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Cyprus Housing Market Gains Momentum in Q1 2025: Robust Growth Across Districts

by THEFUTURE.TEAM

June 5, 2025

Robust Start Reflects Growing Investor Confidence

The Q1 2025 data released by Landbank Analytics underscores significant advancements in Cyprus’ residential property market. With a 24.8 percent year-on-year rise in contracts, off-plan and under-construction homes are experiencing surging demand. The sector recorded 1,368 contracts for new apartments and houses, setting a strong precedent for the rest of the year.

Dynamic Shifts in Transaction Volume and Value

The market witnessed a pronounced upswing in total transaction value, which climbed to €391 million from €299 million in the corresponding period of 2024. Apartment transactions, accounting for 1,109 units, registered a 22.7 percent increase and generated €272 million, marking a 23.1 percent year-on-year boost. Notably, house sales outpaced these gains with volume increasing by 34.9 percent to 259 units and transaction value soaring 52.6 percent to €119 million.

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District-Level Insights: Larnaca and Limassol in Focus

Regional performance varied markedly. In Nicosia, apartment sales reached 376 units – a 17.5 percent increase – with transaction value rising 18 percent to €72 million. Meanwhile, Limassol maintained its lead in value terms, with apartment sales climbing by 5.8 percent to 311 units, and their value surged 19.6 percent to €116 million, representing 42 percent of the national apartment market’s value. Conversely, Larnaca emerged as an outlier; apartment sales surged by 66.3 percent to 321 units, and house sales increased by 77.1 percent to 62 units, with respective transaction values appreciating substantially.

Emerging Trends Across Paphos And Famagusta

Paphos demonstrated robust momentum, particularly in the house segment, where sales increased by 58.1 percent to 68 units. The district saw its apartment values rise by 20 percent year-on-year to €24 million, while house transaction value jumped 88 percent to €47 million, broadening its share of national house sales. Conversely, Famagusta exhibited divergent behavior with apartment sales halving to 17 units, resulting in a 57.1 percent decline in value to €3 million. In contrast, house sales in the region grew 61.5 percent, both in volume and rising by 50 percent in value to €6 million.

Expert Analysis and Future Outlook

Landbank Group CEO Andreas Christophorides highlighted the market’s resilience, attributing the uptick partly to the easing of interest rates. He emphasized that while apartment sales have risen nearly 23 percent in both terms of volume and value, the remarkable surge in new house transactions is a key indicator of shifting dynamics across districts. Christophorides pointed to Larnaca as a burgeoning hub, demonstrating dramatic increases in both unit sales and transaction value. He also noted that Nicosia continues to appeal to investors targeting centrally located properties, and Limassol consistently upholds its reputation as a premium investment destination. In Paphos, the momentum in high-value house sales is largely driven by foreign buyers, further substantiating the region’s burgeoning appeal.

In Famagusta, a notable shift from apartments to houses may suggest an evolving consumer preference, potentially influenced by the district’s strong tourism profile. Overall, the resilience and growth observed in Q1 2025 signal an optimistic outlook for Cyprus’ residential property market as investor interest and regional dynamics continue to evolve.

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Cyprus Emerges As A Leading Household Consumer In The European Union

by THEFUTURE.TEAM

June 30, 2025

Overview Of Eurostat Findings

A recent Eurostat survey, which adjusts real consumption per capita using purchasing power standards (PPS), has positioned Cyprus among the highest household consumers in the European Union. In 2024, Cyprus recorded a per capita expenditure of 21,879 PPS, a figure that underscores the country’s robust material well-being relative to other member states.

Comparative Consumption Analysis

Luxembourg claimed the top spot with an impressive 28,731 PPS per inhabitant. Trailing closely were Ireland (23,534 PPS), Belgium (23,437 PPS), Germany (23,333 PPS), Austria (23,094 PPS), the Netherlands (22,805 PPS), Denmark (22,078 PPS), and Italy (21,986 PPS), with Cyprus rounding out this elite group at 21,879 PPS. These figures not only highlight the high expenditure across these nations but also reflect differences in purchasing power and living standards across the region.

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Contrasting Trends In Household Spending

The survey also shed light on countries with lower household spending levels. Hungary and Bulgaria reported the smallest average expenditures, at 14,621 PPS and 15,025 PPS respectively. Meanwhile, Greece and Portugal recorded 18,752 PPS and 19,328 PPS, respectively. Noteworthy figures from France (20,462 PPS), Finland (20,158 PPS), Lithuania (19,261 PPS), Malta (19,622 PPS), Slovenia (18,269 PPS), Slovakia (17,233 PPS), Latvia (16,461 PPS), Estonia (16,209 PPS), and the Czech Republic (16,757 PPS) further illustrate the disparate economic landscapes within the EU. Spain’s figure, however, was an outlier at 10,899 PPS, suggesting the need for further data clarification.

Growth Trends And Economic Implications

Eurostat’s longitudinal analysis from 2019 to 2024 revealed that Croatia, Bulgaria, and Romania experienced the fastest annual increases in real consumer spending, each growing by at least 3.8%. In contrast, five member states, with the Czech Republic experiencing the largest drop at an average annual decline of 1.3%, indicate a varied economic recovery narrative across the continent.

This comprehensive survey not only provides valuable insights into current household consumption patterns but also offers a robust framework for policymakers and business leaders to understand economic shifts across the EU. Such data is integral for strategic decision-making in markets that are increasingly defined by evolving consumer behavior and regional economic resilience.