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Cyprus President And Turkish Cypriot Leader Explore New Crossing Points In Key Meeting

On Monday, President Nikos Christodoulides and Turkish Cypriot leader Ersin Tatar will meet at the residence of the UN Secretary General’s Special Representative in Cyprus, Colin Stewart, located in the UN Protected Area at Nicosia airport. The two leaders will discuss the potential opening of new crossing points across the divided island.

This meeting follows an October 15, 2024 agreement made during an informal dinner hosted by UN Secretary-General Antonio Guterres in New York. The leaders had expressed a shared interest in exploring ways to increase movement between the north and south of Cyprus.

The Greek Cypriot side has already proposed the opening of crossing points at Pyroi and Kokkina, which were submitted during prior meetings of the negotiators with Stewart. Meanwhile, the Turkish Cypriot side has raised the possibility of opening a regular crossing point at Mia Milia.

In his recent report to the UN Security Council on the renewal of the UNFICYP mandate, Guterres welcomed the commitments made by both Cypriot leaders to consider the opening of additional crossing points. “We are approaching the meeting with a constructive attitude and a commitment to progress,” stated the Government Spokesman to the Cypriot News Agency (CNA) on Sunday. He noted that the groundwork had been laid with specific proposals and positions, and expressed hope that these would be discussed with the same positive and sincere spirit.

In the lead-up to the meeting, residents of the Paphos district gathered on Saturday in Pachyammos, advocating for the opening of a crossing point at Kokkina. On Friday, joint events were held by Greek Cypriot and Turkish Cypriot organizations at the Ayios Dometios checkpoint, calling for the establishment of new crossing points.

Cyprus has been divided since 1974 when Turkey invaded and occupied the island’s northern third. Despite several rounds of UN-led peace talks, a comprehensive settlement has yet to be reached, with the latest negotiations held at the Crans-Montana resort in Switzerland in July 2017 ending without progress.

The informal meeting in New York in October saw both leaders agree to continue dialogue under the UN Secretary-General’s auspices, focusing on the way forward and the opening of new crossing points to foster trust and facilitate movement across the island.

Cyprus Residential Market Surpasses €2.5 Billion In 2025 With Apartments Leading the Way

Market Overview

In 2025, Cyprus’ newly built residential property market achieved a remarkable milestone, exceeding €2.5 billion. Data from Landbank Analytics indicates robust activity countrywide, with newly filed contracts reaching 7,819, including off-plan developments. This solid performance underscores the market’s resilience and dynamism across all districts.

Transaction Breakdown

The apartment sector clearly dominated the market, constituting 81.6% of transactions with 6,382 deals valued at €1.77 billion. In contrast, house sales represented a smaller segment, encompassing 1,437 transactions and generating €737.9 million. The record-high transaction was noted in Limassol, where an apartment sold for approximately €15.2 million, while the priciest house fetched roughly €6.2 million.

Regional Analysis

Nicosia: The capital recorded steady domestic demand with 2,171 new residential transactions. Apartments accounted for 1,836 deals generating €349.6 million, compared to 335 house transactions worth €105.5 million, anchoring Nicosia as a core market with average values of €190,000 for apartments and €315,000 for houses.

Limassol: As the island’s principal investment center, Limassol led overall activity with 2,207 transactions. Apartments dominated with 1,936 sales generating €824.1 million, while 271 house transactions added €157.9 million. The district enjoyed premium pricing, with apartments averaging over €425,000 and houses around €583,000.

Larnaca: This district maintained robust activity with a total of 2,020 transactions. The apartment segment realized 1,770 transactions worth €353 million, and houses contributed 250 deals valued at €96.3 million. Average prices hovered near €200,000 for apartments and €385,000 for houses, positioning Larnaca within the mid-market bracket.

Paphos: With a more balanced mix, Paphos completed 1,078 transactions. Ranking second in overall value at €503.2 million, the district saw house sales generate €287.8 million and apartments €215.4 million. Consequently, Paphos achieved the highest average house price at approximately €710,000 and an apartment average of €320,000, emphasizing its premium housing profile.

Famagusta: Distinguished by lower transaction volumes, Famagusta was the sole district where house sales outnumbered apartment deals. Out of 343 transactions, 176 involved houses (yielding €90.4 million) and 167 were apartments (at €32.4 million). The segment’s average prices were about €194,000 for apartments and over €513,000 for houses, signaling its focus on holiday residences and coastal developments.

Sector Insights and Forward View

Commenting on the report, Landbank Group CEO Andreas Christophorides remarked that the analysis demonstrates an ecosystem where apartments are the cornerstone of the real estate market. He emphasized, “The apartment sector is not merely a trend; it is the engine powering the country’s real estate market.” Christophorides also highlighted the diverse regional dynamics: Limassol leads in apartment pricing, Paphos commands premium house prices, Nicosia remains pivotal to domestic demand, Larnaca sustains competitive activity, and Famagusta caters to holiday home buyers.

In a market characterized by these varied profiles, informed monitoring of regional and sector-specific dynamics is crucial for investors aiming to make targeted and strategic decisions.

Uol
Aretilaw firm
eCredo
The Future Forbes Realty Global Properties

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