Cyprus Property Prices Up 4.8% in Q1 2025: Houses Lead
Residential property prices in Cyprus rose 4.8% year on year in the first quarter of 2025, according to the Central Bank of Cyprus. House prices rose 5.6% and apartments 3.5%, the first time since 2008 that apartments grew more slowly.
By RealDeal team · 2 min read · Published 4 Jul 2025 · Updated 8 Oct 2026
Residential property prices in Cyprus rose 4.8% year on year in Q1 2025, up from 4.5% in Q4 2024, according to the Central Bank of Cyprus (CBC) Residential Property Price Index, published in early July. On a quarterly basis the index rose 1.9%, compared with 0.4% in the previous quarter.
Houses overtake apartments
House prices rose 5.6% year on year, an acceleration, while apartment price growth slowed to 3.5%. According to the CBC, this was the first time since 2008 that apartment prices grew more slowly than house prices.
Districts
Overall price growth accelerated only in Limassol, to 5.7%. It slowed in Larnaca, Paphos and Famagusta, although Paphos still recorded the highest rate. Nicosia held steady at 0.7%, with house prices in the capital declining. In Limassol, house prices rose 9.1%, up from 5.1% in the previous quarter.
| District | All homes, y/y |
|---|---|
| Paphos | +12.9% |
| Famagusta | +7.3% |
| Larnaca | +5.9% |
| Limassol | +5.7% |
| Nicosia | +0.7% |
Q1 2025 vs Q1 2024. Source: CBC.
Demand and supply
The CBC reported higher numbers of sale contracts in every district and linked the rise in purchases by foreign buyers to faster quarterly price growth. According to DLS data, 4,137 contracts were deposited in January–March 2025, 15% more than a year earlier. On the supply side, building permits rose slightly in 2024 compared with 2023, and the European Commission's survey index of construction activity stayed positive for a sixth consecutive quarter.