowest figures among all districts—€48 million in property transfers across 251 transactions—the region is also showing signs of growth”.
“A total of 171 sale contracts were submitted in the first quarter, suggesting rising investor interest possibly linked to lower comparative prices and the district’s tourism-led development prospects,” the council concluded.
