Geopolitical turmoil may have affected the property market in the second quarter of the year

The 50 highest-value property transactions completed in Cyprus during the first six months of 2026 were worth a combined €286.4 million, according to analysis released by real estate analytics firm Ask Wire.

The analysis examined the country’s 50 largest property sales completed between January and June 2026, as well as how those transactions were distributed across Cyprus’ districts.

The company, which uses technology to monitor property transactions, asking prices and construction activity, found that the 10 largest transactions alone accounted for €161.7 million of the total.

The single largest transaction, valued at €55 million, involved a building and adjoining fields in Moni, Limassol district.

Among the 10 most expensive property transactions nationwide, Limassol accounted for six sales with a combined value of €117.2 million.

Paphos followed with three transactions worth a combined €35.5 million, while Larnaca recorded one sale valued at €9 million.

According to the analysis, the findings reinforce Limassol’s position as Cyprus’ dominant high-value property market.

The district’s 10 largest transactions reached €148.2 million, representing 51.7 per cent of the total value of the 50 biggest property sales completed during the first half of the year.

Paphos ranked second, with its 10 largest transactions exceeding €68.8 million, accounting for 24 per cent of the total value recorded by the top 50 transactions.

In Nicosia, the 10 largest transactions reached €26.7 million, the company reported.

The Famagusta district marginally outperformed Larnaca, with its 10 biggest transactions reaching €21.4 million, compared with €21.2 million in Larnaca.

Commenting on the findings, Ask Wire chief executive Pavlos Loizou said that the country’s largest transactions continued to be driven primarily by land acquisitions.

“The land market dominates the list of the 10 highest-value property transactions, with seven sales involving fields and plots,” Loizou said.

“Looking at the locations where these transactions took place, it becomes evident that they concern prime development sites, which are likely to be utilised in the coming period to support the development of luxury residential projects and, potentially, the hospitality sector,” he added.

Loizou also said that the market continued to show growing demand for office properties, linking this trend to the expansion of international businesses operating in Cyprus.

“At the same time, we continue to observe growing demand for office properties, reflecting the expansion of the new ecosystem of international companies that has been establishing itself in Cyprus in recent years,” Loizou said.

“It is also worth noting, purely from a statistical perspective, that eight of the 10 highest-value transactions recorded during the first half of the year were completed in the first quarter of 2026,” he continued.

He suggested that this pattern may be connected to geopolitical developments affecting investor sentiment later in the year.

“This is a trend that cannot be viewed independently of the uncertainty created by the ongoing conflict in the Middle East, which appears to have influenced investment decisions during the second quarter of the year,” Loizou concluded.