Cyprus Property Prices 2027: Average Price and Price per m² by City, New-Build Asking Prices Against the Official Indexes

New-build homes listed with us cost a median of €495,000 on 6 November 2026, and the median new apartment asks €5,239 per m² before VAT: €5,564 in Limassol, €5,100 in Paphos, €4,218 in Larnaca and €3,947 in the Famagusta district. €300,000 before VAT buys about 54 m² of apartment in Limassol, 59 m² in Paphos and 71 m² in Larnaca, and VAT of 19% adds €57,000 on top. These are developers' asking prices on new-builds, and the official indexes measure something wider: every dwelling sold, new and resale. The Statistical Service's House Price Index rose 7.9% in the year to the second quarter of 2026 and the Central Bank's Residential Property Price Index 8.5%, while the Statistical Service's median for all dwellings sold in 2024 was €2,975 per m² in Limassol, €2,010 in Paphos and €1,933 in Larnaca. The two kinds of figure answer different questions and must not be mixed in one comparison (our database on 6 November 2026, official sources read on 9 November 2026).

Cyprus property prices by city on 6 November 2026

The table gives the asking prices of the homes available in the published new-build projects of our database on 6 November 2026, before VAT. Apartments are priced per m² of interior area where the listing states it and of built area otherwise. The full list is on properties for sale in Cyprus.

Limassol is the dearest per m² of the three large markets, Paphos has the largest stock and Larnaca has the lowest entry price. Nicosia (30 apartments in five projects) and the Famagusta district (41 apartments in four projects) are small samples, so their per-m² figures describe a handful of projects. The area detail for each large market is on property for sale in Limassol, properties in Paphos and property for sale in Larnaca. Limassol is set against Nicosia in our guide Limassol or Nicosia, and Paphos against Protaras in Paphos or Protaras.

Only available homes of published projects are counted, so a sold or reserved unit leaves the figures. Resale homes are not in our catalogue at all, and every number in this section is the price a developer asks.

Price per m² in Cyprus: what a square metre of a new apartment costs by city

Across 2,162 apartments with a stated area, the median is €5,239 per m² and the middle half lies between €4,231 and €6,652 (recomputed on 9 November 2026 from the same database). The city medians in the table above sit inside that range, and the price per m² of a particular project depends on its position far more than on its city.

The catalogue prices exclude VAT. With VAT of 19% a square metre costs €6,621 in Limassol, €6,069 in Paphos, €5,019 in Larnaca, €4,697 in the Famagusta district and €6,501 in Nicosia. With the reduced 5% rate, which needs a qualifying main residence, the figures are €5,842, €5,355, €4,429, €4,144 and €5,736. The rules for each rate are in Cyprus property VAT explained.

Villas are priced per m² of built area, and the plot is extra. The median villa asks €6,781 per m² in Limassol, €5,498 in Paphos (Kouklia €4,923 and Polis €4,118 are listed separately), €4,031 in the Famagusta district and €3,904 in Larnaca, with €5,250 across 751 villas in 119 projects. The median villa costs €1,335,000 in Limassol, €1,070,000 in Paphos, €726,000 in Larnaca and €637,000 in the Famagusta district.

Price per m² by bedrooms: why the rate rises in Limassol and falls in Paphos and Larnaca

The median price per m² of an apartment depends on its size, and the direction differs by city (6 November 2026, before VAT):

• Limassol: €5,203 for a one-bedroom of 54 m², €5,556 for a two-bedroom of 90 m² and €6,528 for a three-bedroom of 139 m². Each extra bedroom raises the rate.
• Paphos: €5,172 for a one-bedroom of 52 m², €5,073 for a two-bedroom of 83 m² and €4,375 for a three-bedroom of 133 m². The larger the apartment, the lower the rate.
• Larnaca: €4,327 for a one-bedroom of 50 m², €4,209 for a two-bedroom of 78 m² and €3,572 for a three-bedroom of 110 m². The pattern matches Paphos.
• All Cyprus: €5,096, €5,214 and €5,495 for one, two and three bedrooms.

A quoted price per m² is therefore only comparable between apartments of similar size. A three-bedroom in Limassol at €6,528 per m² and a three-bedroom in Larnaca at €3,572 per m² differ by 83%, while the two-bedroom medians differ by 32% (€5,556 against €4,209).

Property prices inside each city: the price per m² spread by area

The gap between areas inside one city is wider than the gap between cities. These are median asking prices per m² for the apartments listed in each area on 6 November 2026, before VAT:

• Limassol: from €4,133 in Asomatos, €4,190 in Germasogeia Village and €4,301 in Trachoni, through €5,370 in Agios Athanasios and €5,749 in Germasogeia, to €7,661 for the central listings and €12,541 in Agios Tychonas (46 apartments in 7 projects).
• Paphos: from €4,125 in Geroskipou (177 apartments in 13 projects) and €5,321 in Universal, through €6,048 in Chloraka and €7,535 in Kato Paphos, to €8,137 in Tombs of the Kings (123 apartments in 8 projects).
• Larnaca: from €3,027 in Lefkara and €3,228 in Kiti, which are one project each, through €4,211 in Livadia (143 apartments in 13 projects) and €4,867 in Downtown, to €5,620 in Mackenzie (12 apartments in 3 projects).

Limassol alone spans €4,133 to €12,541 per m², a factor of three, while its city median is only 32% above Larnaca's. The cheapest Limassol areas, at €4,133 to €4,301, cost less per m² than Larnaca's Downtown at €4,867. Areas with one or two projects describe those projects, so compare the individual building before relying on an area figure.

Average house price in Cyprus: why the mean sits above the median

On 9 November 2026 the mean asking price of the 3,214 available homes in our database is about €768,000, against a median of €495,000. For the 2,164 apartments the mean is about €603,000 and the median €411,000. By district the means are about €833,000 in Limassol, €796,000 in Paphos and €391,000 in Larnaca, against medians of €495,000, €535,000 and €305,000. The villas pull the mean up: 368 of them ask €1,000,000 or more and 104 ask more than €2,000,000, so the median is the better single number for a typical home. The middle half of the apartments costs between €308,000 and €591,000.

The official sources we read do not publish an average price in euros for a home. The Statistical Service publishes an index and a median price per m² by district, and the Central Bank publishes indexes. When a page quotes an average house price for Cyprus in euros, check whether it is a mean or a median, which homes it covers and what year it describes.

What €300,000 buys: worked example of property prices by city in m²

The example divides a budget of €300,000 by the median price per m² of apartments in each city. The first column of results treats €300,000 as the price before VAT, which is how developers quote new-builds. The second treats €300,000 as the whole payment including 19% VAT, so the price before VAT is €300,000 ÷ 1.19 = €252,101. Fees are left out of both.

In steps for Limassol: €300,000 ÷ €5,564 = 53.9 m², and €252,101 ÷ €5,564 = 45.3 m². For Larnaca: €300,000 ÷ €4,218 = 71.1 m², and €252,101 ÷ €4,218 = 59.8 m². At median prices Paphos gives 9% more floor area than Limassol (58.8 against 53.9 m²) and Larnaca gives 32% more (71.1 against 53.9 m²). The median Larnaca apartment has about 76 m² and costs €295,000, so €300,000 buys roughly a median apartment there.

Our article €300,000 in Paphos against Limassol reaches 68 m² in Paphos and 58 m² in Limassol, a gap of 17%. That article measures apartments priced between €300,000 and €400,000 on 30 October 2026, at €4,425 and €5,169 per m², while this guide uses every apartment in each city, so the medians and the gap differ. Both are medians of asking prices.

€300,000 plus VAT is also the minimum value of a first-sale new-build for permanent residency under Category 6.2, also called Category F, set out in our Category 6.2 guide. VAT is charged on top of that value, so the whole payment is €315,000 at 5% or €357,000 at 19%.

Cyprus property prices with VAT and fees: worked example for a Larnaca two-bedroom

The case is the median two-bedroom apartment in Larnaca: €319,850 before VAT for about 78 m² (6 November 2026). The columns show the same apartment bought as a main residence at 5% VAT, as a second home at 19% VAT, and for comparison a resale at the same price, which the catalogue does not contain.

The arithmetic: VAT at 5% is 0.05 × €319,850 = €15,992.50 and at 19% it is 0.19 × €319,850 = €60,771.50. The legal fee is 1% × €319,850 = €3,198.50, plus 19% VAT on the fee, which is €3,806. The resale transfer fee uses the 50% reduction that applies when no VAT is charged: 1.5% × €85,000 = €1,275, plus 2.5% × €85,000 = €2,125, plus 4% × (€319,850 − €170,000) = €5,994, which is €9,394. Stamp duty is zero for contracts signed from 1 January 2026. The rates are those of our guides to the cost of buying property in Cyprus and VAT, and the Land Registry charges are an assumption.

At 5% VAT the all-in cost is €339,949 ÷ 78 m² = €4,358 per m². The 5% rate applies only when the home becomes the buyer's primary and main residence for ten years, within 130 m² and €350,000 for the reduced part and €475,000 and 190 m² for the whole transaction. The Larnaca median sits inside those limits. The Limassol median two-bedroom, at €499,500 for about 90 m², is above €475,000, so 19% applies to the whole price: VAT of €94,905. The Paphos median two-bedroom, at €430,000 for about 83 m², lies between the limits, so the VAT is a blend between €21,500 (5%) and €81,700 (19%) that the Tax Department calculates.

Cyprus real estate prices in the official indexes: CYSTAT and the Central Bank

Two official indexes track Cyprus property prices, and they use different data. Both cover the areas under the control of the Republic of Cyprus.

• Statistical Service (CYSTAT) House Price Index. It measures the change in the average price of residential dwellings, new and existing, including the land, from sales registered with the Department of Lands and Surveys, by hedonic regression over a rolling four-quarter window. Base 2025 = 100. Second quarter of 2026: 105.46, up 2.4% on the first quarter and 7.9% on the second quarter of 2025 (preliminary estimate, press release of 30 September 2026). The new-dwellings sub-index stands at 105.73 against 96.26 a year earlier, a rise of 9.8%, and the existing-dwellings sub-index at 105.10 against 100.84, a rise of 4.2%; the two annual changes are our arithmetic from the release.
• Central Bank of Cyprus Residential Property Price Index. It is built from valuations that credit institutions collect from independent valuers, mainly for housing loans, for houses and apartments in the five districts. Base first quarter of 2010 = 100. Second quarter of 2026 (published 24 September 2026): 109.7, up 2.4% on the quarter and 8.5% on the year, with houses at 98.0 (up 5.8% on the year) and apartments at 128.7 (up 8.9%). The four quarters before it read 101.1, 102.3, 104.7 and 107.1.

Neither index gives a price in euros per home. They give the direction and speed of change, and the Statistical Service adds a median price per m² by district in its report of December 2025, which runs to 2024. The Central Bank warns that its index partly reflects earlier quarters through smoothed coefficients, so it may lag a turning point.

House prices by district: official annual change and median price per m² of all dwellings

The table sets the Central Bank's annual change for the second quarter of 2026 beside the Statistical Service's median price per m² of all dwellings sold in 2024, new and resale, and the median asking price per m² of new apartments in our catalogue.

Three facts stand out. Prices rose in every district, fastest in Famagusta, Larnaca and Paphos and slowest in Nicosia. Paphos apartments rose 18.5% in a year, the highest figure in the table, while Paphos houses rose 3.1%. And across the island the apartment price per m² in 2024 exceeded €2,100, almost the same as the house price per m², after apartments rose faster from 2019 (Statistical Service report, December 2025).

Why listed prices per m² differ from official property prices

Our asking prices are 1.9 to 2.9 times the Statistical Service medians: €5,564 against €2,975 in Limassol (1.9), €4,218 against €1,933 in Larnaca (2.2), €5,100 against €2,010 in Paphos (2.5) and €5,463 against €1,898 in Nicosia (2.9). The sources we read do not break this gap into causes, but four differences in what is measured are documented.

1. Price basis. The catalogue holds the prices developers ask now, before any negotiation, and the official median describes dwellings sold, from Department of Lands and Surveys data.
2. Stock. The catalogue lists new and off-plan homes of licensed developers, and the official median includes resales and older stock, which the Statistical Service's own index treats as a separate stratum with its own price level.
3. VAT. Catalogue prices exclude VAT, so a new-build buyer pays 5% or 19% on top, and the sources we read do not state how VAT is treated in the official figures.
4. The year. The official median is for 2024. Since then the Central Bank index has risen from an annual average of 96.7 in 2024 to 109.7 in the second quarter of 2026, which is 13.4%.

The ranking agrees in one respect: Limassol is the dearest large market in both. The size of the gaps differs. Paphos asks 8% less per m² than Limassol in the catalogue but its official median is 32% lower, and Larnaca asks 24% less in the catalogue and is 35% lower in the official data. In new-build listings, Paphos stands closer to Limassol than the whole-market figures suggest. For the choice between the two cities see Paphos or Larnaca and for the transaction counts the market review of the first half of 2026.

Cyprus property prices heading into 2027: what the official indicators show

No official source we read gives a price forecast for 2027, and we give none. The indicators published up to the second quarter of 2026 all point in one direction:

• Sales contracts. The Department of Lands and Surveys registered 14,969 contracts of sale from January to September 2026 against 13,173 a year earlier, a rise of 14%. By district: Limassol 4,860 (+17%), Larnaca 3,291 (+15%), Nicosia 3,163 (+6%), Paphos 2,999 (+18%) and Famagusta 656 (+5%). September alone was 1,681 contracts.
• Foreign buyers. Of 5,298 contracts in the second quarter, 2,107 went to foreign buyers, 22.7% more than a year earlier (Central Bank, using Department data). Foreign buyers made up 66% of the Paphos contracts that quarter, 34% of Limassol's and 16% of Nicosia's.
• Supply. Building permits covered 8,978 residential units from January to May 2026 against 5,484 a year earlier, up 63.7%, and the Central Bank expects supply to increase gradually over the medium term. Construction materials cost 2.4% more than a year earlier.
• Credit and sentiment. New housing loans were €403.6 million in the second quarter, up 14.2%, at a weighted average rate of 3.23% in June 2026. The European Commission survey index of selling-price expectations for the next three months stood at 65.9, against 22.2 a year earlier.

Rising permits show that more homes are coming, and new-builds under construction are delivered over the following years. Many projects in our database list delivery years up to 2030, so ask for the delivery date and the remedy if it slips before comparing two offers.

How to read property prices on a listing

1. Find out whether VAT is in the price. Developers often quote a price plus VAT. Add 5% or 19% before comparing with any resale or any official figure.
2. Find out which area the price per m² uses. Interior area gives a higher rate than built area including verandas, and a project may quote either. Ask for the interior area in the plans.
3. Compare like with like. Use one city, one type and one size band, and ask the price of the exact unit, since floor and position change it inside a project.
4. Read a median as a typical value and a mean as a total divided by the count. The mean of villa-heavy stock is far above the median.
5. Write down the date. These figures are from 6 November 2026 and prices change as units sell.

Cyprus property prices: questions people ask

Sources, all read on 9 November 2026 unless stated. Cyprus VIP Estates database of published new-build projects: available units, prices before VAT, 6 November 2026 (city figures as published on our city and type pages) with the means and quartiles recomputed on 9 November 2026. Statistical Service of the Republic of Cyprus (CYSTAT): press release House Price Index, second quarter of 2026, 30 September 2026; report 2015-2024 House Price Index, December 2025 (median price per m² and sales by district). Central Bank of Cyprus: Residential Property Price Index 2026 Q2, published 24 September 2026. Department of Lands and Surveys: Contracts of Sale 2025-2026 (file dated 5 October 2026). VAT and fee rates from our guides on Cyprus property VAT and the cost of buying property in Cyprus, checked on 6 November 2026. Catalogue prices are asking prices on new-build and off-plan homes and exclude VAT unless stated; resale prices are not in the catalogue. This guide is general information and not tax or investment advice. Cyprus VIP Estates assists investors in choosing new developments; legal and immigration advice comes from licensed professionals.