Paphos Market Review, 2023 to August 2026

Allora analysed every recorded property transaction in the Paphos district from January 2023 to August 2026. The market grew in each of the three years, and growth is still increasing in 2026: sales value, deal count, land contracts and new-build unit contracts all rose.

In 2026 the market moved in two directions:

1. Developers bought more land than in any previous year, mostly in the strongest locations.
2. The premium segment grew faster than the rest of the market.

Market size and growth

We compare 12-month periods from September to August, which gives a like-for-like result for 2026. In the 12 months to August 2026, Paphos recorded €1,908.0M of sales, +32.9% on the previous 12 months, across 5,453 transactions (+18.7%), a record.

Title transfers grew strongly in 2024 and held steady in 2025. New-build unit contracts grew in both years, and at the 2026 pace the annual total will again be higher than in 2025. “Other contracts filed as land” are mostly two-storey houses and development rights.

Land: the main change of 2026

Land contracts are the largest change in the Paphos market this year.

• In the first seven months of 2026, buyers signed land contracts worth €242.0M across 513 deals. In all of 2025, the total was €100.0M across 282 deals.
• At the 2026 pace, the annual land total is about three times the 2025 total.
• 17 land contracts in 2026 are above €2M, with a combined value of €59.0M. In all of 2025, only 3 were.

The resale land market is larger than the market for new land contracts, and resale land prices have been flat or slightly lower since 2024. The median price per square metre of new land contracts rose sharply in 2026, but that is a location effect: developers bought well-located plots around Paphos town, Pegeia and Geroskipou.

New-build units

• Villas give most of the value: 54.2% of unit contract value.
• Apartments give most of the volume. Apartment contracts roughly doubled between 2023 and 2025.

The market is dividing in two. The number of smaller units is rising while prices at the top rise quickly. The median unit contract fell to €300k in 2026 because more small units were registered, not because of more apartments. The average unit contract kept rising:

In 2026 so far there are 30 unit contracts above €2M, against 16 in all of 2025.

Momentum and the top of the market

The second quarter of 2026 set a record: €612.0M across 1,707 deals, the strongest quarter in the three years of data.

From 2023 to August 2026, 219 deals were €2M or more, and 50 were €4M or more.

Where the money goes

Paphos town and Pegeia together account for more than half of the district’s sales value.

What this means for investors

1. Land in strong locations is becoming scarce. If you plan a development in Paphos, the chance to buy a good plot at a reasonable price is shrinking.
2. Location matters more than entry price. Low-cost land stays low-cost. Prices rise where developers build.
3. The premium segment is liquid. Demand above €2M is growing faster than the market, which makes an exit from a premium project easier.
4. New supply arrives in two to three years. When it does, projects with a strong location and a well-planned product will be in the strongest position.

Our view

In three years, annual sales value in Paphos has almost doubled, from €952.0M in 2023 to a pace of about €1.9bn in 2026. The market is changing faster than many investors make decisions. Now is a good time to examine your goals and your numbers, so you are ready when the right property comes up.

To discuss Paphos for your goals, or to look at a specific plot, contact the Allora team.