A remarkable 46% surge in domestic property sales in Limassol single-handedly propped up the Cypriot real estate market in August, offsetting significant declines in all other districts. A detailed analysis from the Department of Lands and Surveys released Friday shows that while overall property sales dipped by a marginal 1% compared to last year, the domestic market remained stable thanks entirely to Limassol’s exceptional performance.
A Market of Contrasts
The data for August 2025 paints a picture of a sharply divided domestic market. While Limassol’s sales to local buyers soared, every other district experienced a downturn.
The key figures for the domestic segment include:
- Limassol: +46%
- Larnaca: -36%
- Famagusta: -33%
- Paphos: -23%
- Nicosia: -6%
This divergence kept the total number of domestic sales almost identical to the previous year, with 649 contracts deposited versus 650 in August 2024.
The Overseas Buyer Segment
The slight overall dip in the market was driven by a modest 1% decrease in sales to foreign buyers. This segment also showed mixed results:
- Sales to EU nationals recorded a small 3% increase, led by gains in Larnaca and Paphos.
- Sales to non-EU nationals, a key market segment, dropped by 3%, with declines in Limassol, Nicosia, and Famagusta.
Market analysts suggest that the extreme heatwave experienced in August, with temperatures frequently exceeding 40°C, may have dampened activity, particularly among overseas buyers.
Year-to-Date Performance Shows Strong Growth
Despite the mixed results for August, the broader trend for 2025 remains overwhelmingly positive. For the first eight months of the year, the real estate market has shown robust growth compared to the same period in 2024.
Domestic sales are up 12%, while overseas sales have increased by 14%. This indicates that the August figures may be a temporary slowdown in an otherwise strong year.
Source: Cyprus Property News