Deceleration In Cyprus Residential Property Price Index

The Central Bank of Cyprus (CBC) recently reported a deceleration in the Residential Property Price Index (RPPI) for Q1 2024. This trend highlights a noteworthy shift in the property market, attributed to a normalisation in demand coupled with increased supply and elevated interest rates. Such factors are pivotal in understanding the dynamics of the current real estate landscape in Cyprus.

Quarterly and Annual Trends

The RPPI, which tracks changes in property prices across flats and houses, increased by 1.6% in Q1 2024, following a 2.3% rise in the previous quarter. Specifically, house prices rose by 0.8%, while flat prices surged by 3.4%. On an annual basis, the RPPI saw a 7.8% increase compared to Q1 2023, with flat prices up by 13.9% and house prices by 4.7%.

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District-Specific Changes

The deceleration was not uniform across Cyprus. Pafos and Famagusta districts experienced accelerated house price increases of 3.1% and 4.4% quarterly, and 11.2% and 11.8% annually, respectively. In contrast, Nicosia, Limassol, and Larnaca saw slower quarterly growth of 0.2%, 1.5%, and 2.2%, respectively, with annual increases of 4%, 9.2%, and 10.7%.

Flat prices exhibited a similar pattern. Quarterly, Nicosia recorded a 0.8% rise, Limassol 3.7%, Larnaca 4.3%, Pafos 3.5%, and Famagusta 10.7%. Annually, Limassol, Larnaca, and Famagusta showed significant increases of 16.5%, 18.1%, and 16.5%, while Nicosia and Pafos noted more moderate rises of 5.1% and 21.4%.

Economic Implications

This deceleration signals a potential shift towards a more balanced market. The combination of stabilised demand, increased supply, and the high cost of borrowing due to rising interest rates are crucial factors. Additionally, the minor reduction in construction material costs, despite remaining high, impacts overall market dynamics.

Looking Ahead

The CBC’s caution about future deceleration reflects broader economic concerns. As interest rates continue to rise, the affordability of mortgages may further influence demand. Additionally, the construction sector’s response to material costs will be critical in shaping future supply levels.

The Future Forbes Realty Global Properties

bbf: Presents :eden coast — The Art Of Living By The Mediterranean

by News Editor

July 3, 2026

Some destinations are remembered for where they are. Others for how they make us feel.

Life by the Mediterranean has a quality of its own. Defined by light, open horizons and a slower pace, it encourages a way of living where time is measured less by the clock and more by the moments that matter. It is this philosophy that inspired :eden coast.

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With the unveiling of :eden coast, bbf: introduces an exceptional collection of beachfront villas in Geroskipou, Paphos, where architecture is conceived as a natural extension of its surroundings. Every residence has been designed to honour the coastline, allowing the sea, the light and the changing seasons to become the defining elements of everyday life.

At :eden coast, luxury reveals itself with quiet confidence so nothing feels excessive. It is expressed in generous space, carefully composed proportions, enduring materials and an effortless relationship between interior and exterior. Expansive glazing welcomes the Mediterranean sky indoors, while private gardens, terraces and pools encourage a life lived as much outside as within.

Few locations offer such a natural balance between tranquillity and connectivity. Set along a quieter stretch of Paphos’ coastline, :eden coast enjoys the rare privilege of beachfront living away from the crowds, where the landscape remains unspoilt and the rhythm of the Mediterranean shapes every day. Yet the cultural richness of Paphos, its vibrant dining scene, international airport and every modern convenience are all within easy reach, allowing residents to retreat into complete serenity without ever feeling removed from the world around them.

Beyond the residences, a carefully curated collection of wellness and leisure experiences extends this philosophy. Landscaped gardens, elegant swimming pools, spaces dedicated to movement and wellbeing, and thoughtfully designed communal areas encourage a slower, richer way of living. They are not amenities in the conventional sense; they are an expression of a lifestyle shaped by balance, privacy and quiet sophistication.

“Our ambition was never simply to create beautiful residences. It was to create a place where architecture, landscape and everyday life exist in complete harmony—a place that feels as though it has always belonged to the coastline,”
says Artem Burtsev at bbf:.

In a world that rarely slows down, :eden coast offers something increasingly rare: the freedom to live at a different pace. Here, mornings begin with the sea, nature sets the rhythm of the day, and the energy of Paphos is always within easy reach. It is a place where tranquillity and connectivity exist in perfect balance, allowing residents to experience the Mediterranean not as a destination, but as a way of life.

For more information:
edencoast.cy
+357 26 962 365

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