Cyprus has become a highly sought-after destination in recent years for buying property—both among investors and among families looking for an alternative home or a permanent vacation base abroad. Its proximity to Israel, real estate prices that are still relatively affordable compared to much of Europe, and a tax system considered friendly to foreign buyers all make the island an appealing opportunity.
But the question everyone asks is: how much does an apartment in Cyprus cost in 2025?
In this guide, we’ll provide an up-to-date overview of prices by city, explain the differences between new-build and resale apartments, and break down the financial factors that should shape your decision.
Apartment Prices in Cyprus in 2025 by City
To understand Cyprus’ real estate market, you have to start with geography. Each city has a different character—from beachfront resort towns to business and administrative centers. Prices vary based on demand, distance to the sea, infrastructure, and future development.
Limassol
The most expensive city on the island. New apartments in the city center or near the seafront typically start around €220,000–€250,000, and luxury properties can reach €1.5 million and beyond. Limassol is a preferred choice for investors targeting strong short-term rental demand.
Paphos
A more affordable option with steady demand. New apartments usually start around €160,000–€180,000, while resale apartments can be found for under €150,000. Paphos is especially popular with retirees and families looking for a quieter lifestyle with easy access to tourism and services.
Larnaca
Often seen as the “balance” city—good accessibility at a moderate price point. Typical apartment prices range from €170,000–€220,000. Proximity to the international airport makes Larnaca particularly attractive for rentals.
Nicosia
Cyprus’ political and business capital. Less tourism-driven, but it offers a stable long-term rental market for professionals and students. Average prices for standard apartments are €150,000–€200,000.
Key takeaway: In 2025, apartment prices in Cyprus are heavily influenced by location and proximity to tourism hotspots. Limassol is priced higher because it’s the island’s financial and lifestyle hub, while Paphos and Larnaca provide a more accessible entry point.
New vs. Resale: Which One Actually Makes More Sense?
One of the most important distinctions in Cyprus real estate is the difference between new-build properties and resale properties. The price gap—and the overall deal structure—can be significant, so it’s worth understanding both sides.
New-build apartments
- Include VAT at 19%, though in some cases a reduced 5% VAT may apply for a primary residence (subject to conditions).
- Built to modern standards with updated layouts, new A/C systems, and contemporary infrastructure.
- Often aligned with Permanent Residency (PR) requirements—typically involving a new property valued at €300,000+ (before VAT).
- Usually priced 15%–25% higher than comparable resale apartments in the same area.
Resale apartments
- Generally not subject to VAT, which can make the final cost meaningfully lower.
- Wider selection—sometimes in prime locations that are already fully developed.
- May require renovation, upgrades, or re-furnishing.
- Often less relevant for PR pathways, but can be ideal for investors seeking immediate rental income.
Bottom line: If you want the fastest and most affordable entry into the market, resale is often the better fit. If you’re aiming for PR eligibility or prefer a brand-new property with modern standards, a new-build may justify the higher price.
Additional Costs Most Buyers Forget
When people ask “how much does an apartment cost in Cyprus,” they usually mean the purchase price. In reality, there are additional expenses that can add tens of thousands of euros to your budget. Ignoring them can lead to unpleasant surprises after signing.
Transfer fees and taxes
Cyprus charges Transfer Fees that may reach 3%–8%, depending on the property value. New-builds also include VAT unless you qualify for the reduced 5% rate for a first residence.
Legal fees
A local lawyer is essential. They verify the Title Deeds, confirm ownership, and check that the property is free of liens and restrictions. Costs typically run around 1%–2% of the transaction value.
Maintenance and management fees
In modern developments with pools, gyms, or shared facilities, annual maintenance fees can range from €600 to €1,500, depending on the project and apartment size.
Furnishing and renovation
Resale apartments often require additional spend—anywhere from €5,000 for basic furnishing to tens of thousands for full upgrades.
Other fees
You may also need to account for agency fees (often 3%–5%), building and contents insurance, and financing costs if you’re using a mortgage.
That’s why it’s important to calculate the Total Cost of Ownership—not just the headline price, but everything that comes with it.
How Much Does It Cost to Rent an Apartment in Cyprus?
Not everyone is looking to buy. Many are also interested in rental costs—either for temporary living or as an investment income indicator. Cyprus’ rental market is strongly influenced by tourism and seasonality.
Long-term rentals
- Paphos: €600–€800/month for a 2-bedroom apartment; larger units around €1,000–€1,200
- Larnaca: typically €700–€1,300 depending on location and whether it’s new-build
- Limassol: €1,200–€1,600/month for a 2-bedroom near the sea; luxury units can exceed €2,500
- Nicosia: usually €500–€900/month for standard apartments
Short-term rentals (Airbnb / holiday lets)
In peak tourist seasons—especially summer—rates rise significantly. A holiday apartment in Paphos or Limassol can generate €80–€150 per night, depending on the property and location.
What this means for investors: You can choose between long-term rentals for stability, or short-term rentals for higher upside—while accepting more management complexity.
Rental Yields: What Can an Investor Expect?
The question “how much does an apartment cost in Cyprus” isn’t complete without understanding potential returns—both ongoing income and future appreciation.
Long-term rental yields
Average long-term gross yields in Cyprus often fall around 4%–6% per year. In more affordable cities like Paphos and Larnaca, it’s often easier to find a strong price-to-rent ratio.
Example: a €180,000 apartment rented at €750/month produces about €9,000/year—roughly 5% gross yield.
Short-term rental yields (Airbnb / holiday rentals)
In tourist-focused coastal cities such as Limassol and Paphos, yields can reach 6%–8%+, especially with strong summer occupancy.
However, short-term rentals come with additional costs: property management, cleaning, marketing, platform fees, and seasonal volatility.
Capital appreciation
In recent years, Cyprus has seen average annual growth of roughly 5%–8% in many areas, particularly coastal cities. Beyond rent, many investors also target medium- to long-term value growth.
Practical investor tip
Always calculate net yield, not just gross yield—after maintenance, fees, taxes, and management. A simple model:
- Total purchase cost: €200,000
- Annual gross rent: €12,000
- Annual expenses (maintenance/management): €2,000
- Net yield: (12,000 − 2,000) / 200,000 = 5%
Buying Property in Cyprus and Permanent Residency (PR)
Beyond financial returns, buying property in Cyprus can open additional opportunities—most notably Permanent Residency (PR).
PR requirements through property
- Purchase of a new-build property only, valued at at least €300,000 (before VAT)
- Funds must be transferred from outside Cyprus
- The property can be an apartment or a house, and in some cases multiple properties may qualify if the total meets the threshold
Key benefits of PR
- The right to stay in Cyprus long-term
- PR eligibility for immediate family (spouse and children up to age 25)
- Easier access to the local banking system and business setup
- Partial travel flexibility within Europe (depending on circumstances and destination)
Important notes
- Resale properties do not qualify for this PR pathway
- The process requires proper legal guidance and financial documentation
- Cyprus also has a citizenship route, but it’s separate, longer, and based on years of residence
Bottom line: For many buyers, the €300,000+ new-build threshold isn’t just a purchase decision—it can also define the legal pathway available to them.
South vs. North Cyprus: The Legal Reality You Must Understand
When discussing property prices in Cyprus, it’s critical to distinguish between the south (the Republic of Cyprus, an EU member state) and the north (the Turkish-controlled area, not internationally recognized in the same way).
South Cyprus: regulated and secure
- Operates under EU-aligned legal frameworks
- Clear property registration and Title Deeds
- PR pathway available via qualifying new-build purchases
- Stronger international legal recognition and financial stability
North Cyprus: lower prices, higher legal risk
- Prices can be much lower—sometimes €70,000–€100,000 for an apartment
- Ownership rights can be unclear, and some land is subject to international legal disputes
- Higher risk that future recognition, resale, or legal enforcement could be complicated
- Limited local bank financing and greater regulatory uncertainty
Bottom line: If you’re aiming for a stable and internationally recognized investment, most buyers focus on South Cyprus, even if the entry price is higher.
Practical Tips, Tools, and Real Scenarios for Buyers
After understanding the numbers, it’s time to plan practically.
Smart buying checklist
- Verify Title Deeds and ensure clean ownership
- Use an experienced local real estate lawyer
- Calculate total costs: taxes, legal fees, maintenance, furnishing, and renovations
- Confirm whether the property is new-build (PR-eligible) or resale (often cheaper)
- Evaluate rental potential: short-term vs. long-term based on the area
Example scenarios
- Investor in Paphos: buys a resale apartment for €160,000, rents long-term for €700/month, net yield ~4.5%
- Family in Larnaca: buys a new €320,000 apartment, qualifies for PR, near airport and international schools
- Investor in Limassol: buys a €500,000 luxury unit, targets strong summer short-term demand, potential 7%–8% yield
Practical tip: Build a personal model: purchase price + all costs vs. expected rental income. That’s how you know if the deal is truly right for you.
Want to Start Your Cyprus Journey with Full Confidence?
At Oasis Real Estate, we guide you step by step—from market research and opportunity analysis to choosing the right property, managing the legal process, and building a stable and profitable investment.
Every investment starts with a dream. Our job is to turn that dream into a clear, professional, and secure plan of action—supported by real research, transparency, and hands-on experience.
📞 Contact Oasis Real Estate today for personal guidance, additional information, and practical tools to help you make the right decision in Cyprus.
How Much Does an Apartment Cost in Cyprus? Frequently Asked Questions
What’s the price range for apartments in Cyprus in 2025?
Small resale apartments can be found around €140,000–€170,000, while new properties in central areas often start around €200,000 and can reach the millions in luxury developments.
Do prices differ between cities?
Yes. Limassol is typically the most expensive. Paphos is often more affordable. Larnaca offers balance, and Nicosia tends to be stable and less tourism-driven.
How much does it cost to rent an apartment in Cyprus?
Long-term rent varies by city: Paphos €600–€800/month, Larnaca €700–€1,200, Limassol €1,200–€1,600+, Nicosia €500–€900.
What’s the difference between buying new vs. resale?
New-builds are often 15%–25% higher and include VAT, but offer modern standards and may support PR eligibility. Resale is typically cheaper and VAT-free, but may require upgrades.
What additional costs should I budget for?
Transfer fees, legal fees, maintenance, agency fees, insurance, and sometimes furnishing/renovation.
Can foreigners get a local mortgage in Cyprus?
Yes, in many cases. Typically a 30%–40% down payment is required, and interest rates may be slightly higher than in Israel.
What rental yield can investors expect?
Long-term rentals often yield 4%–6% gross, while short-term rentals in tourist areas may reach 6%–8%+ depending on occupancy and management.
Can you get PR by buying property?
Yes—usually by purchasing a new-build property worth €300,000+ (before VAT). Resale properties don’t qualify for this route.
What’s the difference between South and North Cyprus for property purchases?
South Cyprus is regulated, EU-aligned, and legally secure. North Cyprus is cheaper but can involve serious legal and ownership risks.
Do you need a local lawyer?
Strongly recommended—to verify Title Deeds, confirm legal ownership, and protect you from liens or legal issues.
Is rental income taxed in Cyprus?
Yes, rental income is taxed under local income tax rules, though deductions and allowances may apply.
Are property prices rising in Cyprus?
In recent years, many areas—especially coastal cities—have seen steady growth. Trends depend on location and demand.
How long does the purchase process take?
Often 2–4 months, depending on legal checks, contract stages, and registration timing.
Is Cyprus a good long-term investment?
It can be—thanks to a relatively stable market, rental demand, and potential appreciation. As always, proper due diligence is essential.
