Cyprus experienced a significant 19% increase in property sales in March compared to the same month in the previous year, with each district witnessing double-digit growth over March 2024.

In Paphos, sales soared by 32%; Larnaca saw a 21% rise; Nicosia experienced an 18% increase; Famagusta’s sales climbed 15%; and Limassol saw an 11% rise.

Despite Limassol having the smallest sales increase, it recorded the highest number of sales across all districts, with 477. This figure represents the highest monthly sales number for any district since monthly reports began in 2008.

During the first quarter of 2025, sales across the board outpaced those from the previous year, with all regions reporting gains. Larnaca led with a 26% increase, followed by 15% increases in both Limassol and Nicosia, a 7% rise in Paphos, and a 4% uptick in Famagusta.

Though Cyprus might be on the verge of a record sales year, the trade tariffs introduced by Donald Trump could indirectly impact the property market. A potential economic slowdown in the eurozone, stemming from reduced EU exports to the U.S., might erode investor confidence and reduce foreign investment—both critical to the Cyprus property market’s vitality.

Rising costs for imported goods and materials could drive up construction expenses and inflation, potentially deterring prospective property buyers and investors, ultimately lowering demand. Inflationary pressures might influence the European Central Bank’s policy decisions, affecting interest rates. If interest rates climb, borrowing costs for mortgages and property loans might rise, potentially cooling the property market.

The impact of the U.S. tariffs has yet to be felt in Cyprus, but their duration, magnitude, and the Eurozone’s response could produce ripple effects. Predicting the outcome is challenging. Elon Musk recently advocated for eliminating tariffs between the U.S. and Europe, favoring a free-trade zone between the two regions.

Nationwide protests, dubbed “Hands Off!” rallies, took place in cities including Washington, New York City, Los Angeles, and Philadelphia, in response to budget cuts from Elon Musk’s Department of Government Efficiency and President Trump’s newly imposed tariffs.

In March, domestic property sales rose by 14% year-on-year, with every district reporting higher numbers. Famagusta led with a 27% increase, followed closely by Nicosia at 26%, Paphos at 20%, Larnaca at 7%, and Limassol at 6%. Yet again, Limassol, despite a modest sales increase, achieved the highest number of domestic sales, totaling 305.

For the first quarter of 2024, domestic sales surged by 15% compared to the previous year. While sales dipped by 8% in Paphos and stabilized in Famagusta, they shot up by 29% in Larnaca, 17% in Limassol, and 16% in Nicosia.

The overseas market saw a 25% rise in March, compared to the year before. Nonetheless, Nicosia’s sales fell by 13%, remaining unchanged in Famagusta. However, Larnaca’s sales increased 41%, Paphos by 39%, and Limassol by 21%, with Paphos achieving an impressive 204 sales that month.

Year-to-date, overseas sales in 2024 have grown 15% compared to the same timeframe the previous year, with all districts enjoying growth. Specifically, Larnaca rose by 22%, Paphos by 16%, Limassol by 14%, Famagusta by 9%, and Nicosia by 2%.

Sales to EU citizens in March saw a 16% boost, though Nicosia and Famagusta experienced declines of 36% and 27%, respectively. In contrast, sales rose by 65% in Larnaca, 60% in Paphos, and 10% in Limassol.

In the first quarter of 2024, sales to EU citizens rose by 29%, with the exception of Nicosia, which saw a 6% decline. Notable increases included Paphos at 55%, Famagusta at 49%, Nicosia at 32%, and Larnaca and Limassol at 27% and 16%, respectively.

Regarding non-EU nationals, March saw a 30% rise in property sales compared to the previous year across all districts. Significant growth was noted in Famagusta at 40%, Larnaca at 34%, Paphos at 31%, with both Limassol and Nicosia witnessing a 26% increase.

The first quarter of 2024 saw a 10% increase in property sales to non-EU citizens comparative to March 2024. Though Famagusta experienced a 21% dip, other districts recorded gains: 20% in Larnaca, 14% in Limassol, 10% in Nicosia, and 3% in Paphos.

The illustrative chart below depicts the varying popularity among different market segments across districts. In Paphos, a favorite for holiday home seekers, sales to non-EU nationals surpassed those to the domestic market. Larnaca’s appeal is on the rise, with the overseas market showing the most robust growth in the first quarter at 22%.