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...
As international trade tensions continue to rise and fears of a prolonged trade war loom, real estate is increasingly being viewed as a stable investment refuge, says Andreas Christophorides, CEO of Landbank Group. While global stock markets have felt the heat of economic uncertainty, the real estate sector has remained impressively steady. Christophorides suggests that this trend is unlikely to shift in...
Once known primarily for its sun-drenched beaches and laid-back island charm, Cyprus is now commanding global attention as a serious player in the luxury real estate market. Boasting over 300 days of sunshine a year, crystal-clear waters, and a lifestyle that blends modern convenience with Mediterranean calm, Cyprus is attracting high-net-worth individuals and savvy investors looking for more than just a...
Cyprus saw a healthy increase in tourist arrivals during the first quarter of 2025, despite a slight dip in March. According to the latest figures published by the Cyprus Statistical Service (CyStat) on Thursday, total tourist arrivals from January to March 2025 reached 446,596, reflecting a 7.5% year-on-year growth compared to the same period in 2024. March Sees Modest Drop While the overall quarterly...
Cyprus’ investment funds industry continues to thrive, with total assets under management now surpassing €9 billion. The announcement came during the Cyprus Investment Funds Association (CIFA)'s Annual General Meeting held on April 10, where the sector’s resilience and strategic growth were in the spotlight. Over 330 Licensed Funds Operating in Cyprus During the event, CIFA President Maria...
According to early estimates released by the Cyprus Statistical Service, residential property prices saw a modest decline in the final quarter of 2024. Quarterly Decline Signals Cooling Trend The House Prices Index fell by 1% in Q4 2024 compared to Q3—marking the sharpest quarterly drop since the tail-end of 2022. The index now stands at 112.47 points (with 2021 as the base year), highlighting a...
The construction sector in Cyprus continued its upward trend in 2024, with both output and producer prices seeing notable increases over the year, as per the latest figures published by the Statistical Service of Cyprus. Construction Output: Annual Growth Despite Q4 Dip Throughout 2024, the Construction Output Index climbed by 3.5% when compared to the full year of 2023. This reflects a steady boost in...
Cyprus’ real estate market made a bold leap forward in March 2025, with property sales jumping 19% compared to the same month last year. What’s more, every single district posted double-digit growth, showcasing strong demand across the board. District-by-District Highlights Paphos led the charge with a 32% rise in sales. Larnaca followed with 21% growth. Nicosia recorded an 18%...
