Nicosia, Cyprus. Cyprus’ new-build residential property market recorded 3,594 sales worth €1.149 billion during the first half of 2026, according to an analysis by Landbank Analytics. Limassol led in total sales value, Nicosia recorded the highest transaction volume and Paphos maintained the most expensive house market.
Market activity
Sales of apartments and houses that were under construction or at the planning stage totalled approximately €1.15 billion between January 1 and June 30, reflecting continued activity across the island’s residential property sector.
The average transaction value was €319,618, while the median price stood at €232,500. The difference between the figures was attributed to a number of particularly high-value property sales.
Landbank Analytics said the five districts showed significant differences, with market characteristics varying according to buyer demand, property type and price levels.
Apartments and houses
Apartments remained the dominant segment of the off-plan residential market, accounting for 2,977 transactions, or 82.8 per cent of all sales, with a combined value of €810.6 million.
The average apartment selling price was €272,274, while the median price was €215,000.
A total of 617 new houses were sold for €338.1 million during the same period. Their average value was €548,049 and the median price was €365,000.
Although houses accounted for 17.2 per cent of transactions, they represented 29.4 per cent of total market value, reflecting their higher prices compared with apartments.
Price ranges
Most new-home sales were in the mid-market segment. Of the 3,594 transactions, 528 involved properties valued below €150,000, while 1,423 sales were completed at prices between €150,000 and €250,000.
