Cyprus home sales continue to grow in 2025

Property sales in Cyprus increased by 12% in the first four months of 2025 compared to the same period last year, reaching 5,541 units. These are the data from the Department of Land Resources and Geodesy.

In April 2025, 1,404 transactions were registered in the country, which is 3% more than in April last year (1,366 transactions).

Number of transactions in January and March 2025:

• Limassol (1756, +12% YoY)
• Nicosia (1286, +15%)
• Larnaca (1185, +15%)
• Paphos (1067, +4%)
• Famagusta (247, +12%)

Meanwhile, according to recently published data from Landbank Analytics, the average selling price of apartments in newly built houses decreased by 11% in 2024 compared to 2023 to 281,000 euros. The average selling price of new homes remained stable at 461,000 euros.

"A more thorough analysis shows a noticeable decrease in sales of expensive new residential real estate in 2024 compared to 2023," said Andreas Kristoforidis, CEO of Landbank Group.

"This decline is largely due to two key factors: firstly, a shift among local buyers towards more affordable housing; and secondly, foreign buyers are increasingly choosing lower-priced properties, which is evident from the slowdown in sales in Limassol."; he added.

About changing customer budgets in our Kirill Ravchenko, General Director of DOM Real Estate, told the material: "It is characteristic that the average budget has dropped significantly recently, that is, either buyers with a small budget have remained, usually those who have been living in Cyprus for a long time and want to buy something with a mortgage or installments, or buyers with extra-large budgets of 10-20 million euros. The second group includes people who have European money and who want to invest it in order to earn income. Plus, the heavyweights who work with cryptocurrency have caught up. They also make meaningful purchases."

Source: //www.homesoverseas.ru/articles/13709Source: Cyprus Mail