Properties for Sale in Cyprus

Cyprus is an EU member with an attractive tax regime (e.g. corporate tax 12.5%), a large network of double tax treaties, and a common-law legal system. Real estate and construction contributed 16% of GVA in 2023. In 2024, total transaction value reached €5.7bn with residential demand driving 67% of the market. Sovereign credit ratings have been upgraded to investment grade with a positive outlook, reflecting improved fiscal stability and reduced banking risks.

In 2024, 23,900 transactions were recorded (a 3% drop compared to 2023) with a total value of €5.71bn (1% growth). Limassol made up the majority of transaction value at 44%, followed by Nicosia and Paphos at 18% each, and Larnaca at 16%. In terms of volume, Limassol led with 29%, then Nicosia (27%) and Larnaca (21%). Residential assets represented 67% of total transaction value.

Limassol leads in both volume (29%) and value (44%) of transactions. Nicosia follows with 27% of volume and 18% of value; Larnaca 21% volume and 16% value; Paphos 18% of value. For foreign buyers, Paphos and Limassol made up the majority of acquisitions in 2024 (32% and 29% respectively). Limassol led apartment transaction values in 2023, reaching €1.8bn and 3,053 units.

Residential property index prices maintained a stable upward trend in 2024 with around 7% year-on-year increase (data to Q3). The high-end segment (single residential properties ≥€1.5m) improved marginally: 188 transactions were recorded in 2024 with total values reaching €550m, a 4% year-on-year increase. New building permits issued in 2024 saw a 2% increase in value terms.

The Cyprus real estate market has shown resilience and flexibility, maintaining record-high transaction values. The economy continues to outperform the Eurozone average with sovereign rating upgrades. Lending improved: new mortgage facilities increased 7% in 2024 versus 2023. Tourism, real estate and ICT remain key growth drivers. Sweet Home can help you explore carefully selected properties and provide expert guidance for buying or investing in Cyprus.