All sources have been thoroughly verified for credibility. Furthermore, an industry specialist has reviewed and approved the final article.
Yes, the analysis of Nicosia's property market is included in our pack
Thinking about buying a 3-bedroom apartment in Strovolos? It’s a great area, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other districts in Nicosia where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Cyprus Property Pack.
Will property prices increase in Nicosia in 2025?
Yes, property prices in Nicosia are expected to rise in 2025, driven by a combination of economic growth and increased demand for real estate.
Backed by our fresh, in-depth market analysis, we’re confident that Nicosia remains an attractive market for both local and international investors.
While there are some challenges like economic fluctuations and potential regulatory changes, the main drivers behind Nicosia’s price growth are strong and persistent.
Demand, particularly in the city center and emerging neighborhoods, continues to outpace supply, making significant price drops unlikely. Additionally, Nicosia's role as a cultural and economic hub in Cyprus continues to attract buyers.
Signals pointing to a property price increase in Nicosia
Here are some factors suggesting prices could increase:
The ongoing economic recovery in Cyprus is expected to boost consumer confidence and spending power, leading to increased demand for property in Nicosia.
Nicosia is experiencing a surge in infrastructure development, including new roads and public transport projects, which are likely to enhance property values, especially in areas benefiting from improved connectivity.
The government is offering incentives for foreign investment in real estate, which is expected to attract international buyers and drive up property prices.
A growing trend of urbanization is leading more people to move to Nicosia, increasing demand for housing in the city.
The limited availability of land for new developments in central Nicosia is expected to constrain supply, putting upward pressure on property prices.
Nicosia's status as a business and educational center is attracting professionals and students, further increasing demand for residential properties.
The tourism sector's recovery is expected to boost short-term rental markets, indirectly supporting property price growth as investors seek to capitalize on rental income opportunities.
Signals pointing to a property price decrease in Nicosia
Here are some factors suggesting prices could fall:
Potential regulatory changes aimed at cooling the real estate market could impact investor sentiment and slow down price growth.
Economic uncertainties, such as fluctuations in the global economy, could affect buyer confidence and reduce demand for property.
Rising construction costs could lead to higher prices for new developments, potentially pricing out some buyers and reducing overall market activity.
Get fresh and reliable information about the market in Cyprus
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
If property prices go up in Nicosia, how much would they increase by?
If real estate prices in Nicosia were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in emerging markets like Nicosia appreciates by approximately 3% to 7% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.
It means that, if you spot a charming 2-bedroom apartment in the Old City for 200,000 euros today, don't be surprised if it's priced between 206,000 and 214,000 euros this time next year.
To give you a better understanding, here is a table that shows 7 types of Nicosian real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 3%, 5%, and 7%.
| Type of Property | Average Price in 2024 (€) | Price in 2025 (3% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Traditional Apartment (60 sqm / 646 sqft) | €150,000 | €154,500 | €157,500 | €160,500 |
| Modern Apartment (75 sqm / 807 sqft) | €200,000 | €206,000 | €210,000 | €214,000 |
| Luxury Penthouse (100 sqm / 1,076 sqft) | €500,000 | €515,000 | €525,000 | €535,000 |
| Studio (30 sqm / 323 sqft) | €100,000 | €103,000 | €105,000 | €107,000 |
| Loft (80 sqm / 861 sqft) | €250,000 | €257,500 | €262,500 | €267,500 |
| Townhouse (150 sqm / 1,615 sqft) | €400,000 | €412,000 | €420,000 | €428,000 |
| Investment Property (50 sqm / 538 sqft) | €180,000 | €185,400 | €189,000 | €192,600 |
Everything you need to know is included in our Property Pack for Nicosia
If real estate prices go up in Nicosia, which areas are likely to see the biggest increases?
Today, people who want to move to Nicosia are looking for a blend of historical charm and modern amenities, which Old Town offers. Hence, we could see a price increase there in 2025.
Additionally, there's been a growing interest in vibrant, youthful neighborhoods, and Engomi has really taken off.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Nicosia market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Old Town | High | Recent restoration projects and its appeal to tourists and expatriates are driving demand. |
| Engomi | High | Proximity to universities and a vibrant social scene make it attractive to younger buyers. |
| Strovolos | Medium-High | Ongoing development of commercial and residential projects, along with improved infrastructure. |
| Aglantzia | Medium | The development of eco-friendly housing and new parks is increasing its appeal to families. |
| Lakatamia | Medium-High | New schools and community centers are making it a desirable location for young families. |
| Pallouriotissa | Medium | Investment in local infrastructure and new residential projects are boosting long-term value. |
| Agios Dometios | Medium-High | With new cultural and commercial spaces being developed, this area is seeing increased demand. |
| Kaimakli | High | Upcoming urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Dasoupoli | Medium-High | Its proximity to the city center, along with new office and residential developments, makes it increasingly attractive. |
| Lykavitos | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices. |
| Aglandjia | High | As new luxury developments are launched, demand for premium housing is expected to increase property values. |
| Ayios Andreas | High | Upcoming restoration of historic buildings and high-profile cultural projects are driving renewed focus on this area. |
-The best areas to buy a property in Nicosia
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Nicosia?
In 2025, Nicosia real estate trends focus on tech-smart, energy-efficient apartments, larger suburban homes for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025.
- Family-Sized Apartments in Suburban Areas:
With a growing demand for larger living spaces, especially among families, suburban areas near Nicosia are seeing increased interest. Proximity to green spaces and schools is a major factor driving value.
- Properties with Outdoor Spaces:
Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In dense cities like Nicosia, these features offer a much-needed escape and are likely to drive up property values.
- Eco-Friendly Buildings with Low Carbon Footprints:
Nicosia's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the city’s green goals, leading to price appreciation in this category.
Make a profitable investment in Cyprus
Better information leads to better decisions. Save time and money. Download our guide.
