Authored by the expert who managed and guided the team behind the Cyprus Property Pack
Yes, the analysis of Nicosia's property market is included in our pack
If you're looking to understand the current housing prices in Nicosia, you've come to the right place.
We constantly update this blog post with the latest data from official sources so you always have fresh numbers.
Whether you're a first-time buyer or an investor, this guide will give you a clear picture of what to expect.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Nicosia.
Insights
- The median home price in Nicosia in 2026 sits around €220,000, which is about 15% lower than the Cyprus coastal city average, making the capital relatively affordable for buyers.
- Apartments dominate the Nicosia market at roughly 70% of all transactions, reflecting strong demand from young professionals and smaller households in the city.
- New-build properties in Nicosia command a premium of about 20% over comparable existing homes, driven by energy efficiency standards and modern specifications.
- The price gap between Nicosia's most affordable neighborhoods like Kaimakli and premium areas like Engomi can reach €2,700 per sqm, nearly tripling entry-level costs.
- Closed sale prices in Nicosia typically land about 6% below the final asking price, giving buyers meaningful negotiation room on most residential properties.
- Over the past decade, Nicosia housing prices have risen roughly 30% in nominal terms, but only about 10% when adjusted for inflation.
- A budget of $200,000 in Nicosia in 2026 gets you a decent 2-bedroom apartment around 80 sqm in family-friendly neighborhoods like Strovolos or Lakatamia.
- Luxury penthouses in Engomi start around €750,000 and can exceed €1,500,000 for top-spec units with 180+ sqm of living space.
- Total buying costs in Nicosia can add 8% to 25% on top of the purchase price, depending on whether you're buying resale or new-build with VAT.
What is the average housing price in Nicosia in 2026?
The median housing price is more telling than the average because it represents the true middle of the market, without being skewed by a few very expensive or very cheap properties.
We are writing this as of the first half of 2026 with the latest data collected from authoritative sources like the Central Bank of Cyprus and Global Property Guide, which we manually double-checked for accuracy.
The median housing price in Nicosia in 2026 is €220,000 (about $256,500 or €220,000 since Cyprus uses the euro). The average housing price in Nicosia in 2026 is slightly higher at €260,000 (about $303,200 or €260,000).
About 80% of residential properties in Nicosia in 2026 fall within the price range of €140,000 to €420,000 (approximately $163,000 to $490,000).
A realistic entry range for Nicosia housing in 2026 is €90,000 to €130,000 ($105,000 to $152,000), which typically gets you a 55 sqm older 1-bedroom apartment in neighborhoods like Kaimakli or Pallouriotissa, often needing light renovation.
A typical luxury property in Nicosia in 2026 falls within the €750,000 to €1,500,000 range ($875,000 to $1,749,000), which can get you a 180 sqm new penthouse in Engomi with high-spec finishes, parking, and modern energy standards.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Nicosia.
Are Nicosia property listing prices close to the actual sale price in 2026?
In Nicosia in 2026, closed sale prices are typically about 6% below the final asking price for standard resale homes.
This gap exists mainly because sellers often start with optimistic pricing to test demand, then accept reductions after viewings and negotiation. The difference tends to be larger for properties that sit on the market longer or when buyers need bank financing, since mortgage valuations can constrain what buyers can actually pay.
Get fresh and reliable information about the market in Nicosia
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What is the price per sq m or per sq ft for properties in Nicosia in 2026?
As of early 2026, the median housing price per sqm in Nicosia is €2,150 (about $2,507 per sqm or €200 per sqft / $233 per sqft). The average price per sqm in Nicosia is €2,200 (about $2,565 per sqm or €204 per sqft / $238 per sqft).
In Nicosia in 2026, smaller new apartments in prime locations have the highest price per sqm because buyers pay a premium for location, convenience, and modern energy efficiency, while older larger homes needing renovation have the lowest price per sqm due to renovation risk and outdated layouts.
The highest price per sqm in Nicosia in 2026 is found in neighborhoods like Engomi and Makedonitissa, ranging from €2,800 to €4,200 per sqm. The lowest ranges are in areas like Kaimakli and Pallouriotissa, where prices typically fall between €1,500 and €2,000 per sqm.
How have property prices evolved in Nicosia?
Compared to one year ago (January 2025), Nicosia housing prices have increased by about 3% in nominal terms, or roughly 2% after adjusting for inflation. This modest growth reflects continued apartment demand from smaller households, while increased new supply has kept price rises steady rather than dramatic.
Compared to ten years ago (January 2016), Nicosia housing prices have risen approximately 30% in nominal terms, but only about 10% in real terms after accounting for inflation. This decade-long increase came from the post-crisis market recovery and a shift toward modern, energy-efficient homes that command higher prices per sqm.
By the way, we've written a blog article detailing the latest updates on property price variations in Nicosia.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Nicosia.
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.
What types of properties are available and how do prices vary in Nicosia in 2026?
In Nicosia in 2026, apartments make up about 70% of the market, houses represent roughly 25%, townhouses and maisonettes around 3%, and high-end villas or penthouses about 2%, reflecting the city's urban character and strong demand for apartment living.
Here are the average prices by property type in Nicosia as of the first half of 2026: studios and 1-bedroom apartments average €150,000 ($175,000), 2-bedroom apartments average €220,000 ($257,000), 3-bedroom apartments average €320,000 ($373,000), townhouses average €340,000 ($396,000), detached houses average €430,000 ($501,000), and luxury villas or penthouses average €1,050,000 ($1,220,000).
If you want to know more, you should read our dedicated analyses:
- How much should you pay for a house in Nicosia?
- How much should you pay for an apartment in Nicosia?
How do property prices compare between existing and new homes in Nicosia in 2026?
In Nicosia in 2026, new-build properties typically cost about 20% more per sqm than comparable existing homes in the same neighborhood.
This premium exists because new homes come with modern energy efficiency, better insulation, contemporary layouts, and lower immediate maintenance costs, all of which buyers are willing to pay more for.
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How do property prices vary by neighborhood in Nicosia in 2026?
Engomi (Egkomi) is one of the most popular neighborhoods for expats in Nicosia, with a mix of modern apartments and higher-end homes. Average home prices in Engomi range from €220,000 to €900,000 ($257,000 to $1,050,000), driven by proximity to embassies, universities, and strong rental demand.
Strovolos is a large family-friendly area with good amenities and easy access across the metro area. Average home prices in Strovolos range from €170,000 to €450,000 ($198,000 to $525,000), making it a balanced choice for families seeking value and convenience.
Aglandjia (Aglantzia) offers a residential but connected lifestyle with a mix of apartments and family homes. Average home prices in Aglandjia range from €180,000 to €480,000 ($210,000 to $560,000), reflecting its popularity among local families and professionals.
You will find a much more detailed analysis by areas in our property pack about Nicosia. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range | Avg per sqm | Avg per sqft |
|---|---|---|---|---|
| Kaimakli | Value / renovation | €90k-€220k ($105k-$256k) | €1,500-€2,000 ($1,749-$2,332) | €139-€186 ($162-$217) |
| Pallouriotissa | Value / central-ish | €110k-€260k ($128k-$303k) | €1,650-€2,200 ($1,924-$2,565) | €153-€204 ($178-$238) |
| Old City (within walls) | Lifestyle / character | €140k-€380k ($163k-$443k) | €1,900-€2,700 ($2,215-$3,149) | €177-€251 ($206-$293) |
| City Centre (outside walls) | Commute / convenience | €160k-€420k ($187k-$490k) | €2,000-€3,000 ($2,332-$3,498) | €186-€279 ($217-$325) |
| Strovolos (general) | Family / amenities | €170k-€450k ($198k-$525k) | €1,900-€2,800 ($2,215-$3,265) | €177-€260 ($206-$303) |
| Dasoupoli (Strovolos) | Popular / mid-up | €200k-€520k ($233k-$606k) | €2,200-€3,100 ($2,565-$3,615) | €204-€288 ($238-$336) |
| Aglandjia (Aglantzia) | Popular / balanced | €180k-€480k ($210k-$560k) | €2,100-€3,200 ($2,449-$3,732) | €195-€297 ($227-$346) |
| Acropolis | Prime / central | €220k-€650k ($257k-$758k) | €2,500-€3,600 ($2,915-$4,195) | €232-€334 ($270-$389) |
| Engomi (Egkomi) | Expat / premium | €220k-€900k ($257k-$1,050k) | €2,800-€4,200 ($3,265-$4,895) | €260-€390 ($303-$455) |
| Makedonitissa | Premium / new-build | €240k-€950k ($280k-$1,108k) | €2,700-€4,100 ($3,149-$4,778) | €251-€381 ($293-$444) |
| Latsia | Family / newer stock | €180k-€520k ($210k-$606k) | €1,850-€2,600 ($2,157-$3,032) | €172-€242 ($200-$282) |
| Lakatamia | Family / value | €170k-€480k ($198k-$560k) | €1,750-€2,400 ($2,041-$2,798) | €163-€223 ($190-$260) |
How much more do you pay for properties in Nicosia when you include renovation work, taxes, and fees?
In Nicosia in 2026, the total cost of buying a property is typically 8% to 25% higher than the purchase price alone, depending on whether you're buying a resale home (lower end) or a new-build with VAT (higher end).
If you buy a property around $200,000 (about €171,500) in Nicosia, expect to pay roughly €15,000 to €25,000 in additional costs for fees, taxes, and minor adjustments. That brings your all-in cost to approximately €186,500 to €196,500 ($217,000 to $229,000).
For a property around $500,000 (about €428,500) in Nicosia, additional costs would typically range from €35,000 to €85,000 depending on VAT status and any renovation needs. Your total investment would be approximately €463,500 to €513,500 ($540,000 to $599,000).
For a property around $1,000,000 (about €857,000) in Nicosia, expect additional costs between €70,000 and €170,000, bringing your all-in cost to approximately €927,000 to €1,027,000 ($1,081,000 to $1,197,000).
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Nicosia
| Expense | Type | Estimated Cost Range and Explanation |
|---|---|---|
| VAT (new builds) | Tax | 5% reduced rate if eligible for primary residence, up to 19% standard rate otherwise. This is often the largest additional cost on new properties. Eligibility depends on property size limits and personal residence requirements. |
| Transfer fees (resales) | Fee/Tax | Typically a few percent of the property value, varying by case. This mainly applies to resale properties where VAT was not charged. The exact rate depends on property value brackets. |
| Stamp duty | Tax | Usually fractions of a percent, making it a small cost relative to other fees. Paid when signing the sale contract. Typically €500 to €2,000 on most residential transactions. |
| Legal fees | Service | Around 1% of the purchase price is common market practice, or €2,000 to €10,000 ($2,300 to $11,700). Covers contract review, title searches, and registration assistance. Essential for protecting your interests. |
| Survey and inspections | Service | €400 to €1,200 ($470 to $1,400) depending on property size and complexity. Recommended for older properties to identify hidden issues. Can save significant money by catching problems early. |
| Renovation (if needed) | Capital expense | €300 to €900 per sqm ($350 to $1,050 per sqm) for light to solid renovation work. Older apartments in areas like Kaimakli often need €15,000 to €40,000 in updates. New builds typically require no immediate renovation. |
We made this infographic to show you how property prices in Cyprus compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Nicosia in 2026 with different budgets?
With $100,000 (about €85,500) in Nicosia in 2026, the market is tight, but you could find a 35-40 sqm studio in Kaimakli in basic condition, a 45 sqm 1-bedroom apartment in Pallouriotissa needing light renovation, or a small 1-bedroom on the fringe of the Old City in an older building.
With $200,000 (about €171,000) in Nicosia in 2026, you could buy a 65-75 sqm 1-2 bedroom apartment in Lakatamia in decent condition, a 75-85 sqm 2-bedroom apartment in Strovolos from the mid-2000s, or a 70-80 sqm 2-bedroom apartment in Aglandjia with average finishes.
With $300,000 (about €257,000) in Nicosia in 2026, you could purchase a 90-100 sqm 2-bedroom apartment in Dasoupoli in good condition, a 110 sqm 3-bedroom apartment in Strovolos in a family-oriented building, or a small 110-120 sqm townhouse in Latsia with basic yard and parking.
With $500,000 (about €428,500) in Nicosia in 2026, you could buy a 180-220 sqm detached family house in Lakatamia, a large 140-160 sqm upgraded 3-bedroom apartment in Acropolis, or a newer 120-140 sqm 3-bedroom apartment in Engomi.
With $1,000,000 (about €857,000) in Nicosia in 2026, you could purchase a 160-200 sqm new penthouse in Engomi with high-spec finishes, a 250-320 sqm renovated premium detached house in better parts of Strovolos, or a 280-350 sqm luxury villa in Latsia hills.
With $2,000,000 (about €1,714,000) in Nicosia in 2026, the market is quite thin at this level, but options include a 400-600 sqm signature villa in Engomi or premium suburbs, a 500+ sqm large luxury villa in premium Strovolos with top finishes, or a bespoke high-end trophy home in a central premium location.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Nicosia.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Nicosia, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Central Bank of Cyprus RPPI | It's the official central bank housing price index used for policymaking and financial stability monitoring in Cyprus. | We used it to anchor recent price momentum and quarterly and annual changes. We also used it to keep our January 2026 narrative consistent with official trends. |
| Statistical Service House Price Index | It's an official government statistics release describing methodology and the national house price index for Cyprus. | We used it to cross-check the big picture direction of Cyprus-wide prices. We also used it as a sanity check that our Nicosia estimates stay aligned with national signals. |
| PwC Cyprus Real Estate Review 2024 | PwC is a major global consultancy using Department of Lands and Surveys transaction records for their analysis. | We used it to ground our story in real transaction activity and market structure. We also used it to understand negotiation dynamics and buyer mix patterns. |
| Landbank Analytics | It's a structured dataset built from sale contracts filed with the Department of Lands and Surveys by a major local market analytics firm. | We used it to convert per-sqm figures into realistic ticket sizes for Nicosia. We also used it to triangulate that our implied price levels match actual new-build transactions. |
| Global Property Guide | It's a long-running international property data publisher with a clearly stated update cycle and an explicit Nicosia benchmark. | We used it as a transparent benchmark for typical price per sqm in Nicosia close to January 2026. We then triangulated it against other sources to produce our estimates. |
| Gov.cy HICP Inflation Data | It's the official inflation release used for the EU's harmonised inflation framework. | We used it to inflation-adjust our 1-year and 10-year price comparisons. We also used it to explain why real price growth can look smaller than nominal growth. |
| Bank of Cyprus Exchange Rates | It's a major domestic bank publishing timestamped FX tables used by real consumers and businesses. | We used it to convert all EUR prices into USD consistently across the entire article. We kept one rate (€1 = $1.166) for simplicity and clarity. |
| Cyprus Tax Commissioner VAT Guide | It's the official government source for reduced VAT rate eligibility on primary residences in Cyprus. | We used it to anchor our VAT estimates for new-build properties. We referenced the 5% reduced rate eligibility criteria in our additional costs section. |
| Cyprus Statistical Service (CYSTAT) | It's the official national statistics agency providing demographic and economic data for Cyprus. | We used it to understand housing demand drivers like household formation. We also cross-referenced population trends affecting the Nicosia market. |
| Central Bank of Cyprus Main Site | It's the primary monetary authority overseeing financial stability and publishing key economic indicators. | We used it for broader economic context affecting the housing market. We monitored their publications for any policy changes impacting mortgage availability. |
| Department of Lands and Surveys | It's the official government body recording all property transactions and maintaining land registry data. | We used it indirectly through sources like Landbank and PwC that compile DLS data. We validated that transaction-based estimates align with official records. |
| RICS (Royal Institution of Chartered Surveyors) | It's a globally recognized professional body setting valuation standards used by Cyprus property professionals. | We referenced RICS standards when discussing valuation practices. We ensured our methodology aligns with professional appraisal approaches. |
| Eurostat | It's the official statistical office of the European Union providing comparable cross-country economic data. | We used it for EU-harmonised price indices and inflation data. We validated that Cyprus trends fit within broader European housing market patterns. |
| European Central Bank | It's the central bank for the eurozone, setting monetary policy that directly affects Cyprus mortgage rates. | We monitored ECB rate decisions impacting buyer affordability. We factored interest rate environment into our market momentum analysis. |
| Cyprus Investment Promotion Agency | It's the official government agency promoting investment in Cyprus with detailed market information. | We used it to understand foreign buyer activity and investment patterns. We validated expat-popular neighborhood dynamics from their market reports. |
| KPMG Cyprus | It's a major global consultancy with local expertise in Cyprus tax and real estate matters. | We cross-referenced their tax guides for property transaction costs. We validated our fee estimates against their professional guidance. |
| EY Cyprus | It's a global professional services firm providing detailed Cyprus real estate and tax analysis. | We used their market reports for additional validation of trends. We referenced their tax guidance when explaining buyer costs. |
| Deloitte Cyprus | It's a major professional services firm with extensive Cyprus real estate market research. | We reviewed their market outlooks for demand trend validation. We incorporated their insights on market structure and buyer preferences. |
| International Monetary Fund | It's an authoritative international body providing economic assessments and forecasts for Cyprus. | We checked IMF reports for macroeconomic factors affecting housing. We ensured our price trajectory aligns with broader economic expectations. |
| World Bank | It's a leading international institution providing economic data and development indicators globally. | We used it for comparative economic context. We validated Cyprus housing affordability metrics against regional benchmarks. |
| Numbeo | It's a widely-used cost of living database with crowdsourced and verified property price data. | We cross-referenced their Nicosia price data as an additional validation point. We compared their ranges against official sources for consistency. |
| Deloitte Property Index Europe | It's an annual European residential property market comparison from a major consultancy. | We used it to contextualize Nicosia prices within European markets. We validated that Cyprus pricing fits regional affordability patterns. |
| Housing Europe | It's the European Federation of Public Housing providing housing market research and policy analysis. | We referenced their reports for broader housing market trends. We ensured our supply and demand narrative aligns with European patterns. |
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