AVERAGE PRICES FOR APARTMENTS, HOUSES, AND LAND PLOTS IN CYPRUS IN THE FIRST QUARTER OF 2024

The Cypriot Real Estate Registration Council (SEK) analyzed real estate sales data for the first quarter of 2024 and calculated the average prices for apartments, houses, and land plots in each region of the island. The most expensive category in the real estate sales sector was houses in the free territories of Famagusta (Ayia Napa, Protaras, Paralimni, and surroundings), while the most affordable was land plots in Nicosia.

APARTMENTS

From January to March 2024, 421 apartments were sold in the Republic of Cyprus. Nicosia led with 170 sales.

The average prices for apartments in each district were:

• €208,220 — Limassol (86 apartments)
• €131,841 — Nicosia (170)
• €116,914 — Larnaca (78)
• €107,175 — Paphos (65)
• €105,182 — Free Territories of Famagusta (22)

HOUSES

In the first three months of 2024, 244 house purchase/sale contracts were registered in Cyprus. The capital, Nicosia, again led, accounting for more than half of the transactions.

The average prices for houses sold in the first quarter of 2024 were:

• €393,497 — Free Territories of Famagusta (16 houses)
• €209,917 — Limassol (60)
• €206,436 — Larnaca (11)
• €138,488 — Nicosia (137)
• €96,925 — Paphos (20)

BUILDABLE LAND PLOTS

Buildable land plots (plots of land where construction is permitted, but additional permits are required) were more popular among buyers compared to houses and apartments. From January to March, 462 land plots were sold. The leaders were Nicosia (143) and Larnaca (141).

The average prices for buildable land plots were:

• €276,468 — Paphos (67 plots)
• €207,875 — Limassol (90)
• €196,857 — Free Territories of Famagusta (21)
• €182,350 — Larnaca (141)
• €167,966 — Nicosia (143)

NON-BUILDABLE LAND PLOTS

This category of real estate was the absolute leader in sales in the first quarter, with 1206 properties changing owners. Most land purchases occurred in Nicosia and Limassol.

The average prices for non-buildable land plots were:

• €119,249 — Paphos (177 plots)
• €96,592 — Limassol (365)
• €94,175 — Free Territories of Famagusta (98)
• €94,102 — Larnaca (196)
• €82,192 — Nicosia (370)