Real Estate

Cyprus’ real estate market continued to grow steadily in 2025. March and April have seen significant activity, with Nicosia emerging as a key player in overall sales and high-value transactions.

Nicosia Building Marks Most Expensive Deal of March

The building housing PwC Cyprus’s offices in Nicosia was sold for €29.3 million. Demetra Investment acquired the property from the Cyfield Group, which had developed it in 2015.

According to the Department of Lands and Surveys, this sale was the largest property transaction recorded in March 2025 in which €92.7 million was spent on the 50 highest-value transactions across all districts collectively for the month, and Nicosia alone contributed €45.5 million, almost half of the total, where Limassol fell behind both Nicosia and Larnaca¹.

Further, 1,404 property sales were recorded in April this year- up 3% from April 2024.

District-Level Property Sales in April

• Nicosia: 354 sales (up 15%) – increase.
• Limassol: 461 sales (up 5%) – increase.
• Larnaca: 275 sales (down 11%) – decrease.
• Paphos: 238 sales (down 6%) – decrease.
• Famagusta: 76 sales (up 33%) – increase.

Overall, the outlook shows investors’ confidence is high, with Nicosia leading major transactions. In our opinion, there are many further major transactions to be seen in the near future in Nicosia. As property trends shift, Cyprus remains an attractive market for buyers and investors.

For further information and clarifications please contact us via email at info@zambartaslegal.com or via telephone at +357 22262108.

1. As also reported by Ask Wire. ↩︎