Authored by the expert who managed and guided the team behind the Cyprus Property Pack
Everything you need to know before buying real estate is included in our Cyprus Property Pack
Cyprus offers diverse property options from affordable apartments to luxury villas, with average prices varying significantly by location and property type.
As of June 2025, the Cyprus property market shows steady growth with apartment prices averaging around €250,000 and houses averaging €316,000. The island's strategic EU location, favorable tax environment, and Golden Visa program continue driving international demand, particularly in coastal cities like Limassol, Paphos, and Larnaca.
If you want to go deeper, you can check our pack of documents related to the real estate market in Cyprus, based on reliable facts and data, not opinions or rumors.
Cyprus property prices average €2,518 per square meter nationally, with significant variations by location - from €1,330/m² in Larnaca to over €3,500/m² in prime Limassol areas.
The market experienced 2.7% annual growth in Q3 2024, with apartments showing stronger price increases than houses, driven by tourism recovery and tech company relocations.
| Location | 2-Bed Apartment Price | Average Price per m² | Rental Yield |
|---|---|---|---|
| Nicosia | €170,000 - €240,000 | €2,518 | 4.78% |
| Limassol | €270,000 - €550,000 | €2,140 - €5,500 | 5.29% |
| Paphos | €250,000 - €400,000 | €1,780 | 4.25% |
| Larnaca | €250,000 - €380,000 | €1,330 | Not specified |
What types of properties are available in Cyprus, like apartments, villas, or townhouses?
Cyprus offers a comprehensive range of property types to suit different budgets and lifestyle preferences.
Apartments represent the most popular choice, accounting for twice as many transactions as houses or townhouses in the Cyprus market. These range from studio units starting around €110,000 to luxury penthouses exceeding several million euros. Most apartments are located in cities and resort areas, offering modern amenities and low maintenance requirements that appeal to both residents and investors.
Villas and detached houses provide privacy and luxury, particularly popular in coastal areas where many come with private gardens and swimming pools. Prices for villas typically start around €400,000 for basic properties and can exceed €1.4 million for luxury coastal developments. These properties often sit on private land and offer the most space for families.
Townhouses and maisonettes serve as a middle ground between apartments and villas, featuring multiple levels with shared walls. These properties are commonly found in residential complexes and often include access to communal amenities like swimming pools and landscaped gardens. Traditional stone houses in villages offer unique character and charm for buyers seeking authentic Cypriot architecture.
It's something we develop in our Cyprus property pack.
How do average prices vary depending on the location—like Nicosia, Limassol, Paphos, or Larnaca?
Property prices in Cyprus vary dramatically by location, with coastal cities commanding premium prices over inland areas.
Limassol stands as the most expensive market, with prime seafront developments reaching €5,500 per square meter. The city's business district and marina areas see apartment prices ranging from €270,000 to €550,000 for two-bedroom units, while luxury villas start from €1.4 million. Limassol's position as Cyprus's financial center and its concentration of international businesses drive these premium prices.
Nicosia, the capital, offers more affordable options despite being a major business hub. Average prices hover around €2,518 per square meter, with two-bedroom apartments ranging from €170,000 to €240,000. The city's inland location and lower tourism appeal contribute to more moderate pricing compared to coastal areas.
Paphos presents excellent value with average prices of €1,780 per square meter. Two-bedroom apartments cost between €250,000 and €400,000, while family villas range from €400,000 to €650,000. The area's recognition as the world's most liveable small city in 2024 has increased demand while maintaining competitive pricing.
Larnaca offers the most budget-friendly options with average prices of €1,330 per square meter. Despite this affordability, the area has seen strong price growth, with increases of 18.1% in 2024. Two-bedroom apartments range from €250,000 to €380,000, making it attractive for first-time buyers and investors seeking entry-level opportunities.
What's the typical cost per square meter for different property types in key areas?
| Location | Apartments (€/m²) | Houses/Villas (€/m²) | Prime Locations (€/m²) |
|---|---|---|---|
| Nicosia | €1,800 - €2,500 | €2,200 - €2,800 | €2,518 average |
| Limassol | €2,140 - €3,500 | €2,500 - €4,000 | €5,500 (seafront) |
| Paphos | €1,780 - €3,000 | €2,000 - €3,500 | €4,000 (coastal) |
| Larnaca | €1,330 - €2,800 | €1,500 - €3,200 | €4,000 (beachfront) |
| Rural Areas | €800 - €1,500 | €1,000 - €2,000 | €2,500 (premium villages) |
What are the total purchase costs, including legal fees, agency fees, VAT, and registration taxes?
Total purchase costs in Cyprus typically add 3.2% to 25% to the property price, depending on whether you're buying new or resale property.
Legal fees range from 1% to 2% of the purchase price and cover due diligence, contract preparation, and registration procedures. These fees are essential for ensuring clear title and proper legal transfer. Most buyers engage independent lawyers to protect their interests throughout the transaction process.
VAT applies only to new properties and varies based on intended use. First-time buyers purchasing their primary residence pay a reduced 5% VAT rate on the first €350,000 of value, while investment properties and subsequent purchases face the standard 19% VAT rate. This significant difference makes new properties much more expensive for investors.
Transfer fees for resale properties range from 3% to 8% of the property value, currently reduced by 50% as a government incentive. Stamp duty adds 0.15% to 0.2% of the contract value, while land registry fees remain minimal and are usually included in legal costs. Property insurance becomes mandatory when financing through a bank.
Agency fees typically fall on the seller rather than the buyer, ranging from 2% to 5% of the sale price. However, buyers should budget for property surveys, valuation reports, and utility connection fees that can add several thousand euros to the total cost.
How have house prices in Cyprus changed over the last 5 years and in the past year specifically?
Don't lose money on your property in Cyprus
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
Cyprus property prices have demonstrated remarkable resilience and growth over the past five years, with some volatility during the pandemic period.
From 2019 to 2024, the overall trend showed steady appreciation. The market experienced a temporary decline of 3.4% in 2021 due to pandemic-related uncertainties, but quickly recovered in 2022. The post-pandemic recovery brought strong momentum, with prices increasing by 7.7% in 2023 as tourism and international business activity resumed.
In 2024, growth moderated to 2.5% annually, representing the slowest pace since 2022 but still maintaining positive momentum. This deceleration reflects market maturation and increased supply from new developments. However, different property types showed varying performance - apartment prices grew by 13.9% while house prices increased by 4.7%.
The most recent quarterly data from Q3 2024 shows continued but slower growth, with the House Price Index rising 2.7% year-on-year and 0.7% quarter-on-quarter. Regional variations were significant, with Paphos and Larnaca leading growth at 21.4% and 18.1% respectively in 2024, while Limassol showed more moderate increases due to already high baseline values.
It's something we develop in our Cyprus property pack.
What are the forecasts for property prices in Cyprus over the next 1, 5, and 10 years?
Cyprus property market forecasts suggest continued moderate growth with regional variations and cyclical adjustments expected.
For the next 12 months through mid-2026, experts predict modest growth of 3% to 5% annually. This slower pace reflects increased supply from new developments and evolving foreign demand patterns. The tourism sector's record performance in 2025 provides underlying support, while ECB interest rate cuts should improve mortgage accessibility.
The five-year outlook from 2025 to 2030 projects annual appreciation of 4% to 7% in popular areas, with higher growth potential in developing regions. Limassol and Paphos are expected to maintain premium pricing due to limited coastal land availability, while inland areas may see accelerated development and price growth as coastal properties become less affordable.
Over the ten-year horizon through 2035, steady growth seems likely with potential for higher returns in tourism and business hubs. Climate change concerns may increase demand for Cyprus as a relatively stable Mediterranean location, while continued EU membership and tax advantages should sustain international investor interest. However, market observers note that supply increases and regulatory changes could moderate growth rates from historical levels.
Infrastructure developments, including planned airport expansions and improved connectivity, should support long-term appreciation across all regions.
What are example purchase prices for standard 2-bedroom apartments or family homes in each major area?
| Location | 2-Bedroom Apartment | 3-Bedroom Family Home | Luxury Villa (4+ bedrooms) |
|---|---|---|---|
| Nicosia Center | €170,000 - €240,000 | €300,000 - €800,000 | €500,000 - €1,200,000 |
| Limassol Marina | €400,000 - €800,000 | €800,000 - €2,000,000 | €1,400,000 - €5,000,000 |
| Limassol Suburbs | €270,000 - €450,000 | €500,000 - €1,200,000 | €800,000 - €2,500,000 |
| Paphos Town | €250,000 - €400,000 | €400,000 - €650,000 | €600,000 - €1,800,000 |
| Larnaca Center | €250,000 - €380,000 | €440,000 - €790,000 | €700,000 - €1,500,000 |
| Coastal Villages | €200,000 - €350,000 | €350,000 - €600,000 | €500,000 - €1,200,000 |
| Inland Villages | €85,000 - €200,000 | €150,000 - €400,000 | €300,000 - €800,000 |
Which areas are considered most expensive, which ones are up-and-coming, and where can you still find budget-friendly options?
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Cyprus versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
The Cyprus property market clearly segments into distinct price tiers based on location, infrastructure, and development potential.
The most expensive areas center on Limassol's marina and business district, where prime seafront properties can exceed €5,500 per square meter. Ayia Napa's Nissi Beach area and Protaras beachfront developments also command premium prices, often surpassing €4,000 per square meter due to limited coastal availability and high tourism demand.
Up-and-coming areas showing strong growth potential include Oroklini near Larnaca airport, where infrastructure improvements and proximity to business centers are driving increased interest. Paralimni and surrounding coastal villages offer good value with rising appreciation as they benefit from tourism spillover and improved connectivity. Paphos suburbs are experiencing growth as buyers seek more space while maintaining coastal access.
Budget-friendly options remain available in inland villages like Frenaros, Sotira, and Deryneia, where two-bedroom apartments can start from €85,000. Peyia and Polis in western Cyprus offer affordable alternatives with scenic mountain and sea views. Tersefanou, despite its inland location, provides excellent value with modern developments starting below €100,000 for smaller units.
Rural areas throughout the Troodos mountains and central plains offer the lowest prices but require careful consideration of accessibility and resale potential. These locations suit buyers seeking authentic village life or renovation projects.
What are the best areas and types of properties if you're buying to live in Cyprus full time?
Choosing the right location for full-time living in Cyprus depends on lifestyle preferences, work requirements, and budget considerations.
Limassol ranks as the top choice for international professionals and families, offering a cosmopolitan environment with the largest expat community. The city provides excellent international schools, modern healthcare facilities, and a vibrant business district. Properties range from modern apartments in the city center to spacious villas in suburbs like Agios Athanasios, where families benefit from proximity to top-tier schools and recreational facilities.
Nicosia appeals to those seeking authentic Cypriot culture while maintaining urban amenities. As the capital, it offers government services, universities, and cultural institutions. The cost of living remains lower than coastal cities, and property prices provide better value. The city lacks beaches but compensates with rich history and year-round business activity.
Paphos suits retirees and remote workers seeking a relaxed Mediterranean lifestyle. The city combines historical significance with modern infrastructure, including an international airport and hospital. The lower cost of living and slower pace attract many Europeans, while the UNESCO World Heritage sites provide cultural enrichment.
Larnaca offers the most affordable full-time living option with good airport access for frequent travelers. The city maintains a laid-back atmosphere while providing essential services and amenities. Properties near the salt lake or marina offer scenic living at reasonable prices.
For families, suburban areas near international schools should take priority, while professionals may prefer city centers with business amenities.
What makes the most sense financially if you want to rent out your property short term (like Airbnb) or long term?
The choice between short-term and long-term rental strategies in Cyprus depends on location, property type, and management capabilities.
Short-term rentals through platforms like Airbnb generate higher yields in tourist hotspots, particularly coastal areas of Limassol, Ayia Napa, Protaras, and Paphos. Properties within walking distance of beaches or major attractions can achieve annual returns of 15% to 35% for well-managed units. Summer months drive peak demand, with daily rates often exceeding €100 for quality apartments. However, seasonal fluctuations mean lower occupancy in winter months.
Successful short-term rentals require properties with modern amenities, attractive furnishings, and professional management services. Pool access, sea views, and proximity to restaurants significantly impact booking rates. Investors should budget for higher maintenance costs, frequent cleaning, and potential property damage from tourist use.
Long-term rentals provide stable income streams with lower management requirements. Cities like Nicosia, Limassol, and Larnaca show strong demand from expats, students, and professionals, generating yields of 4% to 8% annually. These markets benefit from year-round demand and longer lease agreements that reduce vacancy periods.
Properties near universities, business districts, or international schools command premium long-term rents. Furnished apartments targeting expat professionals can achieve 20% to 30% higher rents than unfurnished units. Long-term strategies require less day-to-day management but depend on maintaining good tenant relationships and property condition.
It's something we develop in our Cyprus property pack.
What are the smartest choices today for people looking to buy and resell at a profit later?
Successful buy-to-resell strategies in Cyprus focus on emerging locations, undervalued property types, and market timing considerations.
Tourist areas continue offering strong appreciation potential, particularly in Limassol's developing neighborhoods and Protaras's expanding resort zones. Properties with unique features like sea views, pool access, or premium locations consistently outperform the market. Ayia Napa's ongoing infrastructure improvements and Paphos's growing international recognition suggest continued demand growth.
Up-and-coming areas present the best value-growth combinations. Oroklini benefits from Larnaca airport expansion and business park developments, while Paralimni offers coastal access at inland prices. Villages near major cities that receive infrastructure improvements often see rapid appreciation as they become more accessible to urban centers.
Off-plan purchases in established developers' projects can provide significant upside if bought early in the development cycle. However, buyers must carefully research developer track records and project viability. Properties in mixed-use developments with commercial components often appreciate faster than residential-only projects.
Luxury properties in prime locations show resilience during market downturns and strong recovery potential. However, they require larger initial investments and longer holding periods. Budget-conscious investors might consider renovation projects in established areas where modern upgrades can significantly increase property values.
Timing remains crucial - buying during market corrections or seasonal lows can improve profit margins significantly when combined with appropriate location and property selection.
How do average property prices in Cyprus compare to similar Mediterranean destinations like Malta, Greece, or southern Spain?
| Destination | Average Price per m² (City Center) | Average Price per m² (Outside Center) | Notes |
|---|---|---|---|
| Cyprus | €2,000 - €3,500 | €1,300 - €2,500 | Most affordable, strong rental yields |
| Malta | €3,600 | €2,800 | Higher prices, limited supply |
| Greece (Athens) | €2,000 - €3,500 | €1,000 - €2,500 | Similar to Cyprus, varies by region |
| Southern Spain (Costa del Sol) | €2,500 - €4,000 | €1,500 - €3,000 | Slightly higher than Cyprus |
| Portugal (Lisbon area) | €3,000 - €5,000 | €1,596 - €3,000 | More expensive, golden visa ending |
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Cyprus maintains its position as one of the most affordable Mediterranean property markets, offering excellent value for both residential living and investment purposes.
As we reach mid-2025, the market shows healthy fundamentals with moderate growth, strong rental demand, and continued appeal to international buyers seeking EU residency through property investment.
Sources
- Cyprus Property Prices in 2025: Real Estate Costs Index
- Cyprus's Residential Property Market Analysis 2025
- Cyprus property prices: cost of buying real estate in 2025 — Tranio
- House prices in Cyprus - 2025 - The Complete List
- Cyprus Real Estate Market: Prices, Purchase Process & Other Expenses
- Real estate in Cyprus 2025: How to Buy a Property with Confidence
- Real Estate Prices in Cyprus in 2024: Overview and Trends
- Cyprus house price index up 2.7% year-on-year