Paphos Overtakes Limassol in Luxury Prices
Cyprus New-Build Property Market Surges in 2025
Cyprus’ new-build residential property market recorded strong performance in 2025. According to Landbank Analytics, which reviewed data from January to October 2025, total sales of newly built houses and apartments approached €2 billion. Limassol remained the undisputed heavyweight in overall transaction value and market activity, yet pricing dynamics revealed a significant shift across regions.
Andreas Christoforides, CEO of Landbank Group, noted a clear transition toward apartment sales, Limassol’s dominance in transaction value, and the emergence of Paphos as a leading destination for ultra-luxury homes.
Apartments Dominate Cyprus Property Transactions
Apartments continued to account for the largest share of transactions. During the ten-month period, 5,059 new apartments were sold compared to 1,138 houses. Nationwide apartment sales reached €1.41 billion, with an average sale price of €280,000.
Although fewer in number, houses achieved substantially higher prices. The average sale price for newly built houses across Cyprus reached €518,000, highlighting sustained demand for larger properties and premium residential developments.
Limassol Leads in Volume, Paphos in Price
Limassol maintained its position as the primary hub of the Cyprus property market, leading in total transaction value and overall activity. The city continues to attract both domestic and foreign buyers due to its infrastructure, business environment, and large-scale development projects.
However, the most notable development was Paphos’ price leadership. Despite ranking fourth in sales volume, with 799 new property transactions, Paphos recorded the highest average sale price nationwide at €470,000, surpassing Limassol.
Paphos Emerges as Ultra-Luxury Housing Destination
The primary driver behind Paphos’ performance was the house segment. The average sale price of a newly built house in Paphos climbed to €697,000. By comparison, the corresponding figure stood at €582,000 in Limassol and €552,000 in Famagusta.
This data confirms that Paphos has become Cyprus’ leading location for high-end residential homes, reflecting growing demand for coastal and resort-style properties with limited premium supply.
Structural Shifts in the Cyprus Real Estate Market
The Landbank Analytics findings highlight two parallel trends shaping the Cyprus property market. Apartments remain the dominant and liquid asset class by transaction volume, while houses, particularly in Paphos, command the highest prices and define the ultra-luxury segment.
The combination of strong overall turnover and rising regional price averages indicates continued resilience and investment appeal in Cyprus’ new-build real estate sector.
As International Investment experts note, Paphos’ pricing leadership signals a strengthening role for resort destinations within the premium housing market and may represent a sustainable trend if international demand remains robust.