Insights from largest real-estate study ever conducted in Cyprus
BuySell, in collaboration with AXIA Chartered Surveyors, has completed the largest and most comprehensive study of property sale prices ever conducted in Cyprus.
The analysis covers 121,434 properties listed for sale on BuySellCyprus.com. The results will be announced through a series of press releases over the coming weeks. The first part of the analysis focuses on the prices of 32,990 two-bedroom apartments available for sale across Cyprus.
The island’s number one real-estate platform, BuySell, in collaboration with AXIA Chartered Surveyors, has completed the largest and most comprehensive study of property sale prices ever conducted in Cyprus.
The analysis covers 121,434 properties listed for sale on BuySellCyprus.com. The results will be announced through a series of press releases over the coming weeks. The first part of the analysis focuses on the prices of 32,990 two-bedroom apartments available for sale across Cyprus.
This collaboration between BuySell and AXIA Chartered Surveyors marks a new era in data analysis for the Cypriot real estate market. For the first time, professionals and the public have access to high-volume data that accurately reflects the current state of the market.
About BuySell
BuySellCyprus.com is the largest and most trusted real-estate platform in Cyprus, surpassing all competitors in traffic, number of listings and artificial intelligence (AI) technology.
Record-breaking traffic
According to Cloudflare data, BuySellCyprus.com attracts more than two million monthly visitors, both from Cyprus and abroad. This is at least three times more than the next closest competitor.
Leader in property listings
BuySell’s database includes over 121,000 active listings, offering four times more properties for sale than its closest competitor, which comes second and has approximately 30,000 listings.
Based on this data, anyone searching for property outside the BuySell platform may be missing out on up to three out of four available properties. Likewise, sellers not listing their property on BuySell may be missing access to two out of every three potential buyers.
About AXIA Chartered Surveyors
AXIA was established in 2012 and specialises in property valuations, feasibility studies and market and real-estate data analysis. It was selected for this innovative partnership based on its expertise, personnel and industry experience.
Two-bedroom apartments across Cyprus
The above chart presents the price per square metre for two-bedroom apartments both nationwide and by district. To provide a clearer view, both average and median prices were calculated.
The most expensive district is Limassol, with a median price of €4,497/sq.m, followed by Paphos at €3,878/sq.m. Median price for two bedroom apartments in Larnaca is €2,832/sq.m. and in Famagusta €2,563/sq.m. The most affordable district is Nicosia, at just €2,379/sq.m.
The difference between the average and the median is notable. This statistical phenomenon is due to a large number of high-end properties that significantly raise the average, but not the median. Famagusta shows the biggest gap with an average of €5,210/sq.m and half that as the median. This makes sense given the inventory of older units and new developments with sea views and higher specifications. On the other hand, Nicosia is the most homogeneous market.
Two-bedroom apartment market in Limassol
For this report, the 10 most popular areas in Limassol were analysed based on listings on BuySellCyprus.com.
Out of 13,878 two-bedroom apartments analysed, the top 10 areas represent 65 per cent of all the two-bedroom apartments for sale in Limassol. The eastern suburbs are by far the most expensive, with Agios Tychonas leading with median prices for two-bedroom apartment €773,056. Again, we observe the same average-median gap, indicating a concentration of luxury properties. The most affordable areas in Limassol are Kato Polemidia with median 2-bedroom apartment asking price at €290,000 and Ypsonas at €270,000 located in western Limassol.
Two-bedroom apartment market in Nicosia
The 10 most popular areas in the capital, which appears to be the most homogeneous market, are shown in the following chart:
Apart from central Nicosia (Nicosia Municipality), where prices reach around €500,000 per unit, other areas range from under or around €200,000 (e.g., Lakatamia and Latsia) to €290,000 in Acropolis. A total of 6,220 two-bedroom apartments were analysed, with the top 10 areas representing 72 per cent of all the two-bedroom apartments for sale in the Nicosia district.
Two-bedroom apartment market in Larnaca
Larnaca is the third most populated district and the city that has arguably seen the largest increase in property values over the past five years. This is due to factors like relocation of oil refineries, proximity to the airport, better beaches compared to Limassol, easy access to Protaras / Ayia Napa and the capital.
The top 10 areas are detailed in the following chart:
As expected, the most expensive area is Mackenzie, with prices around €500,000 per unit, while Aradippou, Oroklini, and Kiti are among the more affordable ones ranging from €210,000 to €235,000. The analysis includes 9,174 two-bedroom apartments, representing 94 per cent of all two-bedroom units for sale in the district—making the top 10 nearly the entirety of listings.
Two-bedroom apartment market in Paphos
Paphos traditionally attracts the highest demand from international buyers. The chart below shows the 10 most popular areas, accounting for 89 per cent of all two-bedroom apartments for sale in Paphos district.
Tombs of the Kings is the most expensive area in Paphos for two-bedroom apartments with median asking price for 2-bedroom apartments €475,000. Kato Paphos shows a high concentration of premium apartments, as reflected by the gap between the average and median prices. The median asking price for 2-bedroom apartments in Paphos ranges from €320,000 in Anavargos to €462,000 in Kato Paphos. Polis Chrysochous is among the most affordable areas with median asking price at €220,000. It is also worth noting that Peyia does not appear among the top 10 areas for apartments, likely because detached houses are the more common and desirable property type there.
In total, 2,429 two-bedroom apartments were analysed in Paphos.
Two-bedroom apartment market in Famagusta
For the Famagusta district, 1,289 two-bedroom apartments were analysed. The top 10 areas account for the astonishing 98 per cent of all two-bedroom apartment listings in the district.
As expected, tourist areas dominate: Protaras, Ayia Napa, Ayia Triada and Kapparis with ranges from €255,000 to €725,000, followed by areas with more local demand ranging from €138,000 to €215,000 in Paralimni. Noteworthy is the high number of luxury apartments available in the Ayia Napa region.
Data derived from listings
All data used in this study comes exclusively from listings on BuySellCyprus.com. For the purposes of calculating price per square metre, covered verandas were weighted at 70 per cent, uncovered verandas at 30 per cent, basements at 50 per cent, and covered parking spaces at 70 per cent.
In upcoming press releases, BuySell and AXIA Chartered Surveyors will continue to release property price analyses by district, property type and bedroom count, offering buyers, sellers and investors a powerful decision-making tool, backed by real-time market data.
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