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Managing Director
The Man Behind G&P Lazarou Estate Agents
With more than 33 years in the Cypriot property market, Petros set the standards our consultants work to every day. Message him directly: he will either point you to the right person for your property, or take it on himself.
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What We Offer
Explore a curated range of properties across premier locations, from coastal villas and suburban homes to city apartments, executive offices, and development land. We help you identify the right opportunities, shortlist your options, and negotiate the best possible terms.
With 33 years of market leadership, we position your property for maximum return. From accurate valuation and strategic pricing to targeted marketing campaigns and access to our extensive buyer network, we ensure maximum exposure and the best possible sale price.
Discover a wide range of verified residential and commercial rental properties, from modern city apartments and family homes to executive office spaces. We simplify your search, assist with contract negotiations, and ensure a seamless rental process from viewing to move-in.
Selling real estate online is an honest and fully transparent process for both the seller and the bidder. G&P Lazarou's online auction platform makes the whole process quick and easy.
Our office provides comprehensive support for the Cyprus Permanent Residency by Investment framework. We assist international clients with property selection and legal coordination. Our goal is to help you obtain residency efficiently. Our specialized Cyprus real estate services focus on enhancing the long-term value of your investment.
With decades of experience in property valuations, we know exactly how to determine the true market value of your asset. Our specialized consultants, provided in cooperation with G&P Lazarou Property Valuation, provide reliable and fully documented appraisals, so you can make informed decisions when selling, buying or investing in real estate.
We support companies with relocation and property-related decisions. Our team can assist you in finding office space and handling property management.
Additionally, we provide guidance on:
If you are planning to build your own home, we can support you from concept to completion. Through close collaboration with reputable developers, we help you identify the right plot. In addition, we proudly act as your project manager to coordinate the full construction process for your new villa or business premises.
About Us
G&P Lazarou Estate Agents was established in 1993 as a two-person office in Nicosia and has grown into one of Cyprus's most trusted estate agencies with offices across the island.
3 offices, 70+ property consultants, 430+ partner developers and AI-powered property search across Cyprus.
Launch of our online property auction platform.
Partnerships with 250 developers and a team of 25 property consultants.
Opening of our Limassol office (April) and Larnaca office (September).
Opening of our Nicosia office (April).
Blog & News
Almost every week, an investor sits across the table from us and asks the same question: where should I buy? Most of them arrive with a budget and a list of properties. Fewer arrive with a view on the area itself. Yet over the years, the location tends to decide far more of the return than the kitchen, the finishes or even the price paid.So what separates an area that rewards investors from one that just looks good on a listing?People need a reason to live thereRental demand doesn’t appear on its own. It follows jobs, studies and services. Areas close to major employers, business districts, universities and hospitals tend to have a steady flow of tenants, because people want to live near where they spend their day.In Nicosia, for example, the streets around universities attract students and academic staff year after year. Areas near government offices and banks draw professionals. In Limassol, international companies have created strong demand from relocating employees.The key question to ask about any area is: who will rent here, and why?More than one source of demandAn area that depends on a single source of tenants carries more risk. If a large employer relocates, a university shrinks or tourism has a bad season, rental demand can drop quickly.The most resilient areas attract a mix of tenants: students, families, professionals and retirees. When one group slows down, the others keep the market moving.Infrastructure and what’s coming nextNew roads, improved public spaces, schools, shopping centres and business developments can change how desirable an area is. Investors who understand what is planned, not just what exists today, often see the benefit over time.Be careful to tell the difference between a project that has been approved and funded and one that has only been talked about. Many promised developments take years longer than expected, and some never happen. Buy on the basis of what is reasonably certain, not on rumour.Planning policy mattersChanges to local plans can shift values in either direction. An increase in permitted building density can add value to land and older properties. A new restriction can limit future potential.For investors interested in plots or older houses, knowing the planning zone and any expected changes is essential.Watch the supply pipelineStrong demand is only half of the picture. If dozens of new apartment blocks are being built in the same area at the same time, new tenants and buyers will have plenty of choice. That can put pressure on rents and resale prices.Before buying, look around. Count the cranes, check what projects are under way and think about how your property will compare with what’s coming onto the market.Rent, price and resaleA good investment area offers a sensible relationship between purchase price and achievable rent. Very high prices with modest rents leave little room for return. Very low prices may reflect weak demand or other problems.Also think about the day you’ll want to sell. Areas with a deep pool of buyers, both owner-occupiers and investors, tend to be easier to exit when the time comes.Everyday quality of lifeTenants and buyers still choose places where life is easy. Supermarkets, cafés, parks, schools, parking and safe streets all count. An area people enjoy living in usually holds its appeal through market cycles.Do your homeworkBefore committing, visit at different times of day, talk to people who live there and compare actual rents and sale prices, not just advertised figures. Speak to a lawyer about the property itself and to an accountant about how rental income will be taxed.If you’re looking for an investment property, G&P Lazarou Estate Agents can help you compare areas, rental demand and opportunities across Cyprus. Call +357 22024949, email info@gplazarou.com or visit gplazarou.com.Discover available houses for sale in CyprusView residential plots for sale in CyprusExplore modern apartments for sale in CyprusBrowse commercial properties for sale in CyprusDiscover available houses for rent in CyprusExplore modern apartments for rent in CyprusView residential plots for rent in CyprusBrowse commercial properties for rent in Cyprus
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Nicosia recorded more property transactions in 2025 than any other district in Cyprus. Over the same period, home prices in the capital rose by less than inflation. These two facts sit at the heart of “Nicosia Property Market 2026”, the market analysis presented by G&P Lazarou Estate Agents on Tuesday 20 October 2026 at our head office, Nicosia Office, Athalassas Avenue 174, 2025 Strovolos, to property developers.The analysis was presented by Andreas Markides, ACA, Head of Investments at G&P Lazarou. It brings together transaction data from AskWire, official figures from the Department of Lands and Surveys, the Central Bank of Cyprus, the Statistical Service (CYSTAT) and Eurostat, and a count of properties currently listed for sale in Nicosia.Here are the main findings:2020–2025: a market that grew in volume, not in priceNicosia recorded 7,911 transaction registrations in 2025. That figure was ahead of Limassol’s 7,715, 10.4% higher than in 2024 and 42% higher than in 2020. Limassol still leads by value, though. The average value per registration in Nicosia was about €161,000, compared with roughly €363,000 in Limassol.New-build apartments drove much of this growth. Sales rose from 799 in 2020 to 1,999 in 2025, an increase of 150%, while resales stayed almost flat. House sales also grew strongly, from 763 to 1,204. Yet the average declared value of a house in 2025, around €238,000, was the same as in 2020.Nicosia is also the most affordable of the major markets. In 2025, 87% of apartment and house sales in the district were below €300,000, compared with 72% across Cyprus.Prices did rise, but slowly. Home prices in Nicosia increased by about 10% since 2020, while consumer prices rose 18.5% and construction materials around 35%. In real terms, that leaves Nicosia home prices roughly 7% lower than in 2020.The picture varies by area. Typical resale apartment prices per weighted square metre rose by about 20% in Lakatamia and 18% in Engomi, but less than 2% in Strovolos.Land stands out. The median price of plots in Nicosia was about €265 per buildable square metre in 2025, around 5% lower than in 2020. In Limassol, Larnaca and Paphos, the equivalent figure rose by roughly 36%.Nicosia also leads the island’s office market by number of sales. In 2025, 88 of the 160 office sales in Cyprus, or 55%, were in Nicosia.2026: local buyers and more expensive moneyActivity has paused rather than reversed. Registrations in Nicosia from January to August 2026 were 3.4% lower than a year earlier. Sales contracts deposited with the Land Registry still rose 5.6%, although that was the slowest growth of any district (Cyprus overall: +13.7%).Nicosia is the most local market on the island. From January to July 2026, 84% of sales contracts in the district were signed by Cypriot buyers. Foreign buyers accounted for under 16%, compared with almost 70% in Paphos. Demand in the capital therefore depends mainly on local incomes and bank lending.That makes financing a key variable. The average rate on new housing loans in Cyprus was 3.24% in July 2026, below the eurozone average of 3.54%. After two increases by the European Central Bank this year, the deposit rate stands at 2.50%. Bank lending criteria, however, remained unchanged in the second quarter of 2026.Development activity is picking up again. In the first eight months of 2026, 92 land-for-development (antiparochi) contracts were registered in Nicosia, compared with 61 in the whole of 2025.What is available todayOn 16 October 2026, the analysis counted 8,368 properties listed for sale in Nicosia across five portfolios: G&P Lazarou, REMU, Altia, Altamira and GoGordian. Their combined asking value was around €2.9 billion.The four institutional portfolios held 1,557 listings worth about €539 million. Around 65% of that value is land, mostly fields rather than ready-to-build plots, and only 44 listings are apartments. Most modern apartments on the market today are new builds.Comparing current stock with monthly transactions in 2025 gives an indication of how quickly the market could absorb it. The figure is roughly 11.5 months for apartments, around 8 months for houses and about 21 months for plots.What they said“Nicosia has grown in volume, but its prices have risen by less than inflation. It is the most local market in Cyprus: it depends on the incomes and borrowing of Cypriot buyers, not on foreign capital. That is why the question for 2027 is not prices, but whether the market can absorb what is coming,” said Andreas Markides, ACA, Head of Investments at G&P Lazarou.“We are bringing to the table data that is rarely found in one place: transactions, available stock and our own listings. We want decisions in the Nicosia market to be based on numbers, not impressions,” said Petros Lazarou, Founder and Managing Director of G&P Lazarou Estate Agents.2027: a question of absorption, not priceThe analysis does not forecast prices. It identifies the question that will shape the year ahead: can a market of mainly local buyers absorb the new supply that is coming, at a time of higher costs and more expensive borrowing?Supply is rising. Residential units in building permits across Cyprus increased by 43% in 2025 and 68% in the first half of 2026. Construction costs remain high, and many building companies report labour shortages as their main constraint.G&P Lazarou is watching four indicators to see which way the market moves:Mortgage rates. A move towards 3% would support demand. A rise above 4% would point to a more cautious year.Sales contracts in Nicosia. A return to double-digit growth would be positive. An annual decline would be a warning sign.Absorption of new builds. Falling months of stock would be encouraging. Completed apartments remaining unsold would not.Institutional land. Usable plots coming to market and selling would be positive. Land selling at a discount, with plot prices falling, would point the other way.About the dataTransaction figures are AskWire registrations, which include all transaction types and are not unique properties. Prices per square metre are medians from filtered samples and use weighted area, not internal floor area. Stock figures are public listings at asking prices on 16 October 2026, not valuations. All figures were correct as of mid-October 2026 and will change over time.Download the full presentation “Nicosia Property Market 2026” (PDF)To discuss what the findings mean for your property, investment or development, contact G&P Lazarou Estate Agents at +357 22 024949 or sales@gplazarou.com. For a property-specific opinion of value, see our property valuation services.
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The family home is often the hardest part of an estate to deal with. It holds memories, it may have been in the family for decades, and suddenly several people have a say in what happens to it. Some want to sell quickly, some want to keep it, and others simply aren’t sure.Selling an inherited property is rarely just a property transaction. There are legal steps to complete first, people to agree, and practical questions about the house itself. Knowing what lies ahead makes the process far less stressful.First, the estate needs to be in orderAn inherited property can’t simply be listed the day after a loss. In Cyprus, the estate of the deceased is usually handled by an administrator or executor appointed through the court. Until that’s done, nobody has the authority to sell.Once the administration is in place, there are generally two routes. The property can be transferred into the names of the heirs, who then sell it themselves. Alternatively, the administrator can sell it as part of the estate. Which route makes more sense depends on the family’s situation, and your lawyer should guide you on this from the start.Getting all the heirs on the same pageWhen a property passes to more than one person, every co-owner usually needs to agree to the sale and to the price. This is where many inherited sales get stuck. One sibling lives abroad, another wants to keep the house, a third needs the money now.A few things help:An independent valuation. It gives everyone the same, neutral starting point, instead of each person relying on their own expectations.Clear communication. Agree early on who will deal with the agent, the lawyer and viewings.Practical arrangements for heirs abroad. A power of attorney can allow a family member or lawyer to sign on their behalf, avoiding repeated trips.If agreement can’t be reached, the matter may end up in court. That is usually slower and more expensive for everyone, so it’s worth working hard to avoid it.Older properties often come with older paperworkMany inherited homes were built decades ago, and the documents don’t always reflect what’s on the ground. Before going to market, check that:There is a valid title deed for the property.Extensions, enclosed verandas or additional rooms were properly permitted.There are no mortgages or other charges still registered.Sorting these issues out before you list saves time, and it avoids losing a buyer halfway through the sale.Think about tax earlyCyprus does not have inheritance tax. Selling the property, however, can have tax implications. The value of the property at the date of death can be important when calculating any tax due on a later sale, which is another reason a proper valuation is useful. Speak to an accountant or tax adviser before agreeing a sale, not after.Prepare the house for the marketAn inherited home is often full of furniture and belongings, and it may not have been updated for years. You don’t need to renovate, but clearing it out, cleaning thoroughly and carrying out small repairs can make a real difference to how buyers see it. If it has been empty for a while, check for damp, leaks and anything that needs attention before viewings start.If the property has a tenant, find out the terms of the tenancy, as this can affect both the sale process and the price.Take the time you need, within reasonThere’s no need to rush a decision you may regret. Leaving a property empty for years, though, brings its own costs: maintenance, security and gradual deterioration. Setting a realistic timeframe as a family usually helps everyone move forward.If you’re dealing with an inherited property, G&P Lazarou Estate Agents can guide you through the sale and work alongside your lawyer and accountant. Call +357 22024949, email info@gplazarou.com or visit gplazarou.com.Discover available houses for sale in CyprusView residential plots for sale in CyprusExplore modern apartments for sale in CyprusBrowse commercial properties for sale in CyprusDiscover available houses for rent in CyprusExplore modern apartments for rent in CyprusView residential plots for rent in CyprusBrowse commercial properties for rent in Cyprus
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