Newsroom
Larnaca is quickly becoming one of Cyprus’ hottest property markets, with demand and prices for newly built homes climbing sharply in early 2025.
According to data from Landbank Analytics, Larnaca saw the second-highest increase in average sale prices for new houses in the first quarter of the year. Prices jumped by over 21% year-on-year, rising to €389,000 from €320,000. Sales activity in the city also picked up, reflecting growing interest from both local and foreign buyers.
Nationwide, the value of new home sales, houses and apartments, soared to €391 million in Q1 2025, up from €299 million during the same period last year. That’s a 53% jump in value and a nearly 35% increase in the number of sales.
“Demand is being driven by changing conditions in both the local and global environment,” said Andreas Christoforides, CEO of the Landbank Group. “We're seeing a shift in buyer behavior and investor appetite.”
Nicosia recorded the biggest spike in average house prices, up 35.5% year-on-year, with newly built homes now averaging €412,000. In contrast, Limassol saw a dip in average house prices, though analysts attribute that drop largely to a few low-cost transactions. Apartment prices in Limassol, however, rose 12.4%, showing continued interest in the city’s high-density housing options.
Paphos remains a strong draw for foreign buyers, particularly in the luxury segment, while Nicosia continues to appeal to both private buyers and investors.
Across the island, the average value of new homes has climbed to €459,000, a 12% increase, while apartment prices have stayed relatively flat at €247,000.
Experts say the current trends reflect a broader transition in the market, with investors turning their attention to regions offering high value and growth potential, Larnaca chief among them.
