In February 2025, the luxury property market in Cyprus experienced a notable resurgence, as documented in a report published by real estate analytics company Ask Wire. The 50 largest property deals on the island amounted to a total of €64.8 million during this month.

The top ten most costly transactions alone summed up to €36.75 million, predominantly driven by Limassol, which accounted for eight out of these ten transactions, collectively valued at €26.55 million. The other two transactions took place in Paphos, bringing in an additional €10.2 million.

The most significant transaction for the month involved the sale of a field in Limassol’s Tserkezoi area for €9.4 million. This was followed by a €7.6 million deal for a mixed-use property in Kato Paphos and the €3.7 million sale of an apartment building in Potamos Germasogeias, Limassol.

Other notable deals included a house in Kouklia, Paphos, sold for €2.6 million; two fields in Agios Athanasios–Agios Stylianos, Limassol, that fetched €2.55 million and €2.5 million respectively; and a house in Germasogeia–Agia Paraskevi sold for €2.3 million. Additionally, two other fields in Limassol, located in Kato Polemidia–Archangel Michael and Agios Athanasios–Agios Stylianos, were sold for €2.3 million and €2.1 million, respectively. The tenth largest sale was a house in Potamos Germasogeias, Limassol, with a price tag of €1.7 million.

Analyzing the performance by region, Limassol led with transactions amounting to €29.2 million, representing 45% of the national total. Paphos followed with €18 million, making up 27.7%. Nicosia was third with deals worth €7.8 million (12%), narrowly ahead of Larnaca, which had €7 million in sales (10.8%). Famagusta brought up the rear with €2.9 million in transactions, accounting for 4.5%.

The trend of concentration in Limassol and Paphos is evident, with higher-value transactions compared to other areas. In Limassol, the €9.4 million field sale contributed 32.2% of its total. In Paphos, the €7.6 million mixed-use property made up 42.2% of the district’s transactions. Nicosia’s top sale was a house sold for €1.45 million, representing 18.5%, followed by a €1.15 million field in Larnaca (16.4%), and a €500,000 house in Famagusta (17.2%).

Pavlos Loizou, CEO of Ask Wire, remarked that February marked a robust recovery in Cyprus’ luxury property market, more than doubling from January. The upturn was significantly driven by Limassol, highlighting its appeal to both institutional and international buyers.

While a €9.4 million field sale led the figures, residential properties continue to form the backbone of high-value sales. Over 60% of the top 50 transactions were residential, indicating strong demand for ready-to-move-in or income-producing properties over speculative land investments.

There is a noticeable geographic polarization as well, with Limassol and Paphos capturing nearly 73% of the major market value, while regions like Famagusta and Larnaca remain less represented despite competitive pricing. This disparity suggests a gap and potential opportunity for regional development and investor interest.

These insights emphasize the increasing reliance on data-driven analysis for informed decision-making in the market — not just regarding what properties to purchase, but also where, when, and why to invest. At Ask Wire, we continue to empower our clients with the clarity needed to navigate this quickly evolving landscape.