Residential property prices in Cyprus continued to climb during the first quarter of 2025, according to new data from the Central Bank of Cyprus (CBC). The latest figures show that while overall growth in real estate values remains strong, there is a noticeable shift in momentum—house prices are gaining pace, while apartment price increases have begun to taper off.
The Residential Property Price Index (RPPI) registered a quarterly rise of 1.9% in Q1 2025, a notable jump from the 0.4% increase recorded in the last quarter of 2024. Broken down by property type, house prices rose 1.8% while apartment prices edged up 1.4% compared to the previous quarter.
On an annual basis, property prices rose by 4.8% in Q1, slightly above the 4.5% growth recorded at the end of 2024. Detached homes led the charge with a 5.6% year-on-year increase, while apartments showed a slower 3.5% rise—marking the first time since 2008 that houses outpaced apartments in yearly growth.
Strong Demand Continues to Drive the Market
Demand remained robust, with sales activity rising across all districts, supported by both local and international buyers. According to the Department of Lands and Surveys, the number of sales contracts filed during Q1 2025 increased year-on-year.
From a supply perspective, there was a slight increase in building permits issued in 2024, signaling steady interest in new construction. Additionally, the European Commission’s Economic Sentiment Survey (March 2025) showed the construction index has stayed positive for six straight quarters, reinforcing market optimism.
Regional Property Trends
Here’s how the districts performed in terms of annual residential price growth:
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Лимассол: Accelerated to 5.7%, with house prices surging 9.1%—a sharp jump from 5.1%.
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Пафос: Despite a slowdown, prices still climbed 12.9% overall; houses increased by 12.7%, and apartments by an impressive 13.8%.
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Фамагуста: Noted a price rise of 7.3%, with house prices holding around 8%.
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Ларнака: Growth moderated to 5.9%, with house prices up 6% and apartment prices up 7.1%.
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Никосия: Overall prices held steady at 0.7%, with house prices actually declining by 1.2%, but apartment prices grew by 3.1%.
These figures signal a maturing real estate market where investor attention might be gradually shifting toward detached homes, especially in districts like Limassol and Paphos.
For those watching the market—whether buying, selling, or investing—this data reaffirms Cyprus’s status as a resilient and attractive real estate destination, with district-specific trends offering tailored opportunities.
Source: Stockwatch.com.cy
