A growing regulatory vacuum in the Cyprus property sector is allowing 'rogue' management firms to collect millions in fees with almost zero accountability, according to industry stakeholders. The issue has reached a boiling point as government legislation designed to overhaul the management of jointly-owned buildings remains gridlocked in Parliament nearly three years after its inception. Interior...
The Republic of Cyprus started the first quarter of 2026 on solid financial footing, recording a general government surplus of €573.3 million. According to preliminary data released Monday by the Cyprus Statistical Service (Cystat), this balance represents 1.5% of the nation’s GDP, reflecting a stable fiscal environment despite a marginal dip from the 1.6% surplus (€600.6 million) seen during the...
The battle over the Republic’s foreclosure and insolvency framework has reached the highest judicial level, with the Supreme Constitutional Court of Cyprus set to begin hearings this Wednesday. President Nikos Christodoulides has formally referred four controversial legislative amendments to the court, arguing they may violate fundamental constitutional safeguards and disrupt the nation's financial...
In a comprehensive written statement marking Labor Day 2026, President Nikos Christodoulides delivered a balance sheet of his administration’s labor policies, emphasizing a shift from raw economic growth to social prosperity. The President’s message focused on three pillars: boosting disposable income, reinforcing the social safety net, and securing the long term sustainability of the pension...
After a challenging first quarter marked by continuous decline, the Cypriot economy showed signs of stabilization this month. According to the April 2026 Economic Sentiment Survey released by the Economics Research Centre of the University of Cyprus (CypERC), the Economic Sentiment Indicator (ESI) climbed by 2.1 points compared to March. While the uptick provides a reprieve, experts noted that the index...
Data released by the Central Bank of Cyprus (CBC) reveals a period of relative calm for the island's banking sector in February 2026. Interest rates for both savings and mortgages remained largely stable just weeks before the outbreak of regional conflict and the European Central Bank’s (ECB) decision to pause rate hikes. Market analysts suggest this stability provided a brief window of predictability...
In the wake of recent structural issues in the Limassol district, the Real Estate Development Association (SAA) has emphasized the importance of finalizing a modern legal framework for communal properties. The association is advocating for the swift passage of the 'Management of Shared Buildings and Related Issues Law,' viewing it as a critical step toward ensuring long-term safety and structural integrity...
In a proactive move to safeguard the island’s most precious resource, the Government of Cyprus has introduced a landmark legislative package designed to bring existing water infrastructure into a modern, regulated framework. The 'Integrated Water Management Law' of 2026 offers a path toward legitimacy for thousands of unlicensed wells and boreholes, transforming a long-standing challenge into an...
In a move to preserve the historic character of Limassol’s Old Port while supporting local commerce, the Limassol District Local Government Organization (EOA) Aesthetic Control Committee conducted a specialized site visit on Wednesday. The inspection was designed to break the deadlock on pending planning permits and establish a streamlined licensing process for businesses in the area. Working in tandem...
New data released by the Central Bank of Cyprus (CBC) reveals the massive scale of debt currently sitting outside the traditional banking system. As of December 31, 2025, Credit Acquisition Companies (CACs) held a total of €19.35 billion in loans, with a staggering 94% classified as non performing loans (NPLs). This semi-annual report is part of a transparency initiative by the CBC to provide a clearer...
