This section looks at property prices in the five districts of the Republic (2006)

Famagusta (Ammochostos)

Property prices in the main areas of interest to foreign buyers rose by around 30 per cent in 2004 but now appear to have stabilised. Average prices in the two principal resorts are shown below.

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 CY£150,000 and CY£200,000). Nevertheless, most property is still far cheaper than in most other parts of the island. The table below shows average prices (in CY£) in the Larnaca district.

Limassol (Lemesos)

The table below shows average prices (in CY£) 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.

Nicosia (Lefkosia)

In the old city centre, a two-bedroom semi-detached house costs around CY£50,000, a semi-detached, 3-4-bedroom house around CY£90,000. 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 CY£50,000 for a one-bedroom apartment to around CY£100,000 for a three-bedroom house. The table below shows average prices (in CY£) in the area surrounding Nicosia city.

Paphos (Pafos)

The table below shows average prices (in CY£) 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. At the end of 2004, two- and three-bedroom apartments were selling for between CY£200,000 and CY£300,000, townhouses for around CY£400,000 and three-bedroom villas for between CY£500,000 and CY£600,000.