In an impressive display of resilience and momentum, Cyprus recorded one of its strongest months of property market activity in June 2025. According to the Land Registry, 1,544 property sale contracts were submitted which constitutes an outstanding 17 percent increase compared to June 2024’s 1,322 contracts. This surge places June as the second-highest month historically, surpassed only by the all-time peak of 1,950 contracts registered in June 2007.
Nationwide Drivers of Growth
It looks like nothing can stop the upward curve of the Cyprus property market. The ongoing wars, the economic and political instability in the area, the recent USA tariffs on EU, do not seem capable of stopping the segment to grow.
This boom is far from limited to one region. Larnaca led the charge with a remarkable 44 percent yearly increase in transactions, eclipsing the national rate and establishing the city as the fastest-growing district. Meanwhile, Famagusta also delivered a strong performance with a 21 percent uplift, Limassol and Paphos recorded healthy gains of around 13 percent each, while Nicosia saw a modest 2 percent rise.
H1 2025 Performance: A Strong Start
From January through June, Cyprus witnessed 8,729 property sales—a total that ranks as the second-busiest first half of any year. Only 2007 surpassed this figure with 10,258 recorded contracts. The early months of 2025 thus affirm a solid upward trajectory.
Domestic Buyers: Powering the Core Market
Local buyers maintained a commanding presence, constituting approximately 63 percent of June’s transactions. Nearly all regions experienced domestic growth:
- Larnaca led again with a domestic sales increase of 45 percent
- Limassol saw a 12 percent rise
- Paphos grew 9 percent
- Famagusta recorded an 8 percent gain
- Nicosia was the sole exception, with a slight increase of 2%.
Overall, domestic sales climbed by 15 percent in H1 compared to the same span in 2024, underscoring consistent demand across Cyprus.
International Buyers: Rising Share, Geographic Dynamics
Foreign investors played a pivotal role, accounting for 37 percent of June transactions. Growth was rampant across districts:
- Larnaca and Famagusta both saw foreign buyer activity surge by 43 percent
- Nicosia grew by 33 percent
- Paphos and Limassol posted 17 percent and 15 percent increases, respectively
Cumulatively for H1, non-domestic sales rose by 16 percent, indicating sustained international interest.
EU-Citizen Buyers
June saw 189 sales to EU nationals—making up 12 percent of transactions—a 29 percent jump from June 2024. District-level performance included:
- Nicosia: up 136 percent
- Larnaca: up 56 percent
- Limassol: up 15 percent
- Famagusta: down 8 percent
- Paphos: stable
On overall trends, EU-national purchases climbed 27 percent in H1 2025 compared with H1 2024.
Non-EU Buyers
Non-EU nationals concluded 387 deals in June—around 25 percent of all transactions—marking a 24 percent rise year over year. Notable district breakdown:
- Famagusta led with a staggering 125 percent increase
- Larnaca followed with a 38 percent gain
- Paphos rose by 25 percent
- Limassol climbed 15 percent
- Nicosia declined by 17 percent
For January through June, non-EU sales climbed 12 percent, with all districts showing growth.
Are Cypriots Actually Switching from Renting to Buying?
The short answer is yes—but it depends on individual circumstances:
In high‑rent cities such as Limassol, where rent can exceed €2,500/month for apartments and salaries remain moderate, buying increasingly pays off in the long term.
First-time buyers, especially families or young professionals, are starting to prefer homeownership to avoid the unpredictability and rising cost of renting. When buying is an option and financially viable, people tend to prefer it because of uncertainty regarding high rent prices and future expectations in regards to rent prices. This has had a significant shift in the demand for buying instead of renting, and has affected mostly suburban areas where land is cheaper and opportunities and more feasible.
Emerging Hotspots & Market Shifts
A striking feature of the first half of 2025 has been the rise of Paphos and Larnaca as preferred destinations for international investors—often eclipsing the traditionally dominant Limassol. Interestingly, Paphos saw a greater number of non-EU purchasers compared to local residents, signaling a drastic change in the composition of buyers.
Nearby geopolitical instability has increased Cyprus’s attractiveness as a safe shelter. This shift is particularly pronounced in Larnaca and Famagusta, where the international interest has greatly increased.
Outlook: Continued Growth Anticipated
A cyclical comparison of the monthly filing of contracts from 2008 to 2025 indicates a developing market driven by foreign investment, changing priorities at the district level, and shifting demographics among buyers. Cyprus market is still diversifying its property assets and courting foreign investment. The island is expected to remain a leading and attractive real estate investment hub.
