Residential property prices in Cyprus rose by 8.5% year on year in the second quarter of 2026. The Central Bank of Cyprus published the latest Residential Property Price Index (RPPI) on 24 September 2026. Overall growth accelerated, but apartments and houses followed different paths. ASTERION examines the figures and what they mean for buyers.
Cyprus housing prices increased by 8.5%
The overall index recorded 8.5% annual growth, up from 7.5% in Q1 2026. Prices increased by 2.4% compared with the previous quarter. The annual figure compares Q2 2026 with Q2 2025; the quarterly figure compares it with Q1 2026. The two measures describe different periods.
The RPPI draws on residential property valuations submitted by participating credit institutions and covers the government-controlled territory of the Republic of Cyprus. It is neither an average asking price nor the change in value of every property. It provides a market benchmark, not a substitute for valuing an individual home.
Apartment and house prices are moving at different speeds
Cyprus apartment prices continued to grow faster than house prices on an annual basis. However, apartment price growth slowed while house price growth accelerated. All figures in the following table are annual changes in the CBC indices.
| Segment | Q1 2026 | Q2 2026 |
|---|---|---|
| Residential property overall | +7.5% | +8.5% |
| Houses | +3.0% | +5.8% |
| Apartments | +10.8% | +8.9% |
A headline about rising Cyprus property prices therefore does not mean every segment is accelerating. Useful comparisons require the same property type, district and broadly comparable characteristics.
How property prices changed across Cyprus districts
The table shows annual changes in Q2 2026. These are administrative districts, not just city centres. Famagusta, like the index as a whole, covers the area under the control of the Republic of Cyprus.
| District | Houses | Apartments |
|---|---|---|
| Paphos | +3.1% | +18.5% |
| Limassol | +4.3% | +7.8% |
| Larnaca | +8.9% | +7.9% |
| Nicosia | +4.4% | +4.6% |
| Famagusta | +10.5% | +7.4% |
Paphos
Paphos recorded the strongest annual apartment price growth among the districts in the report. House prices rose much more moderately. Buyers comparing apartments with villas should not apply one segment's growth rate to the other. Our Paphos property market review provides further context on choosing a location.
Limassol
Annual apartment price growth exceeded house price growth in Limassol. The CBC nevertheless recorded a slowdown in the rate of apartment price growth compared with the previous quarterly observation. Slower growth does not mean falling prices.
Larnaca
House prices increased faster than apartment prices in Larnaca. The nationwide pattern of stronger apartment price growth cannot simply be applied to every district.
Nicosia
The two segments moved at similar rates in Nicosia. Both remained positive, with a much smaller gap between houses and apartments than in Paphos.
Famagusta
Famagusta led the five districts in annual house price growth. Apartment prices also increased, but at a more moderate rate.
What is supporting the Cyprus housing market?
The CBC attributes the increase to sustained demand, primarily from foreign buyers and also from domestic buyers, alongside rising construction costs. This is the report's explanation of recent developments, not an ASTERION forecast of further price gains.
According to CYSTAT data cited by the CBC, construction material prices increased by 2.4% year on year in Q2 2026. The bank also highlights labour shortages and wage pressures in construction.
Supply is gradually expanding. Building permits approved in January–May 2026 covered 8,978 residential units, compared with 5,484 a year earlier, an increase of 63.7%. These are permitted units across Cyprus over five months, not completed homes delivered during the quarter. The figures do not establish that those additional homes are already available to buyers.
Property demand remains strong
Adding the Department of Lands and Surveys (DLS) monthly figures for April–June gives 5,298 registered contracts of sale, compared with 4,592 in the same period of 2025: an increase of 15.4%. The totals match the CBC report.
| Measure | Q2 2025 | Q2 2026 | Annual change |
|---|---|---|---|
| All registered contracts of sale | 4,592 | 5,298 | +15.4% |
| Properties under foreign buyers' registered contracts | 1,717 | 2,107 | +22.7% |
| Domestic buyers: measure reported by the CBC | 2,875 | 3,191 | +11.0% |
Foreign demand grew faster, while the domestic measure remained larger in absolute terms. The foreign-buyer row counts properties covered by registered contracts, not individual people. The CBC domestic figure corresponds to the difference between the overall contract total and the foreign segment.
DLS contracts cover all property types, not just apartments and houses. A registered contract is also different from a completed transfer of ownership. Demand statistics therefore complement the RPPI rather than measuring exactly the same market activity.
What these figures mean for the Cyprus property market
The Cyprus real estate market in 2026 continues to record price growth, but the headline conceals distinct trends by district and property type. Apartments lead annual growth nationwide, house price growth is accelerating, and foreign buyers remain an important source of demand.
ASTERION's practical conclusion is to use the index as a market reference, then compare individual properties by location, condition, documentation, construction quality and total ownership costs. Past price growth does not guarantee future appreciation, rental income or a successful resale.
Sources and methodology
- Central Bank of Cyprus — RPPI, Q2 2026, published 24 September 2026: Tables 1 and 6 for prices; Section 3 for demand, construction costs and supply.
- DLS — Contracts of Sales 2025–2026, dated 1 September 2026: only April–June of each year is used.
- DLS — foreign buyers, 2026 and 2025: quarterly totals of properties with registered contracts, combining EU and non-EU categories and excluding Cypriots.
Data checked on 24 September 2026. Percentage changes in contract counts are rounded to one decimal place. This article is for information purposes.