House Prices - The Largest Real Estate Study Ever Conducted in Cyprus (Part 2)

The number-one real estate platform in Cyprus, BuySell, in collaboration with AXIA Chartered Surveyors, has completed the second part of the most extensive and detailed property price study ever carried out in Cyprus.

The analysis covers 121,434 properties offered for sale through the BuySell platform. The first part focused on 32,990 two-bedroom apartments available for sale across Cyprus. The second part concentrates on 12,218 three-bedroom houses listed for sale nationwide.

The collaboration between BuySell and AXIA Chartered Surveyors marks a new era in data analysis for the Cypriot real-estate market. For the first time, both professionals and the public have access to large-scale data that accurately reflects the current state of the market.

About BuySell

According to a recent IMR/University of Nicosia survey, BuySell holds a leading position, consistently capturing between 70% and 80% market share. BuySell is the largest and most trusted real-estate platform in Cyprus, outperforming every competitor by up to four times in website traffic, number of listings, and AI-driven technology.

Record traffic

According to Cloudflare data, the BuySell platform attracts over two million visitors monthly, both from Cyprus and abroad. This is at least triple the traffic of its nearest competitor.

BuySell is The Leader in Property Listings

BuySell’s database includes over 121,000 active listings, offering four times more properties for sale than its nearest competitor, which has around 30,000 listings.

Based on the data, anyone searching for property outside BuySell may miss up to 3 out of 4 available properties on the market. Likewise, sellers who do not list their property on BuySell may lose access to 2 out of every 3 potential buyers.

About AXIA Chartered Surveyors

AXIA was founded in 2012 and specializes in property valuations, feasibility studies, and real-estate market and data analysis. It was selected for this innovative collaboration due to its expertise, human resources, and extensive experience in the field.

Three-Bedroom Houses Across Cyprus

The chart below shows price values per square meter (€ / m²) for three-bedroom houses across Cyprus and by district. For better accuracy, both the average and median values were calculated.

The most expensive cities are Limassol (€ 3,685/m²) and Paphos (€ 3,652/m²), followed by Famagusta (€ 3,470/m²), while Nicosia ranks last with just € 1,847/m².

A key observation is the gap between the average and median prices. Statistically, this occurs due to a large number of high-end properties that raise the average without equally affecting the median. The largest disparity appears in Larnaca, followed by Famagusta — an expected phenomenon given Larnaca’s recent real-estate boom, with major investments in coastal areas (Dhekelia, Mackenzie) and large development projects. These high-value projects inflate the average price, while the median remains lower. Conversely, Nicosia shows the greatest uniformity, with a more stable and compact market. Prices there are generally lower and within a narrow range, hence the convergence between median and average indicators.

Limassol – 3-Bedroom House Analysis

The study analyzed the 15 most popular Limassol areas based on BuySell listings.

As expected, Limassol Marina recorded the highest asking prices, due to direct sea access and its prime location. High prices are also found in Limassol Municipality, influenced by expensive central-city developments. Next come the coastal zones (e.g., Mouttagiaka, Kalogiroi, Germasogeia, Agios Tychonas, and Agios Athanasios), driven by their location, tourism growth, high-end developments, and strong demand over the last decade — particularly from Russian buyers. In Pyrgos and Pareklisia, the significant difference between average and median values indicates a concentration of luxury homes awaiting buyers. On the other hand, more affordable areas are found in Western Limassol (Ypsonas, Palodeia) and Moni.

Paphos – 3-Bedroom House Analysis

Traditionally, Paphos shows the highest foreign-buyer demand. The chart below presents the 12 most popular areas.

The most expensive area is the luxury resort “Aphrodite Hills”, followed by the Sea Caves area in Peyia. More affordable regions include Kato Paphos (Universal), Paphos Municipality, and Empa. Although these enjoy high demand thanks to their central and tourist-friendly locations, a large supply and variation in property quality (mainly older developments) keep average indicators lower. In total, 2,487 three-bedroom houses were analyzed in Paphos.

Larnaca – 3-Bedroom House Analysis

Larnaca is the third most populated district and has recorded the fastest property value growth over the past five years. This trend is attributed to factors such as the relocation of oil refineries, proximity to the airport, better beaches compared to Limassol, easy access to Protaras, Ayia Napa, and Nicosia.

The top ten areas are presented in the following chart.

The most expensive area is Dhekelia, while the most affordable is the city center — likely due to the older housing stock. Oroklini stands out, with a median price of € 3,490/m², but an average soaring to € 10,296/m² — a massive divergence showing that while most properties are near € 3,500/m², a few luxury beachfront projects push up the average disproportionately.

Ammochostos – 3-Bedroom House Analysis

For the free Famagusta district, 1,346 listings were analyzed.

As expected, tourist areas dominate (Protaras, Ayia Napa, Ayia Triada, and Kapparis), followed by regions with mainly local demand. Of note is the large gap between average and median values in Ayia Napa and Ayia Triada, where luxury villas and Ayia Napa Marina projects inflate the average. Conversely, deviations in Avgorou and Sotira are less representative due to the small number of listings.

Nicosia – 3-Bedroom House Analysis

The ten most popular areas of the capital — the most homogeneous district — are analyzed in the chart below.

Nicosia records the lowest price levels among all districts, with most areas ranging € 1,750–2,100/m². Overall, Nicosia represents a more stable and affordable market compared to the coastal districts, reflecting a local, permanent-residence-driven demand.

To explore the entire property market without missing any listings, visit BuySellCyprus.com or download the BuySell app on the App Store or Google Play.