Unveiling the Paphos Marina: A Landmark Multimillion-Euro Development

by News Editor

February 24, 2025

The long-awaited construction of the Paphos Marina is finally stepping into reality, set to transform Cyprus’s coastline with a blend of residential, commercial, and maritime excellence.The Ministry of Tourism is poised to initiate the tendering phase, inviting bids for this ambitious project on April 2, 2025, as announced in their official Brief report.

Strategically designed to include a full-scale Design, Build, Finance, Operate, and Transfer concession, the marina will host 1,000 vessels, with 650 sea berths and 350 on land for maintenance and storage. Located in Kissonerga, this expansive 155,000 square-meter facility will not only boost Cyprus’s maritime sector but also open official entry pathways to the country.

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The bid process comprises two crucial phases: Expression of Interest, followed by the Invitation to Tender, with pre-selected candidates submitting comprehensive proposals.

Amid economic stakeholder input gathered by January 22, 2025, the goal is clear: attract the right investors and lock in advantageous concession terms for Cyprus. Additionally, the revamped infrastructure will offer luxury accommodations under long-term leases and modern administrative facilities.

This €400 million development, initially envisioned in 1990, promises to strengthen local tourism with state-of-the-art docking facilities, residential areas, and hotel accommodations. Business experts in Paphos continue to closely monitor the process, ensuring milestones are met to avert further delays.

Exciting times are ahead for maritime tourism as the final contract award is anticipated in early 2026, echoing a significant leap forward for Paphos Marina’s enduring vision.

The Future Forbes Realty Global Properties

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

by THEFUTURE.TEAM

February 16, 2026

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.

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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.

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