Police arrested a 40-year-old man in connection with the murder on Monday at Oikos village, Nicosia.
The man was found later with 1.500 euro cash in his possession, which had blood on them.
The incident happened yesterday afternoon, while the woman was driving home to Oikos to have lunch, during her break from the grocery story where she was working in Kalopanayiotis village.
In the car, there was also another woman sitting in the passenger side, and the 40-year-old suspect – a local winery employee – who was sitting in the back. Police sources say that both the passengers seem to have been acquaintances of the victim.
According to information, the other woman got off in a village near Oikos, while the suspect remained sat behind as he would have gotten off in about 300 metres.
Under conditions which are being investigated, a woman heard the victim screaming for help and when she got near the car she saw a man running to escape.
Another village resident, got in the car and found the woman with multiple stab wounds on her body and neck and a knife next to her.
Police arrived at the scene and started interviewing residents of the village. The woman who got off the car shortly before the murder, led the police to the suspect.
He was found with 1.500 euro cash in his possession which had blood on them. The knife seems to have been bought from a souvenir shop in Kalopanayiotis on Monday morning.
An arrest warrant was issued late on Monday against the man.
He will be led to court on Tuesday.
Police are investigating whether the murder was premeditated.