Apartments dominate Cyprus property market with €1.77bn in sales

Cyprus’ market for newly built residential property continued to show strong demand for apartments in 2025, with buyers of new homes concentrating mainly in lower and mid-range price brackets, according to Landbank Analytics. 

The analysis, based on contracts of sale submitted to the department of lands and surveys for newly built residential properties sold off-plan or under construction, showed that apartments remained the dominant choice for buyers across the island. 

Indeed, the €150,000 to €300,000 category proved the most popular in the apartment segment, accounting for 3,396 transactions, or 53.2 per cent of the total. 

This was followed by the €0 to €150,000 range, which recorded 1,353 sales, representing 21.2 per cent. 

At the same time, 1,205 apartment sales were recorded in the €300,000 to €500,000 bracket, equivalent to 18.9 per cent, while 234 transactions took place in the €500,000 to €750,000 range (3.7 per cent). 

Meanwhile, a total of 60 new apartments were sold for between €750,000 and €1 million, representing 0.94 per cent, while 134 apartments (2.1 per cent), were sold for more than €1m. 

Overall, the apartment segment accounted for the largest share of the new residential property market in 2025, with 6,382 transactions valued at €1.77 billion. 

By contrast, the housing market showed a markedly different structure, with demand concentrated in higher price ranges. 

Of the 1,437 house sales recorded in 2025, the largest share, 574 transactions (40 per cent), fell within the €300,000 to €500,000 range. 

This was followed by the €150,000 to €300,000 bracket, which recorded 405 sales, accounting for 28.2 per cent. 

In addition, 255 houses were sold in the €500,000 to €750,000 category, representing 17.75 per cent, while 80 transactions were agreed in the €750,000 to €1m range (5.6 per cent). 

Sales of homes priced above €1m reached 116 units, accounting for 8.1 per cent, whereas only seven houses (0.5 per cent), were sold for less than €150,000. 

Commenting on the findings, Landbank Group chief executive Andreas Christophorides said apartments remain the primary choice for most buyers and investors, with demand largely concentrated at prices of up to €300,000. 

By contrast, he said, houses have clearly moved into higher price brackets, with 40 per cent of transactions taking place between €300,000 and €500,000. 

He added that, despite market challenges, real estate continues to serve as a backbone of the economy, offering options across the full spectrum of purchasing power, “from affordable housing to luxury property”. 

Moreover, Christophorides described 2025 as “a year of adjustment”, during which the apartment market acted as a safe haven for the average household and small-size investor, while houses became firmly positioned as a choice for buyers with higher income levels. 

Christophorides finally said that “Landbank Analytics remains committed to providing reliable data and strategic analysis, supporting industry professionals, investors and the public in making informed decisions in the real estate sector.”