Nicosia property market analysis for 2026

On October 20, 2026, G&P Lazarou Estate Agents presented the 'Nicosia Property Market 2026' analysis at their headquarters in Strovolos. Andreas Markidis, Head of Investments at G&P Lazarou, utilized data from the Department of Lands and Surveys, the Central Bank, and other sources to report that Nicosia recorded 7,911 real estate transactions in 2025. This figure marks a 10.4% increase from 2024 and a 42% rise since 2020, positioning Nicosia ahead of Limassol in transaction volume.

Key findings highlight that the Nicosia market is driven by new apartment sales, which grew by 150% between 2020 and 2025. While transaction volume is high, Limassol maintains the lead in total property value, with a significantly higher average transaction value of €363,000 compared to Nicosia’s €161,000. Despite a 10% nominal increase in housing prices in Nicosia since 2020, real terms show a 7% decline when adjusted for the 18.5% rise in consumer prices and the 35% surge in construction costs.

Eighty-seven percent of apartment and house sales in Nicosia occurred below the €300,000 threshold. The analysis indicates that while properties are actively trading, house price growth has failed to keep pace with the broader inflationary pressure on the Cypriot economy.