Cyprus Property Prices in 2026: Where Is the Real Value?
Cyprus Law Chambers | Market update | 23 September 2026
A property market headline can tell you where money is moving. It cannot tell you whether the property you are considering is worth its asking price.
For buyers, sellers and investors, the important questions are practical: What are comparable properties selling for? How does a resale compare with a new build? And what should you check before committing?
The 30-second answer
Residential values are continuing to rise, but performance differs by location and property type. The latest RICS Cyprus Property Index with KPMG shows stronger annual growth for apartments than houses. Our practical conclusion is simple: use market statistics to guide your questions, not to replace a property-specific assessment.
What are resale properties selling for?
Landbank Analytics’ first-half 2026 analysis, reported by Cyprus Mail, recorded 3,202 resale transactions worth €727.2 million. Nicosia led transaction numbers, while Limassol attracted the highest total transaction value.
The district figures provide a useful starting point:
District | Median apartment (€) | Median house (€) | Apartment €/m² |
Limassol | 217,000 | 325,000 | 2,686 |
Paphos | 120,000 | 230,000 | 1,748 |
Nicosia | 138,000 | 215,000 | 1,582 |
Larnaca | 111,000 | 185,000 | 1,528 |
Famagusta* | 101,000 | 255,000 | 1,610 |
Source: Landbank Analytics, as reported by Cyprus Mail. These are medians within the January to June 2026 resale dataset, not asking prices or new-build quotations. The final column is the median apartment price per square metre. *Famagusta refers to the government-controlled district. The €727.2 million total also includes land, plots and commercial property, not just homes.
A median is the middle recorded price. It is not a promise that a particular size or standard of property is available at that figure.
The useful question is therefore not simply, ‘Is this below the district median?’ It is, ‘How does this property compare with genuinely similar properties?’
Are property prices still increasing?
The RICS Cyprus Property Index with KPMG for the second quarter of 2026 recorded annual increases of 5.42% for apartment values and 4.04% for house values.
The quarterly picture was uneven: Larnaca recorded increases of 5.59% for apartments and 4.48% for houses, while Nicosia was unchanged in both categories. A national increase should not be interpreted as the same uplift for every owner.
Source: RICS/KPMG, Q2 2026.
The Central Bank of Cyprus’s first-quarter 2026 report identifies continuing housing demand, particularly from foreign buyers, rising construction costs and a gradual increase in supply as important influences on the market. These help explain price pressure, but they do not establish that every property will appreciate.
What does this mean for Paphos?
Paphos deserves its own assessment rather than being treated as a cheaper substitute for Limassol. RICS/KPMG recorded quarterly increases of 1.94% for apartment values and 2.22% for house values in Paphos during Q2 2026.
Source: RICS/KPMG, Q2 2026.
For someone buying in Paphos, our recommendation is to begin with the intended use: a permanent home, a holiday property or a rental investment.
Then narrow the comparison. An older apartment, a renovated townhouse and a newly constructed villa should not be assessed against one undifferentiated district figure. Ask for comparable evidence that reflects the location, accommodation, condition and legal characteristics of the property being considered.
Resale or new build? Compare the complete purchase
Use the resale table as a resale reference, not as a pricing benchmark for every new development.
For either purchase, establish the total acquisition cost before deciding what is affordable. Confirm whether VAT applies, the relevant treatment and the transfer fees payable. The Department of Lands and Surveys specifically identifies these as matters purchasers should establish before proceeding.
Source: Department of Lands and Surveys, Basic Information before the Purchase of Immovable Property.
Our suggested comparison should also allow for the survey, professional fees, any renovation or furnishing budget and expected running costs. For an unfinished property, examine the agreed specification, payment stages, completion timetable and contractual consequences of delay. Do not assume that everything discussed during a viewing has been included in the contract.
Compare what you will receive, what you will pay in total and what protection you will have.
What should sellers and investors take from the figures?
For sellers, start with evidence rather than a headline percentage. Ask for an assessment supported by comparable properties, rather than automatically adding the national growth rate to an earlier estimate.
Also distinguish the Land Registry’s general valuation from a current market valuation. The Department of Lands and Surveys explains that its general valuation is prepared for taxation and fee purposes and may differ from a valuation for a sale, purchase or borrowing.
For investors, separate rental growth from actual return. RICS/KPMG recorded annual rental-value increases of 7.36% for apartments and 5.30% for houses in Q2 2026. Those are market indicators, not a guaranteed rent or return for an individual property.
Source: RICS/KPMG, Q2 2026.
Our suggested assessment is to test the projected income against realistic vacancy periods, management charges, maintenance, insurance, financing and applicable taxes. An investment should make sense on its own figures, not only on an expectation of future price growth.
The legal position remains part of the purchase decision
Before committing, check the seller’s ownership, the title position, mortgages and other registered burdens, legal access, planning and building matters, and the rights included with the property. For a development, establish the position on parking, storage, common areas and the route to a separate title. These are central elements of the Department of Lands and Surveys’ purchaser guidance.
Our view is straightforward:
A busy market should encourage better preparation, not shorter due diligence.
The right purchase is not necessarily the cheapest property or the one in the fastest-rising district. It is the property that suits your purpose, has been properly assessed and comes with terms you understand.
Questions buyers often ask
Are the resale figures asking prices or individual valuations?
No. The table reports median prices within the January to June 2026 resale dataset. These are not asking prices, new-build quotations or valuations of an individual property.
Can a district median tell me what to offer for a property?
Not on its own. Compare genuinely similar properties and assess the location, accommodation, condition, legal characteristics and complete purchase cost before deciding what to offer.
Does rental growth guarantee a profitable investment?
No. Assess the actual expected income against vacancy periods, management charges, maintenance, insurance, financing and applicable taxes. A market index is not a guaranteed return.
Our Cyprus property lawyers in Paphos provide independent legal guidance on purchases, sales, contracts and title checks. Planning to buy or sell in Cyprus? Request a Property Legal Check before you commit.
Cyprus Law Chambers | Law Chambers Nicos Papacleovoulou LLC
Independent legal advice in Cyprus. Paphos office: 3 Alkiviades Street, 8011 Paphos, Cyprus. Telephone: +357 26 933218. Email: law@papacleovoulou.com.
General information only, not legal, tax or investment advice. Market figures are historical indicators, not individual valuations or forecasts. Please send only a brief, non-confidential outline when requesting an initial review; the firm will confirm whether it can act, the scope and the fees.