Cyprus New-Build Property Market Reaches €1.15B in H1 2026
Cyprus’ new-build residential property market recorded €1.149 billion in sales during the first half of 2026, with 3,594 newly built apartments and houses changing hands, according to data from Landbank Analytics.
The figures put the average transaction value at approximately €319,618, highlighting continued demand for newly developed residential properties across the island.
However, market activity varied significantly between districts. Nicosia recorded the highest number of transactions, while Limassol generated the largest overall sales value. Paphos, meanwhile, continued to stand out for its higher-priced new-build houses.
Apartments Continue to Lead the Market
Apartments remained the dominant segment of Cyprus’ new-build market, accounting for 82.8% of all transactions during H1 2026.
A total of 2,977 apartments were sold for a combined €810.6 million. Houses accounted for 617 transactions, with total sales reaching €338.1 million.
Although houses represented only 17.2% of transactions, they generated 29.4% of the total sales value, reflecting their significantly higher average prices.
The market remained largely concentrated in the affordable and mid-market segments. Around 2,982 properties — approximately 83% of all transactions — were sold for less than €400,000.
At the upper end of the market, 103 properties, or 2.9% of total transactions, were sold for more than €1 million.
Limassol Leads in Sales Value
Nicosia recorded 1,063 transactions worth €232.9 million. Lakatamia, Strovolos and Latsia were among the most active areas.
Limassol recorded 1,050 transactions, placing it just behind Nicosia in terms of volume. However, the district clearly led the country in total sales value, reaching €435 million. The strongest activity was concentrated in Limassol municipality, Agios Athanasios and Germasogeia.
Larnaca registered 883 transactions with a combined value of €187.6 million. Apartments accounted for approximately 90% of sales, with Aradippou, Larnaca municipality and Livadia recording the highest levels of activity.
Paphos recorded 497 transactions worth €258.2 million. Despite having fewer transactions than the other major districts, Paphos recorded the highest median property price in Cyprus at €360,000.
The difference was even more pronounced in the house segment. The median price of a new-build house in Paphos reached €570,000, highlighting the district’s strong position in the higher-end residential market.
Famagusta recorded 101 transactions worth €35 million, with Paralimni accounting for the largest share of activity.
Cyprus’ New-Build Market Shows Increasingly Diverse Demand
The latest figures suggest that Cyprus’ new-build property market is developing at different speeds across the island.
According to Andreas Christoforides, Chief Executive of Landbank Group, Nicosia and Larnaca continue to be driven largely by demand for affordable and mid-market apartments.
Limassol remains the country’s leading district in terms of total property sales value, supported by strong demand for higher-value residential developments.
Paphos, meanwhile, is increasingly distinguished by demand for higher-specification houses, with the district recording the highest median price for new-build houses in the country.
The concentration of transactions below €400,000 is also significant. With around 83% of new-build properties sold within this price range during H1 2026, the data indicates that the market continues to be supported not only by investment demand but also by genuine residential housing needs.
Overall, the first-half figures point to a Cyprus new-build market that remains active, while also becoming increasingly segmented by location, property type and price point.