Exploring the finest cities in Cyprus for luxury homes

In recent years, Cyprus has emerged as a sought-after destination for luxury real estate. From lavish beachfront villas to elegant apartments with breathtaking views, Cyprus offers an array of options for those seeking a sophisticated and opulent lifestyle.  

There has been a slowdown in the sale of high-end residential properties since the termination of the Cyprus Investment Programme (CIP) on 1 November 2020, but 2022 has seen a partial recovery in this segment according to PwC with a total of 220 transactions of residential properties over the value of €1.5m (RXXm) being observed, representing 36% YoY growth.  

Here we look at the most sought-after cities in Cyprus and what they can offer those seeking luxury-style living:  

Limassol 

According to PwC, the Limassol district dominates the high-end residential market share when it comes to property transactions on the island. Known as the cosmopolitan hub of Cyprus, Limassol is a thriving city that offers a perfect blend of modernity and cultural heritage. With its vibrant nightlife, upscale restaurants, and high-end shopping districts, Limassol attracts those who appreciate a luxurious lifestyle. The city boasts an impressive selection of luxury homes, including beachfront villas, penthouses, and gated communities. 

Nicosia 

As the capital city of Cyprus, Nicosia combines historical charm with contemporary sophistication. The city’s upscale neighborhoods, such as Egkomi and Strovolos, are home to stunning luxury residences. With their exquisite architecture, private gardens, and state-of-the-art amenities, these properties exemplify elegance and refinement. 

Paphos 

Paphos, a coastal city renowned for its archaeological treasures and picturesque landscapes, also presents a fantastic opportunity for luxury property seekers. From opulent villas overlooking the Mediterranean Sea to stylish apartments nestled amidst lush greenery, Paphos offers an idyllic setting for luxurious living.  

Protaras 

Situated on the eastern coast of Cyprus, Protaras boasts some of the most stunning beaches on the island. This is an up-and-coming resort town, which has witnessed significant growth in luxury real estate development in recent years. The area is adorned with exclusive villas and high-end apartments, often featuring private pools, panoramic sea views, and easy access to pristine beaches. 

Larnaca 

With its international airport and vibrant city center, Larnaca serves as a popular entry point for many visitors to Cyprus. This coastal city has seen an increase in luxury property development, offering discerning buyers an array of choices. From luxurious penthouses to beachfront mansions, Larnaca’s real estate market has embraced the demand for high-end living.  

Whether you seek a lavish beachfront villa in Limassol, a sophisticated apartment in Nicosia, or a private retreat in Paphos, the cities of Cyprus offer an enticing range of luxury homes to suit various tastes.  

To find your dream residence, source the expertise of local real estate professionals, or contact international real estates specialists like Elit Blue (an associate of Savills in Cyprus) and Sotheby’s International Realty. You could also utilise specialist property listing platforms like Rightmove to find the right home for you or residence and citizenship by investment specialists like Henley & Partners.  

Researching property options and evaluating the market is a must as well. Europe is, after all, still suffering from the affects of inflation which have impacted the cost of materials. Any new builds should be approached with caution as they could be subject to price increases if inflation is not brought under control.