Significant conclusions about the average values of the new houses and apartments sold in the first quarter of 2025 are exported from the analysis of the Landbank Analytics platform, which is based on sales documents, which were submitted in the first quarter of 2025 to the Land Registry and Purpose Department. The data also incorporated sales analysis depending on the range of transaction price.
Nicosia: Increase in the average value of houses
The province of Nicosia reported the largest percentage increase (35.5%) in the average value of the sale of newly built houses, from € 304 thousand in the first quarter of 2024 to € 412 thousand in the first quarter of 2025. This increase is, however, largely due to the sale of a housing of € 2.7 million. is limited to 3%. This reflects the intense residential development in the capital, the increase in demand for new homes and the construction of more modern projects. At the same time, the average value of the newly built apartments remained generally stable, as a slight increase of € 189 thousand in 2024 to € 191 thousand in 2025 was recorded. This stability indicates a balanced market with a continuous but not explosive, demand for apartments in the capital.
Limassol: +12.4% in apartments and -12.4% in homes
Contrary to Nicosia, the average values of newly built houses and apartments in Limassol were moved. The average value of selling houses fell from € 444 mm in the first quarter of 2024 to € 389 mm in the first quarter of 2025 with a decrease of 12.4%. Although Limassol is one of the most expensive provinces for houses, this reduction is mainly due to three sales of houses in the province, which were made at low prices. If these three sales are deducted then the average value of the houses rises to € 428 mm and the decrease on an annual basis is limited to -3.6%, which is attributed to the entry of more middle class houses in the market or adjustments after high prices. An increase of 12.4% was recorded annually to the average value of the newly built apartments in Limassol as it amounted to € 372 mm in 2025 compared to € 331 thousand in 2024.
Larnaca: subtle decrease in average apartment value
In Larnaca there was a significant increase (21.5%) in the average value of sales of newly built houses, which amounted to € 389 mm in the first quarter of 2025 from € 320 thousand in the quarter of 2024. This upward trend indicates increased interest and development of new, higher residential projects. A slight decrease (-2.1%) on an annual basis was recorded by the average value of newly built apartments as it fell from € 191 mm in the first quarter last year to € 187 mm in 2025. This reflects a balance in the apartment market, with no large fluctuations, which is a major, resulting in large fluctuations.
Paphos: driving force the houses
The potential of the Paphos province in the housing market is constantly enhanced, which is inextricably linked to its attractiveness as a destination for investors and buyers, mainly from abroad, who are looking for luxury houses, high -value and specifications. In the first quarter of the year the average value of newly built houses recorded a increase of 16.9% compared to the corresponding quarter of 2024 and amounted to € 693 mm (-10.3%), but was recorded in the average value of the apartments, which dropped from € 320 thousand to 2024 to € 2024. Apartments available and secondary to market adjustment after a period of dynamic growth.
Famagusta: Reduce average value
The average values in the Free District of Famagusta were declining annually in both categories of newly built residential real estate. The average value of selling houses was reduced from € 343 mm in the first quarter of 2024 to € 300 mm in the corresponding quarter of this year. During the same period the average value of the apartments decreased from € 201 thousand to 2024 to € 178 thousand in 2025.
It is important to clarify that the average prices relate to all the sales made within the boundaries of each province and not only those, which took place in the centers of cities.
Landbank Group Managing Director Andreas Christoforidis said:
"The trends and dynamics developed in the market for newly built houses and apartments in Cyprus are important as we are in a period of changes in the environment, which affects the demand of both locals and foreign buyers. For example, the reduction of interest rates by the European Central Bank begins to give more boost to the market of local buyers. Beyond that we notice that Paphos remains the top market for luxurious houses and Limassol dominates the most expensive apartments. Nicosia is intense growth in houses and stability in the apartments, while Larnaca is emerging as rising power in houses. Famagusta records a reduction in average prices in both types of real estate, but this is also the result of the small volume of sales. "
