The Cyprus high-end property market demonstrated a significant and encouraging rebound in February 2025, with the aggregate value of the top 50 transactions across the island reaching an impressive €64.8 million. This resurgence, detailed in a comprehensive report released on Monday by Ask Wire, a prominent Cypriot real estate data analytics firm, signifies a strong recovery following earlier market fluctuations. The data unequivocally points to Limassol as the primary engine of this growth, solidifying its position as a magnet for high-value property investments.
An in-depth analysis of the top-tier transactions reveals the extent of Limassol’s dominance. The ten most expensive property sales alone accounted for a substantial €36.75 million, with an overwhelming eight of these prime deals situated in Limassol. These Limassol-based transactions collectively amounted to €26.55 million, underscoring the city’s continued allure for both institutional and international investors seeking premium real estate opportunities.
The remaining two high-value transactions within the top ten were recorded in the Paphos district, contributing a combined €10.2 million to the overall figure. Notably, the single highest-value transaction for the month was the €9.4 million sale of a significant land parcel in the Tserkezoi area of Limassol. This was closely followed by a €7.6 million sale of a mixed-use property in the Kato Paphos area and a €3.7 million transaction involving an apartment building in the Potamos Germasogeias area of Limassol, further illustrating the diversity of high-end property changing hands.
Other noteworthy transactions within the top 50 included a €2.6 million house in the Kouklia area of Paphos, two significant land sales in the Agios Athanasios – Agios Stylianos community of Limassol valued at €2.55 million and €2.5 million respectively, and a €2.3 million house in the Germasogeia – Agia Paraskevi area of Limassol. Additionally, two more land parcels in Limassol, located in Kato Polemidia – Archangel Michael and Agios Athanasios – Agios Stylianos, were sold for €2.3 million and €2.1 million, respectively. Rounding out the top ten was a €1.7 million house in the Potamos Germasogeias area of Limassol, further emphasizing the concentration of high-value residential transactions in this prime location.
Pavlos Loizou, CEO of Ask Wire (Credit: Ask Wire)
Pavlos Loizou, CEO of Ask Wire, commented, “February marked a strong rebound in Cyprus’ high-end property market, more than doubling January’s figures.”
Residential Sector Remains the Cornerstone of High-Value Transactions
Despite the prominence of the top land transaction in Limassol, Ask Wire’s detailed analysis reveals that the residential sector continues to be the bedrock of Cyprus’ high-value property market. Impressively, over 60% of the 50 largest transactions involved residential properties, encompassing both luxurious houses and high-end apartments. This trend underscores the sustained and robust demand for move-in-ready properties and income-generating assets within the Cypriot luxury market, indicating a preference for tangible living spaces over land holdings, although strategic land acquisitions remain a significant part of the market.
Regional Disparities Highlight Untapped Potential and Investment Opportunities
The geographical distribution of the top 50 transactions further illuminates the current dynamics of the high-end market. Limassol accounted for a significant €29.2 million, representing 45% of the national total value. Paphos followed with a substantial €18 million, capturing 27.7% of the market share. Nicosia ranked third with €7.8 million (12%), closely trailed by Larnaca, which recorded €7 million (10.8%). Famagusta lagged behind with €2.9 million, accounting for a modest 4.5% of the total value.
The highest-value transaction in each district mirrors this broader trend of concentration. In Limassol, the €9.4 million field sale constituted a significant 32.2% of the district’s total value. In Paphos, the €7.6 million mixed-use property represented an even larger 42.2% of the district’s total. In contrast, the top deals in other districts were considerably lower in value: a €1.45 million house in Nicosia (18.5% of its total), a €1.15 million field in Larnaca (16.4%), and a €500,000 house in Famagusta (17.2%).
These figures highlight a clear regional polarization in high-end property activity, suggesting potential opportunities for strategic development and targeted investment in regions like Famagusta and Larnaca, which currently offer more competitive pricing despite their underrepresentation in the top-tier transactions.
