️📉How did the Cyprus Real Estate market perform in 2024?

Find out the latest trends and figures – download the report now!

🔍We analyzed the entire residential real estate market in our Q4 2024 Insights report. We define premium real estate — these are apartments from €200.000 and houses from €500.000, as the mid-to-high price segments, which continue to drive the market.

📍After two years of booming sales due to geopolitical events and migration, the market slowed down. Over the year, sales of premium houses dropped by nearly 20%, while premium apartments saw an 11.5% decline. The sharpest decrease was in Paphos, where house sales fell by 32.6% and apartment sales by 27.3%.

💰What about prices? On average, house prices in Cyprus decreased by 2%, while apartment prices remained almost unchanged (-0.4%). However, the premium segment remains resilient: luxury houses increased in price by 1.7%, while apartments maintained their value.

〽️What’s next? Prices are stabilizing, but high interest rates will continue to limit demand. However, tax incentives and infrastructure projects are supporting the market.
👍 Conclusion? Cyprus will remain attractive for investors in 2025.
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[MellicentCaresse]

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