Cyprus Real Estate Market 2025: Record €6.5bn in Transactions
The value of property transactions in Cyprus reached a record €6.5 billion in 2025, up 8% on 2024, according to PwC Cyprus's annual market review. Residential property accounted for 69% of the total, and apartments drove most of the growth.
By RealDeal team · 4 min read · Published 17 Apr 2026 · Updated 8 Oct 2026
Contents
Cyprus property transactions reached a record €6.5 billion in 2025, up 8% from €6.0 billion in 2024, according to the PwC Cyprus Real Estate Market – Year in Review 2025, presented on 16 April. The number of transactions rose 4% to about 25,600. The review shows a market driven by apartments, foreign buyers and the coastal districts. This article summarises its main findings for buyers, investors and developers, and sets them against other data for the year.
A record year in numbers
| Indicator | 2024 | 2025 | Change |
|---|---|---|---|
| Transaction value | €6.0bn | €6.5bn | +8% |
| Number of transactions | 24,700 | 25,600 | +4% |
| Residential transaction value | — | €4.5bn | 69% of total |
| Properties bought by foreign buyers | 6,228 | 7,255 | +16% |
| Luxury transactions (over €1.5m) | — | 203 (€550m) | 8% of total value |
Source: PwC Cyprus, press release of 16 April 2026; foreign buyers: Politis.
The average monthly transaction value was €543 million, Cyprus Mail reported. PwC noted a supportive economic backdrop: the economy grew by a provisional 3.8% in 2025.
Residential property and apartments lead
Residential property remained the engine of the market, with transactions worth €4.5 billion, or 69% of the total. About 15,900 apartments and houses were sold, 7% more than in 2024. The value of apartment transactions rose most strongly: according to PwC, apartments accounted for about 60% of the overall increase in market value.
Districts: Limassol still the largest
Every district grew in transaction value except Limassol, which recorded a marginal drop. Even so, Limassol still accounted for 41% of the total value of transactions. The coastal districts of Paphos, Larnaca and Limassol together accounted for about 80% of the growth in properties bought by foreigners.
Foreign buyers
Foreign buyers acquired 7,255 properties in 2025, 16% more than the 6,228 bought in 2024, and accounted for 28% of all transactions.
The luxury segment
Properties valued above €1.5 million remained a stable niche: 203 transactions worth €550 million, or 8% of total value. Limassol still dominates the segment, but its share fell from 76% in 2024 to 61% in 2025. Paphos rose to 28% of luxury transactions, from 18% a year earlier.
Development pipeline
From January to October 2025, the number of new building permits rose 9% and their total value 28%, which PwC reads as a shift towards higher-quality, higher-value projects. Limassol and Nicosia led in permitted project area. Hotel and leisure developments grew significantly, while retail and warehouse developments declined.
How this fits with other 2025 data
The PwC figures are consistent with other indicators published earlier in the year:
- Sale contracts: DLS data show 18,114 contracts deposited in 2025, 15% more than the 15,797 in 2024.
- Prices: the Central Bank of Cyprus residential property price index rose 7.1% year on year in Q4 2025, with apartments up 9.6% and houses 3.4% (CBN, March 2026).
These measures are not directly comparable: sale contracts count deals when they are signed, the PwC review covers transactions of all property types, and the central bank index tracks prices. Taken together, they point to more deals, higher values and rising prices, led by apartments.
A caveat on 2026
PwC stressed that its findings relate to market activity in 2025, before the outbreak of the war in the Middle East. According to Cyprus Mail, PwC's projections for 2026 were prepared before the conflict, which has added uncertainty to the outlook. Constantinos Constantinou, real estate industry leader at PwC Cyprus, said the sector needs to put more weight on sustainability, quality infrastructure and long-term value, and that market participants should keep reassessing their priorities while the impact of geopolitical developments remains uncertain.
What this means for buyers, investors and developers
- Apartments are the growth engine, accounting for most of the increase in value in 2025.
- Foreign demand is concentrated on the coast: in Paphos, Larnaca and Limassol.
- Limassol remains the largest market, but growth is spreading: other districts outpaced it in value growth, and Paphos is gaining ground in the luxury segment.
- Developers are moving upmarket: permit values grew much faster than permit numbers, with hotel and leisure projects leading.
- The 2026 outlook is less certain than the 2025 figures alone suggest.