Cyprus Sold 3,594 New-Build Homes Worth €1.149 Billion in the First Half of 2026

Cyprus sold 3,594 new-build homes worth €1.149 billion in the first half of 2026, with Limassol taking the most value and Paphos the highest prices.

Buyers in Cyprus signed for 3,594 off-plan apartments and houses in the first half of 2026, worth €1.149 billion in total, according to Landbank Analytics figures reported by Cyprus Mail on 3 September and Cyprus Property News the following day. That works out at an average of €319,618 per transaction. Apartments made up 2,977 of the units and €810.6 million of the value; houses accounted for the remaining 617 units and €338.1 million.

Volume and value do not point at the same district

Nicosia recorded the most transactions, 1,063, but only €232.9 million of value. Limassol took 1,050 transactions worth €435 million - almost the same count, nearly double the money. Larnaca sat third on volume with 883 sales worth €187.6 million, roughly nine in ten of them apartments. Paphos logged 497 sales but €258.2 million, more than either Nicosia or Larnaca. Famagusta, covering the government-controlled areas, contributed 101 sales worth €35 million. Anyone using transaction counts as a proxy for where the capital goes would get Cyprus backwards.

Paphos is the expensive end of the new-build market

The median new-build house in Paphos reached €570,000, ahead of Larnaca's €501,450 - a figure driven by Voroklini - and well ahead of Limassol's €390,000, Famagusta's €395,000 and Nicosia's €285,000. On apartments the ranking shifts: Paphos leads at a €302,500 median, just above Limassol's €297,600, with Famagusta at €200,000, Larnaca at €184,000 and Nicosia at €175,000. Paphos house prices rose 21.9% even as its sales weakened, which is the signature of a market where the cheaper stock stops selling rather than one where values climb across the board.

The quarter inside the half-year looks weaker

The half-year total conceals a sharp second quarter. Limassol sales fell 50.9% quarter on quarter and value 57.6%. Larnaca sales dropped 44.8%, though its median apartment price still edged up 3%. Nicosia was down 25.2% on sales and 18.2% on value. A half-year headline of €1.149 billion therefore describes a market that was considerably busier in the first three months than in the second three.

Most of the market is under €400,000

Of the 3,594 units, 2,982 - some 83% - sold below €400,000, while only 103, or 2.9%, went above €1 million. The luxury tier that dominates coverage of Cyprus property is a rounding error in the transaction count, even though Limassol's value share shows it moves real money. For context, Glopra's snapshot of 31 August 2026 puts the Cypriot national average at $2,910 per square metre on a gross rental yield of 4.88%, with prices 3.4% higher than a year earlier - a slower national price path than the 21.9% jump in Paphos house medians, which is exactly what a mix shift rather than a broad revaluation looks like.

What the dataset does not say

Landbank counts contracts for off-plan and new-build stock, not resales, so the figures describe developer activity rather than the whole market. They also do not identify buyer nationality, which matters in a country where foreign buyers took 41.3% of sale contracts, nor do they show how many of the second-quarter contracts were postponed rather than lost.

Sources: Cyprus Mail (Landbank Analytics H1 2026 new-build data), 3 Sep 2026 https://cyprus-mail.com/2026/09/03/paphos-posts-highest-new-house-prices-in-cyprus-despite-market-slowdown; Cyprus Property News (Landbank Analytics), 4 Sep 2026 https://news.cyprus-property-buyers.com/2026/09/04/cyprus-new-build-property-sales-h1-2026/id=00173141

Market data: Cyprus