Cyprus resale property market hits €727 million in first half of 2026

Cyprus’ resale property market was worth €727.2 million from 3,202 transactions in the first half of 2026, with substantial differences between districts in terms of prices, transaction volumes and the types of properties changing hands, according to Landbank Analytics.

The analysis found that Nicosia accounted for the largest share of transactions, while Limassol generated the highest total value and the highest residential price per square metre.

Larnaca offered lower entry prices among the major markets, Paphos combined relatively lower transaction volumes with comparatively high values, while government-controlled Famagusta remained a smaller but distinct market.

Nicosia recorded 1,155 transactions worth €195.7m, representing 36.1 per cent of national transaction volume and 26.9 per cent of total value.

Limassol followed with 679 transactions worth €262.9m, accounting for 21.2 per cent of transactions but 36.2 per cent of total value.

Larnaca recorded 642 transactions worth €101.4m, giving it a 20 per cent share of transaction volume and a 13.9 per cent share of value.

Paphos registered 414 transactions worth €121.4m, representing 12.9 per cent of transactions but 16.7 per cent of total value.

Famagusta recorded 312 transactions worth €45.8m, equivalent to 9.7 per cent of transactions and 6.3 per cent of total value.

The figures illustrate the wide gap between transaction volume and capital invested across the districts, with Limassol generating substantially more value despite recording considerably fewer transactions than Nicosia.

“The first-half figures confirm that Cyprus does not have one uniform resale market,” Landbank Group CEO Andreas Christophorides said.

“Nicosia drives transaction volume, Limassol attracts the most capital and records the highest prices per square metre, while the other districts offer different entry points and local hotspots,” he added.

“Buyers, investors and owners increasingly need to assess the specific property type and location rather than rely on a national average,” the chief executive continued.

The overall market remained heavily concentrated in lower and middle price brackets, with 2,702 of the 3,202 transactions, or 84 per cent, involving properties priced at €300,000 or below.

At the same time, the premium end of the market accounted for a disproportionately large share of total value.

Just 26 transactions involving properties priced above €2m represented 0.8 per cent of transactions but generated €125.7m, or 17.3 per cent of total market value.

Properties priced at €100,000 or below accounted for the largest individual price band, with 1,125 transactions worth €63.8m and a median price of €60,000.

A further 680 transactions fell between €100,000 and €150,000, with a total value of €86.9m and a median price of €128,000.

There were 473 transactions between €150,000 and €200,000, worth €83.1m, while 424 transactions between €200,000 and €300,000 were worth €105m.

The €300,000 to €500,000 category accounted for 301 transactions worth €117.1m, while 124 transactions between €500,000 and €1m generated €86.8m.

Properties between €1m and €2m accounted for 44 transactions worth €58.8m, with a median price of €1.24m.

The 26 properties sold for more than €2m had a median price of €3.3m.

The analysis excluded five transactions with a declared price of zero from the price-band and price calculations, meaning the percentages for the price bands were based on 3,197 transactions with a positive declared price.

Apartments were the largest individual property category, accounting for 1,105 transactions, or 34.5 per cent of the total, with a combined value of €166.1m and a median price of €135,000.

Plots accounted for 753 transactions, or 23.5 per cent, and generated €207.1m, while land accounted for 640 transactions, or 20 per cent, worth €155.5m.

Houses represented 570 transactions, or 17.8 per cent, with a total value of €165.5m and a median price of €235,000.

Shops accounted for 83 transactions worth €10.4m, while offices accounted for 51 transactions worth €22.7m.

Two-bedroom apartments were the most frequently traded apartment type, with 328 transactions and a median price of €140,000.

Three-bedroom apartments accounted for 249 transactions at a median price of €162,000, while one-bedroom apartments recorded 245 transactions and the highest median price per square metre among the main bedroom categories at €1,888.

Studios accounted for 148 transactions, with a median price of €76,500 and a median price of €1,806 per square metre.

Residential plots represented 662 transactions, or 87.9 per cent of all plot sales, with a median price of €145,000.

Agricultural land accounted for 327 transactions at a median price of €23,000, while residential land recorded 243 transactions at a median price of €120,000.

Nicosia remained the country’s largest resale market by transaction volume, with 1,155 transactions worth €195.7m and an overall median price of €131,000.

Apartments recorded a median price of €138,000 and a median price of €1,582 per square metre, compared with €215,000 and €1,443 per square metre for houses.

The median year of construction was 2004 for apartments and 1989 for houses.

The district’s apartment market was concentrated at the lower end, with 64.2 per cent of apartments selling for €150,000 or less.

More specifically, 22.3 per cent sold for €100,000 or less, while 41.9 per cent changed hands between €100,000 and €150,000.

Strovolos was the leading location for apartment sales, with 129 transactions, followed by Nicosia city with 98 and Aglantzia with 50.

For houses, Nicosia city recorded 38 transactions, followed by Strovolos with 34, Lakatamia with 24, Latsia with 17 and Dali with 16.

Nicosia’s second-quarter performance also strengthened considerably, with transaction volume rising by 33.8 per cent and total value increasing by 36.3 per cent compared with the first quarter.

Limassol was the largest market by capital invested, recording €262.9m in resale transactions despite having 679 transactions, significantly fewer than Nicosia.

Its overall median price was €220,000, while apartments had a median price of €217,000 and houses €325,000.

Apartments recorded a median price of €2,686 per square metre, while houses reached €2,221 per square metre.

The median year of construction was 1994 for apartments and 1997 for houses.

The Limassol apartment market was more heavily concentrated in the middle and upper price brackets than Nicosia’s.

Some 36 per cent of apartments sold between €200,000 and €300,000, while 13.4 per cent sold between €300,000 and €500,000 and 4.8 per cent between €500,000 and €1m.

Limassol city recorded 86 apartment transactions, followed by Germasogeia with 44, Mesa Geitonia with 22 and Agios Tychonas with 16.

Agios Tychonas recorded the highest median apartment price per square metre among the main hotspots, at €3,382.

In the house market, Limassol city recorded 53 transactions, followed by Agios Athanasios with 17 and Germasogeia with 14.

Pyrgos recorded only seven house transactions but had a median price of €532,500 and a median price of €4,212 per square metre.

Limassol’s second-quarter performance showed the strongest increase among the two largest markets, with transaction volume rising by 72.7 per cent and total value increasing by 175.9 per cent compared with the first quarter.

Larnaca stood out for its lower entry prices, recording 642 transactions worth €101.4m and an overall median price of €115,000.

Apartments had a median price of €111,000 and a median price of €1,528 per square metre, while houses had a median price of €185,000 and €1,425 per square metre.

The median year of construction was 2007 for apartments and 1998 for houses.

The district’s apartment market was particularly concentrated below €150,000, with 81.9 per cent of apartments selling within that range.

Almost 40 per cent of apartments sold for €100,000 or less, while another 42.2 per cent sold between €100,000 and €150,000.

Larnaca city led apartment sales with 118 transactions, followed by Tersefanou with 50 and Oroklini with 30.

For houses, Larnaca city recorded 39 transactions, followed by Aradippou with 16, Oroklini with 14, Kiti with 10 and Pervolia with eight.

Pervolia recorded the highest median house price per square metre among the listed hotspots, at €2,060.

Larnaca also recorded a sharp increase between the first and second quarters, with transaction volume rising by 57.8 per cent and total value by 65.1 per cent.

Paphos recorded fewer transactions but a comparatively high level of value, with 414 resales worth €121.4m and an overall median price of €153,215.

Apartments had a median price of €120,000 and a median price of €1,748 per square metre, while houses reached a median price of €230,000 and €1,886 per square metre.

The median year of construction for both apartments and houses was 2005.

Paphos had the second-highest overall residential median price per square metre after Limassol, at approximately €1,819.

Apartment sales were concentrated towards the lower end, with 39.8 per cent selling for €100,000 or less and another 28.7 per cent between €100,000 and €150,000.

Paphos city dominated apartment sales with 105 transactions, followed by Chloraka with 29 and Peyia with 25.

For houses, Chloraka recorded 22 transactions, followed by Peyia with 19, Paphos city with 16 and Tala with 12.

Tala recorded a median house price of €369,280 and a median price of €2,478 per square metre.

Paphos experienced the sharpest second-quarter increase among the five markets covered by the report, with transaction volume rising by 145 per cent and total value increasing by 234.3 per cent compared with the first quarter.

Famagusta remained the smallest of the five markets, with 312 transactions worth €45.8m and an overall median price of €85,000.

Apartments had a median price of €101,000 and a median price of €1,610 per square metre, while houses had a median price of €255,000 and €1,760 per square metre.

The median year of construction was 1995 for apartments and 2005 for houses.

The district’s apartment market was particularly concentrated in the lower price ranges, with 88.2 per cent of apartments selling for €150,000 or less.

Half of all apartments sold for €100,000 or less, while 38.2 per cent changed hands between €100,000 and €150,000.

Paralimni led apartment sales with 51 transactions, while Ayia Napa recorded 18.

Paralimni also led house sales with 23 transactions, followed by Sotira with 10, Avgorou with six, Deryneia with five and Ayia Napa with three.

Ayia Napa had a median house price of €455,000, making it the district’s selective premium house market, while Paralimni recorded a median house price of €310,000.

Famagusta also recorded a substantial second-quarter increase, with transaction volume rising by 29.4 per cent and total value increasing by 135.7 per cent compared with the first quarter.

Landbank Analytics said its analysis covered the first half of 2026 and was based on the price, year-built and residential transaction fields contained in its resale data.

Residential transactions comprised properties classified as flats and houses, while local hotspots were ranked according to transaction counts at town and village level.