New figures from the Central Bank of Cyprus show that apartment prices rose 10.8% in the country in the first quarter of 2026 compared to the same period last year, continuing a steady climb that is reshaping the property market across the island.
Overall, home prices went up by 7.5%, but apartments are really driving the surge. Houses saw a slower increase of around 3%.
Looking at the long-term picture, the difference becomes even clearer. Compared to 2010, apartment prices across Cyprus are up by 27%. In Limassol, they have skyrocketed 53%, a reminder that the city remains the country’s most expensive and competitive property market.
According to the Central Bank, the main driver behind the continued rise is demand, and particularly demand from foreign buyers. More people are looking to buy, and construction remains expensive.
More overseas investors are entering the market, especially in coastal cities like Limassol and Paphos, while local demand also continues but at a slower pace. At the same time, construction costs remain high, even if they are rising more slowly than in previous years.
