Real estate prices in Cyprus in the 3rd quarter of 2024 recovered almost to the level of 2012, that is, to the level before the banking crisis, according to the latest data from the Central Bank of Cyprus. The price index across the country was 90.8 points, approaching the level of 2012 (91.8 points), but not reaching the peak of 2008 (108.9 points).
The apartment price index, however, reached its highest point in the history of data collection, with a particularly strong increase in Limassol.
The national apartment price index rose to 113 points in the 3rd quarter of 2024, surpassing the previous peak of 105.8 points recorded in the 4th quarter of 2008. The lowest point of the market was reached in the 1st quarter of 2016, when the index fell to 70.7 points.Limassol recorded the highest apartment price index of 138.2 points in the 3rd quarter. This is the highest level in history. The upward trajectory has been traced since 2019.
The apartment price index in Nicosia was 95.5 points in the 3rd quarter, which is still below the 2010 level of 100 points.
Larnaca reached 106.5 points, while Paphos rose to 108.6 points. Famagusta showed the lowest index of 85.5 points.
The central Bank noted a slowdown in price growth, while the apartment price index showed a more pronounced slowdown compared to the general housing price index.Source: in-cyprus
