Paphos is no longer just a postcard-perfect destination — it’s now one of Cyprus’ hottest real estate hubs. In 2024, property transactions in the district reached a record-breaking €1.19 billion across 4,853 deals, a figure that soars nearly 30% above pre-COVID highs. And this isn't just domestic buzz: foreign buyers now dominate, especially when it comes to new-build apartments, shifting the...
Cyprus' real estate sector is off to a booming start in 2025, logging property transfers worth more than €1.1 billion in just the first quarter of the year. According to figures from the Department of Lands and Surveys, a total of 4,137 sale contracts were submitted between January and March—marking a 15% increase from the 3,597 contracts filed during the same period in 2024. Strong Demand Powers...
Cyprus closed out the first quarter of 2025 on a strong fiscal note, reporting a budget surplus of €580.6 million, which equals 1.6% of GDP, according to preliminary data from the Statistical Service of Cyprus. This is a modest rise from the €575.7 million surplus (1.7% of GDP) recorded during the same period in 2024. What’s Behind the Boost? The surge in government revenue during Q1 was largely...
Cyprus' economic outlook remained on an upward path in March 2025, with the Cyprus Composite Leading Economic Index (CCLEI)—developed by the University of Cyprus' Economics Research Centre (CypERC)—continuing its positive trend. However, the pace of annual growth saw a slight cooldown. Growth Slows, But Stays Positive The annual expansion rate of the CCLEI slowed to 1.7% in March, a step down from...
Larnaca has emerged as the most favored European destination for baby boomers, according to a newly published survey by global travel company TUI. A Hit Among Older Travellers The ranking, shared this week on TUI’s official website, is based on reviews left by travellers aged 65 and above, a group the company says is now playing a key role in shaping tourism trends across Europe. In total, the list...
The Cypriot economy continued to show positive signs in March 2025, driven by stronger real estate activity and retail sales, according to the latest data from the Cyprus Composite Leading Economic Index (CCLEI), compiled by the University of Cyprus' Economics Research Centre (CypERC). Growth Persists, but Slows Although the CCLEI maintained its upward trend, the annual growth rate eased to 1.7% in...
The Cyprus real estate sector kicked off 2025 with impressive momentum, showing solid gains in both transaction volumes and property values, according to the latest report from the Cyprus Real Estate Agents Registration Council. International Buyers Show Growing Interest The Council’s report highlights that Paphos has become a hotspot for international buyers, while Limassol continues to maintain its...
Cyprus’ economy showed solid momentum in 2024, with its Gross Domestic Product (GDP) climbing to €33.57 billion at current market prices, according to the latest data from the Cyprus Statistical Service. The updated National Accounts, which now reflect adjustments from the Balance of Payments (BOP) and Government Finance Statistics (GFS), also introduced a shift in the base year for calculating volume...
Cyprus' real estate sector stayed resilient through 2024, continuing to fuel the country’s economy even in the face of multiple economic and geopolitical headwinds. According to a press release by the Real Estate Agents Registration Council, property activity held steady compared to 2023, with some regions even seeing notable shifts in performance. The Big Picture: Slight Upticks, Some Drops Over the...
The Cypriot government has rolled out a new initiative aimed at tackling both urban decay and the housing crisis—the "Renovate-Rent" Scheme, launched by the Ministry of Interior. The scheme offers property owners financial aid of up to €35,000 to refurbish empty homes, with one key condition: they must rent them to low- or middle-income tenants at affordable rates. How It Works Starting from...
