Real estate in Cyprus: market trends and prices
Updated:
Cyprus property prices rose 8.5% in the year to the second quarter of 2026, and buyers from abroad signed about two in five sales contracts. This page sets out the market figures and prices by district, with the costs of buying and selling a home.
It covers the Republic of Cyprus. Property in the areas outside government control sits under a separate registration system, and none of the rules below apply to it.
Contents ˅
The Cyprus property market in 2026
Prices and sales both rose through the first half of 2026. The figures below are the latest published, from the Central Bank of Cyprus and the Department of Lands and Surveys.
- The Central Bank's Residential Property Price Index rose 8.5% in the year to the second quarter of 2026, after 7.1% in the year to the end of 2025. Apartment prices rose 8.9% and house prices 5.8%.
- The District Lands Offices received 5,298 sales contracts in the second quarter of 2026, 15.4% more than a year earlier. From January to August 2026 they received 13,288, up 14%.
- Buyers from abroad signed 2,107 of those 5,298 contracts, about two in five, and their number rose 22.7% in a year. The Central Bank names foreign buyers as the main source of the rise in demand.
- More homes are coming. Building permits were approved for 8,978 homes from January to May 2026, against 5,484 a year earlier, and construction material prices were 2.4% higher than a year before.
- New housing loans came to €403.6 million in the second quarter of 2026, 14.2% more than a year earlier. The weighted average rate on housing loans was 3.23% in June 2026.
- Apartments let at a gross yield of about 5.5% and houses at about 3%, according to the RICS Cyprus Property Index with KPMG for the second quarter of 2026.
Prices have not always gone up. The Central Bank's index peaked in the third quarter of 2008 and fell 32% to its low in 2016. It passed the 2008 peak only in the second quarter of 2026. Our page on property investment in Cyprus covers rental returns and how rent is taxed.
Property prices in Cyprus by district
In October 2026 the median asking price of an apartment listed on DevelopersCyprus was €469,900, or €3,960 per m². For a villa it was €850,000, or €3,730 per m². These are asking prices on one listing platform, not completed sales, and the table below breaks them down by district.
| District | Price change, year to Q2 2026 | Sales contracts, Q2 2026 | Signed by buyers from abroad | Median asking price of an apartment, October 2026 |
|---|---|---|---|---|
| Limassol | 7.8% | 1,765 | 34% | €595,000 |
| Paphos | 9.6% | 1,073 | 66% | €385,000 |
| Nicosia | 5.7% | 1,076 | 16% | €339,000 |
| Larnaca | 9.8% | 1,169 | 44% | €300,000 |
| Famagusta | 10.0% | 215 | 52% | €300,000 |
Sources: Central Bank of Cyprus, Residential Property Price Index 2026Q2, for price changes, contracts and buyers; DevelopersCyprus for asking prices.
Limassol has the highest asking prices and the most sales. Prices rose fastest in Famagusta and Larnaca, by about 10% in a year, and slowest in Nicosia, where more than four in five buyers were local. Paphos is the one district where buyers from abroad signed most of the contracts.
Buying property in Cyprus: permission and costs
Citizens of the EU and the EEA buy property in Cyprus on the same terms as Cypriots. Other buyers, UK and US citizens included, need permission from the District Administration on form COMM 145, filed after the contract is signed. No fee is charged, and the Ministry of Interior puts the processing time at two to three weeks.
A new home bought from a developer carries VAT at 19%, or 5% on the first 130 m² and the first €350,000 of a main residence, where the whole purchase stays within 190 m² and €475,000. A resale home carries no VAT and pays a transfer fee instead, 1.5% to 4% by price band after the 50% reduction. On a €300,000 resale home the fee is €8,600, and the Department of Lands and Surveys has a calculator.
For contracts signed on or after January 1, 2026, no stamp duty is payable. For contracts signed before 2026, the correct duty is paid to the Tax Department before registration. Our legal fee for a purchase starts at €2,500 plus VAT. Our guide to buying property in Cyprus sets out every step and cost.
Buying property and residency
A buyer from outside the EU who spends at least €300,000 before VAT on a new home, bought on a first sale from a developer, can apply for a permanent residence permit, the permit known as the Cyprus golden visa. Commercial property qualifies too, resales included. The applicant needs a secured annual income of at least €50,000, measured gross, plus €15,000 for a spouse and €10,000 for each child. On the home route the income comes from abroad.
The permit has no end date, provided the holder visits Cyprus at least once every two years. Each year the holder shows that the investment is kept, with health insurance for a family outside GeSY, and every three years submits clean criminal records. The permit does not give visa-free travel to the Schengen area. Our page on Cyprus residency by investment covers the other routes and the documents.
Selling property in Cyprus
A seller pays capital gains tax at 20% on the gain from Cyprus property, resident or not. Lifetime exemptions reduce the taxable gain: €30,000 on a general disposal and €150,000 on a main home that meets the occupation conditions. An estate agent's commission is agreed with the agent.
Before the contract is signed, the seller attaches a Land Registry search certificate dated no more than five working days earlier. An owner who lets the property in the meantime pays income tax on 80% of the rent at the normal rates, plus the GeSY contribution of 2.65%. The special defence contribution on rent ended on January 1, 2026.
Running costs for owners
Cyprus abolished its annual immovable property tax in 2017. Owners pay a municipal tax set by the municipality on the value of the property, or a community charge outside municipal boundaries, and the rate varies by area.
Households paid about €0.28 per kWh for electricity in the second half of 2025, and the bill arrives every two months. Water is billed in tiers by the district's Local Government Organisation and comes to about €20 to €30 a month. Our guide to the cost of living in Cyprus has rents, bills and food prices by city.
Frequently asked questions
Are property prices in Cyprus still rising?
Yes, on the latest figures. The Central Bank of Cyprus index rose 8.5% in the year to the second quarter of 2026, faster than the 7.1% in the year to the end of 2025. By district the rise ran from 5.7% in Nicosia to 10.0% in Famagusta. Prices have fallen before: the index lost 32% between 2008 and 2016.
Which part of Cyprus has the most expensive property?
Limassol. In October 2026 the median asking price of an apartment listed on DevelopersCyprus was €595,000 there, against €385,000 in Paphos, €339,000 in Nicosia and €300,000 in Larnaca and Famagusta. These are asking prices, not completed sales.
How many foreigners buy property in Cyprus?
Buyers from abroad signed 2,107 of the 5,298 sales contracts in the second quarter of 2026, about two in five: 1,372 from outside the EU and 735 from EU countries. In Paphos they signed two contracts in three. Buyers from outside the EU and the EEA need permission to buy, on form COMM 145.
What is the average mortgage rate in Cyprus?
The Central Bank of Cyprus put the weighted average rate on housing loans, across all fixation periods, at 3.23% in June 2026. Each bank sets the rate it offers. The Central Bank caps a housing loan at 80% of the property's value for a main residence and at 70% for any other property.
How many times should you visit Cyprus when buying a property?
The law does not require a visit. A lawyer holding your power of attorney can sign the contract and register it at the District Lands Office for you. Some Cyprus banks open an account fully online and others ask for one branch visit. Most buyers still come at least once to see the property and the area before they sign.
What criteria should I use when selecting properties for purchase in Cyprus?
The criteria for selecting properties in Cyprus are twofold: general and Cyprus-specific. General criteria include location, budget, proximity to amenities, cost of living in the area, property's physical appeal, age, condition, and availability of parking and storage spaces. Cyprus-specific criteria include title due diligence, researching and visiting various locations, deciding on the property type, inspecting the property, and working with professional realtors and lawyers.
How much are utility bills in Cyprus?
Electricity for a one- or two-bedroom flat runs about €60 to €150 a month, with air conditioning driving the summer bill. Water costs about €20 to €30 a month and home broadband about €25 to €40. In September 2026 unleaded 95 averaged €1.67 a litre.
Why is it dangerous to buy a property in Northern Cyprus?
Much of the property in the north is claimed by owners displaced in 1974, so title there is disputed. UK government guidance warns that under the law of the Republic of Cyprus, buying, selling, renting, promoting or mortgaging such property without the owner's permission is a criminal offence carrying up to seven years in prison. Buyers can face proceedings in Cypriot courts, with judgments enforced elsewhere in the EU.