The volume of housing sales in new buildings in Cyprus in 2024 exceeded 2 billion euros, according to a report by Landbank Real Estate Analytics. The number of transactions increased by 16.7% compared to 2023. At the same time, apartment sales increased by 22.7% in quantitative terms and by 9% in value terms. Sales of new homes, on the contrary, decreased by 5.6% in quantitative terms and by 5.7% in value terms.
Analysts noted that high property prices in Limassol are forcing foreign investors to look for more affordable options in other parts of Cyprus. Their choice mainly falls on Paphos and Larnaca.
Dynamics of the number of transactions in 2024 by region
Nicosia
- Apartments: +23.6%
- At home: -6.9%
Limassol
- Apartments: +4.2%
- At home: -33.2%
Larnaca
- Apartments: +40%
- At home: +2.5%
Pathos
- Apartments: +67.7%
- At home: +9%
Famagusta
- Apartments: +36.4%
- At home: +36.2%
Source: Cyprus Mail
