Cyprus began the 2026 fiscal year with a significant budget cushion, as the general government recorded a surplus of €538.8 million for the month of January. While the figure represents a slight dip from the €569.3 million surplus seen during the same month last year, it remains a robust 1.5% of the national GDP. According to the Statistical Service of Cyprus (Cystat), this performance was driven by a...
Construction activity across the island reached new heights during the first eleven months of 2025, as high density residential projects became the primary engine of economic growth. Fresh data from the Cyprus Statistical Service (Cystat), published on March 13, 2026, reveals that the total floor area authorized for new developments surged by 35.3%, totaling nearly 2.95 million square meters. The...
In a major move to bolster borrower protections, the House Commerce Committee has advanced two pivotal bills designed to eliminate "unfair clauses" from mortgage agreements. The legislative push, finalized on Tuesday, March 10, 2026, aims to provide a more robust legal framework for consumers who find themselves at a disadvantage when dealing with powerful financial institutions. The decision to move...
In a major move to bolster borrower protections, the House Commerce Committee has advanced two pivotal bills designed to eliminate unfair clauses from mortgage agreements. The legislative push, finalized on Tuesday, March 10, 2026, aims to provide a more robust legal framework for consumers who find themselves at a disadvantage when dealing with powerful financial institutions. The decision to move these...
Highlighting a message of stability amidst regional volatility, Cyprus Finance Minister Makis Keravnos informed his European counterparts on Tuesday that the island remains a secure and functional destination. Speaking as he arrived to chair the EU Economic and Financial Affairs Council (ECOFIN), Keravnos confirmed that despite the ongoing conflict involving Iran, "life in Cyprus is running smoothly and...
While the broader European economy experienced a period of stagnation at the close of 2025, Cyprus emerged as a primary engine of growth for the region. According to the latest data from Eurostat, the European Union and the Eurozone both posted a marginal quarterly GDP increase of just 0.2%. In contrast, Cyprus delivered a robust 1.4% expansion for the same period. The island’s performance was...
The Cypriot industrial sector maintained its upward trajectory throughout 2025, concluding the year with a robust 5% annual growth in its total turnover. Fresh data from the Statistical Service of Cyprus (Cystat) indicates that the Industrial Turnover Index reached 139.8 points in December, a nearly 5% jump compared to the same month in 2024. This sustained expansion reflects a resilient industrial base...
While local Cypriot buyers remain the backbone of the property market by volume, a deep-dive analysis of February 2026 sales reveals a dramatic shift toward international dominance in the coastal districts. According to the latest Department of Lands and Surveys data, total sales rose 11% year on year, but the real story lies in the distinct behavior of different buyer segments as they navigate a landscape...
The Cypriot real estate sector has defied escalating geopolitical volatility, posting an 11% increase in sales contracts for February 2026. Data released by the Department of Lands & Surveys on March 4, 2026, reveals that 1,537 purchase agreements were filed during the month, bringing the market to its highest February volume since the 2008 peak. This growth comes at a critical juncture, as the island...
As the rental markets in Limassol and Larnaca reach new peaks of competitiveness in 2026, navigating the landscape requires more than just a high budget. A comprehensive new report highlights that understanding the legal nuances of tenancy agreements, deposit protections, and a landmark shift toward cashless payments is now the only way for residents to secure their homes safely. With a major tax reform...
