Nicosia posts 15 per cent rise in property sales despite August dip

Cyprus’ property market kept its upward course in the first eight months of 2025, with sales documents climbing 13 per cent year-on-year despite a marginal dip in August. 

According to the Department of Lands and Surveys (DLS), 11,689 sales documents were filed between January and August, compared with 10,345 in the same period of 2024. 

Although August marked the first decline of the year, the losses were almost imperceptible. A total of 1,128 sales documents were filed across Cyprus compared with 1,135 a year earlier, a modest drop of 1 per cent. 

This followed a strong summer, with sales up 11 per cent in July and 17 per cent in June. Overall, the market remained broadly stable, with signs of further consolidation. 

Limassol, long the leader of the Cypriot real estate market, again topped the list. It was also the only district to post growth in August, with sales rising 20 per cent to 416 from 346.  

Over the eight-month period, the district recorded 3,720 sales, up 13 per cent from 3,299 last year. 

By contrast, Nicosia also performed strongly overall, with sales rising 15 per cent year-on-year to 2,640 from 2,295.  

However, the capital saw a 7 per cent drop in August compared with the same month in 2024, after a surge of 36 per cent the previous month. 

Similarly, Larnaca posted a solid 15 per cent rise over the January–August period, reaching 2,564 sales from 2,238. Yet in August transactions slipped 9 per cent to 221 from 244. 

In Paphos, the picture was much the same. Sales rose 10 per cent in the first eight months to 2,218 from 2,016, though the month of August brought a 6 per cent fall to 223 from 236. 

Meanwhile, the Famagusta area also recorded growth in the January–August period, with sales climbing 10 per cent to 547 from 497.  

However, August alone saw a sharp 30 per cent fall to just 60, compared with 86 last year. 

Last year, 15,797 sales documents were filed across Cyprus, compared with 15,567 in 2023, showing little overall change. 

Earlier figures from the first half of the year had already pointed in the same direction, with sales documents up 16 per cent and the total value of property transfers approaching €2.3 billion.  

At that stage, Limassol accounted for the highest transfer value at €809.3 million, followed by Nicosia with €554.8m, while Paphos and Larnaca posted double-digit growth in both sales and values.  

Even Famagusta, though smaller in scale, registered notable gains, largely driven by holiday home demand.