A total of 7,255 properties across Cyprus were purchased by foreign buyers in 2025, accounting for 28 percent of all property transactions, up from 6,228 properties in 2024, according to PwC’s annual report on the Cypriot real estate market.
The figures, published in the report ‘PwC Cyprus Real Estate Market – Year in Review 2025’, show that property purchases by non-Cypriots increased by 16 percent year on year. In 2024, foreign buyers accounted for about 25 percent of total property sales.
The coastal cities of Paphos, Larnaca and Limassol jointly contributed around 80 percent of the overall increase in foreign property purchases in 2025.
Nicosia and Famagusta recorded the highest growth rates, at 20 percent each, followed by Larnaca and Paphos, both at 17 percent, and Limassol at 13 percent.
Luxury property market
The luxury residential segment, covering properties valued at more than €1.5 million, remained relatively stable in 2025. The sector recorded 203 transactions with a total value of €550 million, representing 8 percent of the total value of the real estate market.
Limassol continued to dominate the high-end residential market, although its share declined from 76 percent in 2024 to 61 percent in 2025.
Record transaction levels in 2025
Cyprus’s real estate market reached record levels in 2025, both in terms of transaction volume and total value. The overall value of transactions rose to €6.5 billion, marking an annual increase of 8 percent, compared with €6.0 billion in 2024.
The total number of transactions increased by 4 percent year on year, reaching 25,600 from 24,700 in 2024.
All districts recorded a significant rise in transaction values in 2025, with the exception of Limassol, which posted a marginal decline. Despite this, Limassol maintained its leading position, accounting for 41 percent of the total value of property transactions.
Residential properties drive the market
Residential properties remained the main driver of the market, with total transaction values of €4.5 billion, representing 69 percent of the overall market.
Notably, the value of apartment transactions rose sharply, with apartments emerging as the key growth factor in 2025. They accounted for around 60 percent of the total increase in transaction values.
Commenting on the findings, Konstantinos Konstantinou, partner and head of PwC Cyprus’s real estate sector, said: “In an environment of rapid change, shaped by ongoing geopolitical developments whose impact on the sector remains uncertain, market participants must continuously reassess their priorities and align their investment decisions with the country’s future needs.”