Housing prices in Cyprus have nearly doubled over ten years

Over the past decade, property prices in Cyprus have risen at record rates. According to the Central Bank, the apartment price index reached 118.2 points in the second quarter of 2025 — an all-time high, surpassing the previous peak of 105.8 points recorded at the end of 2008.

The price growth has been uneven across regions. The most significant increase occurred in Limassol, where the apartment price index reached 143 points — nearly 93% higher than ten years ago. In Larnaca, prices rose by 101% (to 113.6 points), and in Paphos by 99% (to 114.9 points). Nicosia saw minimal growth, with the index at 97.4 points, 2% below the 2010 level.

Houses appreciated more slowly than apartments. The overall house price index reached 92.7 points, corresponding to a 24% increase over ten years. In Paphos, houses became 33% more expensive, while in Nicosia the increase was only 5.5%.

Experts attribute the rise to several factors: limited supply of new housing, rising incomes in certain sectors, and strong demand from foreign buyers. External circumstances also played a role — higher construction material costs and a shortage of building plots in coastal areas.

Analysts warn that such rapid price growth makes the market vulnerable to overheating. To stabilize the situation, experts call for increasing the supply of new housing and more active monitoring of price trends.