The Cypriot property market continued its upward momentum in May 2025, delivering the strongest monthly sales performance in over a decade. Data from the island’s Land Registry reveals that real estate activity is not just bouncing back—it’s accelerating.
Sales Hit a 17-Year High
In May alone, 1,664 property transactions were filed—a number not seen since May 2007, when 2,097 contracts were submitted. That’s a 30% increase from the 1,268 sales recorded in May 2024, and it’s a clear signal that buyer confidence is growing stronger across Cyprus.
This upswing spans all types of real estate: residential, commercial, agricultural, industrial, and land plots.
What’s Fueling the Growth?
Three main trends are helping to drive the current boom:
-
Cooling property prices — The Bank of Cyprus’s Q4 2024 data showed price growth beginning to ease.
-
Smoother permit approvals — Faster turnaround times for planning and building permits are helping buyers and developers alike.
-
Lower borrowing costs — With housing loan interest rates dropping to an average of 3.78%, financing a home or investment has become more attainable.
Sales Growth by District – May 2025
Each district across the island experienced growth in property sales compared to May 2024:
-
Limassol: 525 sales (+18%)
-
Larnaca: 369 sales (+37%)
-
Nicosia: 369 sales (+26%)
-
Paphos: 304 sales (+44%)
-
Famagusta: 77 sales (+54%)
Year-to-Date Numbers Tell the Same Story
Between January and May 2025, a total of 7,185 properties have changed hands across Cyprus—marking a 15% increase from the 6,231 properties sold during the same period in 2024.
Here’s how each district performed in that five-month stretch:
-
Limassol: 2,281 sales (+14%)
-
Nicosia: 1,655 sales (+17%)
-
Larnaca: 1,554 sales (+19%)
-
Paphos: 1,371 sales (+11%)
-
Famagusta: 324 sales (+19%)
The combination of favorable lending conditions, policy improvements, and investor confidence is setting the stage for a robust year in real estate.
Source: Cyprus Property News