Is Now the Time to Buy? Cyprus Property Prices Hit a Downward Trend

If you’ve been browsing listings and wondering whether you’ve missed the boat, the past couple of months offer a different story. Asking prices for standard apartments in Cyprus have generally eased. That doesn’t mean bargains on every corner, but it does change the mood for buyers who felt priced out earlier in the year.

Below is a breakdown of what’s going on with Cyprus properties, based on a recent study from 1 August to 1 October 2025 by Perprice, focusing on standard apartments.

1) The headline: prices are slipping in most major cities

Across Limassol, Paphos and Larnaca, the overall direction was down. The study’s summary charts show average asking prices falling by roughly low-to-mid single digits in those cities, while Nicosia’s overall average was close to flat.

For buyers, that matters less as a headline and more as a signal: sellers are more willing to adjust expectations, and the market is starting to reward patience and negotiation.

2) Limassol: still expensive, but sellers are trimming

Limassol remains Cyprus’s high-price market, yet the numbers point to gentle softening rather than runaway growth. On the city-wide average, asking prices dipped by about 3.4% over the period.

What’s also telling is supply. The number of standard apartments advertised for sale increased, which usually gives buyers more choice and slightly more leverage.

If you’re looking at Cyprus properties for sale in Limassol, you may see fewer “take it or leave it” conversations than before. Homes still move when they’re well-priced and well-presented, but buyers who do their homework can push back on optimistic asking figures.

3) Paphos: the sharpest drop sits in larger apartments

Paphos posted one of the more pronounced overall declines, around 4.3% on average.

The city’s three-bedroom segment stands out even more, with a steep fall over the same two months.

At the same time, the number of listings in Paphos fell, suggesting that some sellers may have pulled properties from the market rather than reducing the price.

What should a buyer take from that?

• If you need space, Paphos may offer a better negotiating window than its “holiday hotspot” reputation suggests.
• If you’re selling, it’s a reminder that size alone doesn’t guarantee a premium. Layout, parking, and overall condition can decide whether a buyer accepts the asking price.

4) Larnaca: mixed by bedroom count, but the average is down

Larnaca’s overall average asking price slipped by about 1.8%, which reads as a gentle cooling rather than a slump.

Under the surface, the pattern varies by apartment type. One-bedroom flats rose, while two-beds fell more noticeably, and three-beds moved only slightly.

For buyers, this is where broad market talk can mislead. If you’re seeking a two-bedroom in Larnaca, you’re shopping in a different climate from someone hunting for a compact one-bed near amenities.

5) Nicosia: stable overall, but not uniform

Nicosia was the outlier. The city’s overall average was essentially flat, down by about 0.3%.

Even there, the picture isn’t perfectly even. One- and two-bedroom prices rose modestly, while three-bed apartments fell.

Listings also increased, particularly for larger flats.

So, is Nicosia “immune”? Not exactly. It simply looks steadier, which fits the capital’s role as a year-round living and working market rather than a lifestyle-led coastal market.

What a downward trend really means for buyers

A softer market doesn’t automatically mean “cheap”, and it doesn’t guarantee that waiting will always pay off. What it does mean is that buyers can often negotiate in ways that felt unrealistic during faster price rises.

If you’re looking at a property for sale in Cyprus, consider negotiating on more than just the headline number:

• Timeframes: a longer completion window might suit a seller who’s already bought elsewhere.
• Inclusions: appliances, furniture, or repairs can be worth real money.
• Due diligence outcomes: if surveys or legal checks flag issues, a price reduction is easier to justify in a cooling market.

Also Read: Understanding Cyprus Property Valuations: Tools, Timing & Tips to Get the Best Price

Who should think seriously about buying now?

Whether you should buy property in Cyprus depends less on headlines and more on personal timing. The recent price movements create an opening for three groups in particular:

• First-time buyers who need sellers to be realistic, especially in segments where prices have visibly eased.
• Upgraders trading space for location, since some larger apartments have corrected more than smaller units in certain cities.
• Long-term holders who care more about suitability and rental potential than short-term market swings.

What to expect the next few months

This two-month snapshot points to a market that’s cooling, not collapsing. Supply is rising in some cities and falling in others, while prices move differently by bedroom count.

For buyers, the best approach is simple: narrow your target area, track comparable listings, and be ready to act when the right home appears at a fair price.

The main change right now is confidence. Buyers can ask harder questions, request clearer documentation, and negotiate without feeling they’re wasting everyone’s time. In a market like Cyprus, that shift can be worth as much as any percentage point.

Turn today’s trend into a smarter purchase: Chris Michael Property Group can help you compare listings, spot fair value, and negotiate confidently in your target city. Explore options at chris-michael.com.cy or call +357 25313135 to get a shortlist and book viewings.