Cyprus recorded €606.4 million in sales in the third quarter, as Limassol led by value and Paphos gained ground.
Cyprus’ new-home market posted gains on two fronts in the third quarter, with both sales and their combined value rising, according to an analysis by Landbank Analytics.
The market picked up pace with 1,956 sales of houses and apartments under construction or still at the planning stage, worth a total of €606.4 million. Compared with the previous quarter, transactions rose by 48.5%, while their combined value increased by 51.6%.
Despite the increase in activity, most sales still involved properties priced below €300,000.
The figures show Limassol returning firmly to the spotlight for higher-priced new properties, while Paphos continues to strengthen its position. Homes priced below €300,000 nevertheless accounted for the lion’s share of sales: 1,267 transactions, or 64.8% of the third-quarter total.
At the premium end of the market, Germasogeia, Agios Tychonas, and Peyia stand out as leading choices for investors buying expensive new properties.
Commenting on the findings, Landbank Group CEO Andreas Christoforides said the significance lay not simply in the rise in recorded off-plan transactions but above all in how those sales were distributed.
Limassol increased its share of the total value of transactions, he said, while Paphos gained ground in sales numbers. Nicosia continued to have a substantial presence in new developments, despite its declining market share.
With almost two in three sales involving properties below €300,000, choosing the right location, property type and price bracket is crucial to how readily a development sells, Christoforides stressed. The market cannot be assessed as a single, uniform whole, or judged solely by average transaction values or total sales.
How the market is changing
Cyprus’ new-home market recorded a substantial increase in activity in the third quarter of 2026, alongside shifts in the distribution of sales across districts and price brackets.
Landbank Analytics’ latest comparative analysis, covering July 1 through Sept. 30, 2026, recorded 1,956 sales of houses and apartments under construction or at the planning stage, worth €606.4 million.
That compares with 1,317 sales contracts worth €400.1 million in the previous quarter—an increase of 48.5% in transactions and 51.6% in their combined value. The average value per contract rose by 2%, from €303,808 to €310,019.
Despite the stronger activity, Landbank said most transactions continued to involve properties priced below €300,000. This category accounted for 1,267 sales, or 64.8% of the total, compared with 68.1% in the previous quarter. Although its share fell by 3.3 percentage points, it still represented almost two in three recorded sales.
The largest individual price bracket was €200,000 to €299,999, with 545 transactions, or 27.9% of the market. Properties priced between €300,000 and €499,999 followed with 521 sales and a 26.6% share.
There were 418 transactions in the €150,000–€199,999 bracket, accounting for 21.4% of sales, while properties below €150,000 recorded 304 transactions, or 15.5%.
The €300,000–€499,999 bracket notably increased its share from 23.1% to 26.6%. By contrast, the share of properties priced between €150,000 and €199,999 fell from 24.8% to 21.4%.
Limassol holds the lead
Limassol emerged as a major driver of the third-quarter market, recording 599 sales contracts worth €245.3 million. Its share of transactions rose from 26.3% to 30.6%, while its share of total sales value climbed from 32.4% to 40.5%.
Paphos also gained ground, increasing its share of transactions from 12.8% to 17%. Its share of sales value reached 22%, up from 21.2% in the second quarter.
Nicosia, by contrast, saw its share of transactions fall from 34.5% to 25%, although it recorded 489 sales. Larnaca held steady at 24% of transactions, while Famagusta accounted for 3.4%.
At the local level, Limassol city retained first place with 190 recorded sales, up 47.3% from 129 in the second quarter. Larnaca city followed with 124 transactions, an increase of 74.6% from 71 in the previous quarter.
Lakatamia recorded 111 sales, up from 92, while Aradippou registered 109, down from 122. Paphos city recorded 96 transactions, followed by Strovolos with 90, Livadia with 79 and Germasogeia with 73.
Growth was particularly strong in Germasogeia, where transactions rose by 69.8%, from 43 to 73. Strovolos recorded an increase of 26.8%, while sales in Paphos city rose by 21.5%.
Aradippou bucked the trend, with transactions falling by 10.7%, although it remained among the areas with the highest sales numbers.
The premium market
Germasogeia and Agios Tychonas stood out at the higher end of the market for the prices recorded in their transactions.
Germasogeia registered 73 sales contracts worth €44.8 million, with an average transaction value of €613,991 and a median of €383,762. The 69.8% increase in transactions compared with the second quarter underscored the area’s growing activity.
Agios Tychonas recorded 16 transactions worth €18.1 million. The median value was €647,123, while the average reached €1,129,796.
Peyia registered 34 sales worth €16.1 million, with a median value of €398,000.
In Paphos city, the median transaction value was €316,250, and the average was €407,912. In Limassol city, the corresponding figures were €292,500 and €357,042.
