Cyprus sees strong rebound in luxury property sales
Cyprus’ high-end property market experienced a significant recovery in February 2025, with the 50 largest transactions across the island totalling €64.8 million, according to a report released on Monday by real estate analytics firm Ask Wire.
The ten most expensive property transactions alone reached €36.75 million, with Limassol dominating the list by accounting for eight of the ten top deals, collectively worth €26.55 million.
The remaining two high-value transactions were recorded in Paphos, contributing a combined €10.2 million.
The highest-value transaction of the month was the €9.4 million sale of a field in the Tserkezoi area of Limassol.
This was followed by a €7.6 million sale of a mixed-use property in Kato Paphos, and a €3.7 million apartment building in Potamos Germasogeias, Limassol.
Other significant transactions included a €2.6 million house in Kouklia, Paphos; a €2.55 million field in Agios Athanasios – Agios Stylianos, Limassol; a €2.5 million field in the same community; and a €2.3 million house in Germasogeia – Agia Paraskevi.
Two additional Limassol fields in Kato Polemidia – Archangel Michael and Agios Athanasios – Agios Stylianos sold for €2.3 million and €2.1 million respectively.
The tenth most expensive sale was a €1.7 million house in Potamos Germasogeias, Limassol.
In terms of regional performance, Limassol accounted for €29.2 million or 45 per cent of the national total.
Paphos followed with €18 million, representing 27.7 per cent.
Nicosia ranked third with €7.8 million (12 per cent), just ahead of Larnaca, which recorded €7 million (10.8 per cent).
Famagusta trailed with €2.9 million, accounting for 4.5 per cent of the total.
The top transaction in each district reflects this broader trend of concentration, with Limassol and Paphos recording significantly higher-value deals compared to other regions
In Limassol, the €9.4 million field sale represented 32.2 per cent of the district’s total.
In Paphos, the €7.6 million mixed-use property comprised 42.2 per cent of the district’s value.
Nicosia’s top deal was a €1.45 million house (18.5 per cent of its total), followed by a €1.15 million field in Larnaca (16.4 per cent) and a €500,000 house in Famagusta (17.2 per cent).
“February marked a strong rebound in Cyprus’ high-end property market, more than doubling January’s figures,” said Pavlos Loizou, CEO of Ask Wire.
“The surge was driven largely by Limassol, where eight of the top 10 transactions occurred, underscoring the city’s continued appeal to institutional and international investors,” he added.
“Interestingly”, Loizou continued, “although a €9.4 million field sale topped the charts, residential real estate remains the cornerstone of the high-value segment“.
“Of the 50 largest transactions, over 60 per cent were residential – either houses or apartments – highlighting sustained demand for move-in-ready or income-generating assets over speculative land holdings,” he explained.
Loizou also observed geographic imbalances in investor focus. “We’re also seeing notable geographic polarisation,” he said.
“While Limassol and Paphos captured nearly 73 per cent of the market’s top value, districts like Famagusta and Larnaca remain underrepresented, despite offering more competitive pricing,” he added.
He pointed out that “this signals a clear gap – and potential opportunity – in regional development and investor targeting”.
“These insights underline why market participants increasingly rely on data-driven intelligence to make informed decisions – not just on what to buy, but where, when, and why,” Loizou concluded.