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Property Prices

How much does property cost in Cyprus?

This section looks at property prices in the five districts of the Republic.

Famagusta (Ammochostos)

Property prices in the main areas of interest to foreign buyers rose by around 30 per cent in 2004. After a rapid decline during the economy crisis the prices are now rising again. Average prices in the two principal resorts are shown below.

Location	Apartment	Townhouse	Villa
Agia Napa	100,000 (2-bed)	170,000 (3-bed)	275,000 (4-bed)
Protaras	110,000 (2-bed)	130,000(3-bed)	170,000 (3-bed)

Larnaca (Larnaka)

Prices in general are rising faster than in other districts (around 25 per cent during 2004), and there are some modern and stylish ‘city’ apartments and penthouses there, with higher than average prices (between €250,000 and €350,000). Nevertheless, most property is still far cheaper than in most other parts of the island. The table below shows average prices (in €) in the Larnaca district.

Location	Apartment	Townhouse	Villa
Larnaca City	85,000 (1/2-bed)	185,000 (2/3-bed)	255,000 (3/4-bed/private pool)
Oroklini	165,000 (2-bed)	200,000 (2/3-bed)	255,000 (3/4-bed/private pool)

Limassol (Lemesos)

The table below shows average prices (in €) in the Limassol district. It’s difficult to be specific about prices in villages in the foothills of the Troodos mountains. They’re still relatively cheap, compared with the rest of the island, but many need extensive renovation, which can be expensive. Although there’s a growing trend to buy old village houses and renovate them, not many estate agents have village houses on their books. If you’re looking for one of these houses, go to the village in question and ask around. There’s usually a Village Head, who will give you advice. Bargains can still be found in really remote villages, but these are only for those who like complete peace and quiet.

Location	Apartment	Townhouse	Villa
Limassol City	145,000 (2-bed)	170,000	340,000
East Beach	130,000 (2-bed)	195,000 (3-bed)	245,000
Souni Village	170,000	N/A	340,000 (3-bed)
Laneia	N/A	100,000 (village house)	205,000
Palodia	N/A	220,000	425,000 (3/4-bed)

Nicosia (Lefkosia)

In the old city centre, a two-bedroom semi-detached house costs around €85,000, a semi-detached, 3-4-bedroom house around €155,000. Some older properties, especially those in the old city are government protected (which means you must obtain permission before carrying out any renovation), and they’re significantly cheaper.

There are also plenty of purpose-built apartments on the outskirts of the city, ranging from around €85,000 for a one-bedroom apartment to around €170,000 for a three-bedroom house. The table below shows average prices (in €) in the area surrounding Nicosia city.

Location	Apartment	Semi–detached House	Detached House
Nicosia City	100,000 (1/2-bed)	305,000 (3/4-bed)	340,000

Paphos (Pafos)

The table below shows average prices (in €) in the Paphos district. Note, however, that the prices of apartments, townhouses and villas on the Aphrodite Hills development are rising faster than on the rest of the island.

Location	Apartment	Townhouse	Villa
Paphos Town	130,000 (2-bed)	205,000 (3-bed)	510,000 (3/4-bed)
Pissouri	155,000	200,000 (2-bed)	425,000 (4-bed)
Kamares Village	230,000	325,000	410,000 (3/4-bed)
Coral Bay	100,000	255,000	425,000 (3/4-bed)
Pegeia	130,000 (2-bed)	255,000	510,000 (3/4-bed)