The market in official numbers
Cyprus's benchmark is the Central Bank of Cyprus Residential Property Price Index — valuation-based, built from bank-commissioned valuations by 100+ surveyor offices (2010 Q1 = 100), published quarterly. The 2026 Q1 release (23 June 2026): overall index 107.1, up 7.5% year on year and 2.3% on the quarter. Houses: 95.6, +3.0%. Apartments: 127.0, +10.8%.
Read those index levels: apartments nationally stand 27% above their 2010 base while houses are still 4.4% below it. Foreign-buyer demand for apartments is the engine — sales contracts to foreign buyers rose 22.3% y/y in Q1 2026 (2,044 contracts) against +8.1% for locals; total contracts +13.8% (4,709). All figures cover the government-controlled Republic of Cyprus only.
Say it plainly: the CBC publishes an index, not prices. There is no official national €/m² figure for Cyprus — portal-derived €/m² numbers circulate on blogs, and we don't publish them. For price levels, the best available data is Landbank Analytics' district averages, compiled from Land Registry transactions — but they cover new-build sales only, and resale stock is generally cheaper. Both datasets are below, labelled.
Prices area by area
First, direction — the official CBC district indices, 2026 Q1, year on year:
| District | Overall y/y | Apartments y/y | Houses y/y | Index level (2010=100) | Basis |
|---|
| Limassol | +9.1% (decelerating) | +10.7% | +2.4% | 126.5 | OFFICIAL — CBC RPPI, Q1 2026 |
| Larnaca | +8.9% (accelerating) | +11.7% | +5.1% | 101.2 | OFFICIAL — CBC RPPI, Q1 2026 |
| Paphos | +6.4% (decelerating) | +6.4% | +5.2% | 115.6 | OFFICIAL — CBC RPPI, Q1 2026 |
| Nicosia | +2.8% (accelerating) | +3.0% | +1.8% | 88.3 | OFFICIAL — CBC RPPI, Q1 2026 |
| Famagusta | 0.0% | +1.3% | −0.7% | 94.5 | OFFICIAL — CBC RPPI, Q1 2026 |
Then, levels — average sale prices for new-build transactions, full-year 2025, compiled from Department of Lands & Surveys data by Landbank Analytics. New-build only; resale runs cheaper, especially in Paphos and Larnaca:
| District | Avg apartment (new-build) | ≈ USD | Avg house (new-build) | ≈ USD | Basis |
|---|
| Limassol | >€425,000 | >$497,000 | €583,000 | $682,000 | New-build sales — Landbank/DLS, 2025 |
| Paphos | ~€320,000 | ~$374,000 | ~€710,000 | ~$831,000 | New-build sales — Landbank/DLS, 2025 |
| Larnaca | ~€200,000 | ~$234,000 | ~€385,000 | ~$450,000 | New-build sales — Landbank/DLS, 2025 |
| Famagusta | ~€194,000 | ~$227,000 | >€513,000 | >$600,000 | New-build sales — Landbank/DLS, 2025 |
| Nicosia | ~€190,000 | ~$222,000 | ~€315,000 | ~$369,000 | New-build sales — Landbank/DLS, 2025 |
Conversions at €1 = $1.17 (8 July 2026), rounded. Paphos and Famagusta house averages are skewed upward by luxury villa product. 2025 totals: 7,819 new-home contracts worth over €2.5 billion; apartments were 81.6% of transactions. Who's buying where (Q1 2026 contracts): Paphos is 75% foreign buyers, Larnaca roughly half (48%), Nicosia 84% local.
Affordability, roughly. Average gross earnings were €2,605/month in 2025 (CYSTAT, preliminary; median €1,968). A €200,000 Larnaca new-build apartment is about 6.4 years of gross average earnings; a €425,000 Limassol apartment about 13.6 — our illustration, not an official statistic. Housing-loan rates averaged 3.15% in March 2026 (CBC); non-resident non-EU buyers typically face tighter terms.
Where our numbers come from
The Central Bank of Cyprus RPPI is the preferred source: quarterly, valuation-based, split by houses/apartments and five districts, with transaction counts from the Department of Lands & Surveys — whose registry is also where every sales contract and title deed lives. CYSTAT covers earnings and building permits; Eurostat carries the harmonised Cyprus HPI; the RICS Cyprus index (with KPMG) is a semi-official valuation series.
For live listings, Bazaraki is the dominant portal — asking prices, no published index. Landbank Analytics publishes district sale-price and rent reports widely quoted in the Cypriot press.
Honesty note. Asking prices run above final sale prices everywhere; on top of that, Landbank's price figures are new-build only — the entry point for resale is materially lower — and its rent reports are averages of advertised rents, skewed upward by luxury listings (latest verified: apartments €1,803/month national average, January 2025; Limassol houses asked €5,099/month in July 2025 vs Larnaca €2,908). No 2026 rent report could be verified this pass. The CBC index, not any price level, is the reliable guide to market direction.
What to watch
Title deeds: the trap with a 50-year history. Tens of thousands of Cypriot buyers paid in full and never received title, because developers had mortgaged the land underneath. The 2015 "trapped buyers" fix was ruled unconstitutional in June 2024; the replacement — Law L.110(I)/2025, in force 4 July 2025 — lets eligible buyers apply again, but generally requires the consent of prior lenders or a court order, and protection is not automatic. The rule that follows: never buy without a title search at the Department of Lands & Surveys, and prefer resale property with clean, issued deeds.
The 5% VAT clock is ticking. New builds carry 19% VAT, reduced to 5% on the first 130 m² of a primary residence up to €350,000 in value (total price ≤€475,000, buildable area ≤190 m²). Transitional access to the older, more generous regime was extended to 31 December 2026 (Law 109(I)/2026) for qualifying cases where the planning permit was obtained or applied for before 1 November 2023; from 1 January 2027 only the 130 m²/€350,000 rules apply. Claiming the 5% rate commits you to using the home as your primary residence for 10 years.
Two-speed by type, not just by district. Apartments +10.8% vs houses +3.0% nationally; Limassol apartments are +53% since 2010 while Nicosia apartments are flat and Famagusta houses are below their 2010 level. If you're a house buyer, the boom headlines mostly aren't about your market.
Non-EU buyers need permission. Americans and Canadians buy under Cap. 109 with Council of Ministers approval — routine for a home, limited in practice to one residence (ministry practice since 2013 allows up to two properties), allow 2–6 months, and it can run in parallel with completion. Also note the CBC index is smoothed and lags turning points by a quarter or two; the Q2 2026 release lands around October.
Northern Cyprus: not covered, on purpose. Much of the property in the north is legally owned by Greek Cypriots displaced in 1974. Buying, selling or renting it without the registered owner's consent is a criminal offence in the Republic of Cyprus, and Republic court judgments are enforceable across the EU and the UK. We cover the Republic of Cyprus only.