The high-end real estate scene in Cyprus saw a noticeable cool-down in April 2025, with a clear drop in transaction value, especially at the luxury tier.
Luxury Sales Dip Significantly
New data from Ask Wire, a property data firm blending tech and real estate insights, reveals that the 10 priciest property sales on the island in April totalled €18.4 million, while the top 50 combined reached €43.8 million.
That marks a significant retreat from March. According to CEO Pavlos Loizou, April showed a sharp contraction in activity, as the value of the top 50 luxury sales fell by 52.8% month-on-month.
Highest Sale: Engomi, Nicosia
Topping the list was a €3.3 million land plot in Engomi, located in Nicosia. Notably, six out of the ten highest-value deals were land sales, highlighting a growing preference for undeveloped assets among luxury buyers.
Where Are the Luxury Sales Happening?
Sales remained fairly evenly spread across major districts, with Paphos accounting for four of the top ten transactions, Limassol for three, Nicosia for two, and Larnaca for one.
When looking at total value:
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Limassol led slightly, contributing €11.4 million (26%)
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Paphos came in at €11.1 million (25.3%)
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Nicosia followed with €10.8 million (24.7%)
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Larnaca reached €6.3 million (14.4%)
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Famagusta trailed with €4.2 million
What’s Selling and for How Much?
Despite Limassol’s reputation for ultra-luxury properties, the April figures suggest a moderation. Two of its top 10 properties were sold for under €1 million, with the rest mostly below €1.8 million — indicating strong movement in the lower end of the luxury spectrum.
Out of the 50 most expensive transactions, only 18 topped €1 million.
Breakdown by Property Type:
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22 houses
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13 land plots
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7 building plots
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6 flats
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1 apartment block
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1 commercial property
Final Takeaway
April’s figures point to a recalibration in the Cypriot luxury market — not just in total value but also in the types of assets investors are chasing. With land transactions gaining traction and fewer ultra-high-value sales, the definition of “luxury” may be shifting.
Source: Cyprus Property News
