Cyprus’ luxury real estate sector saw a strong resurgence in February 2025, recording €64.8 million in the 50 highest-value transactions across the island, according to analytics firm Ask Wire. The figures more than doubled January’s total, reflecting renewed confidence in the upper tier of the property market.
Limassol Dominates Transaction Volume and Value
Limassol emerged as the clear leader, accounting for eight of the top ten deals and a total of €29.2 million in high-end sales—45 percent of the national total. Paphos followed with €18 million (27.7 percent), driven by a smaller number of large-ticket transactions.
The largest deal of the month was the €9.4 million sale of a field in the Tserkezoi area of Limassol. Other headline transactions included:
- €7.6 million for a mixed-use property in Kato Paphos
- €3.7 million for an apartment building in Potamos Germasogeias, Limassol
- €2.6 million for a house in Kouklia, Paphos
- €2.55 million and €2.5 million for fields in Agios Athanasios, Limassol
- €2.3 million for a house in Germasogeia – Agia Paraskevi
- €2.3 million and €2.1 million for fields in Kato Polemidia and Agios Athanasios respectively
- €1.7 million for a house in Potamos Germasogeias
Regional Gaps Persist Despite Market Upswing
While Limassol and Paphos captured the majority of high-end activity, other districts showed relatively modest volumes. Nicosia logged €7.8 million (12 percent), Larnaca €7 million (10.8 percent), and Famagusta €2.9 million (4.5 percent).
Top sales by region included:
- A €1.45 million house in Nicosia (18.5 percent of district total)
- A €1.15 million field in Larnaca (16.4 percent)
- A €500,000 house in Famagusta (17.2 percent)
Ask Wire CEO Pavlos Loizou pointed to a growing geographic disparity. “While Limassol and Paphos captured nearly 73 percent of the market’s top value, districts like Famagusta and Larnaca remain underrepresented despite offering competitive pricing,” he said. “This signals a clear gap—and potential opportunity—for regional development and investor reallocation.”
Residential Assets Still Lead High-Value Demand
Despite the top-ranked transaction involving land, residential property continues to dominate the luxury segment. “More than 60 percent of the top 50 transactions involved residential assets—either houses or apartments,” Loizou noted. “This underscores sustained demand for ready-to-occupy or income-generating properties over speculative land holdings.”
Strategic Implications for Investors
February’s data suggests a market recalibrating toward fundamentals, particularly in premium districts. “February marked a strong rebound for Cyprus’ high-end market,” said Loizou, “driven largely by Limassol’s persistent appeal to institutional and international buyers.”
He concluded: “These insights underline why serious investors are relying more than ever on data-driven intelligence—not just to determine what to buy, but where, when, and why.”
PMI Insight
February’s performance highlights a market regaining its footing, with clear signals of confidence in Cyprus’ most established luxury zones. However, the regional concentration also reveals untapped potential for value-seeking investors willing to look beyond the traditional hotspots. Residential remains the asset class to watch, especially as global demand for tangible, yield-bearing property assets continues to grow.