State execution of the national budget has moved at a steady clip through the first five months of the year, with infrastructure and development projects picking up notable speed. According to fresh data published by the Treasury on Monday, Cyprus’s budget execution rate for development expenditures reached 19% by the end of May. This performance surpasses the historical baseline, outperforming the...
Following a highly turbulent start to the year, the Cypriot holiday sector is successfully steadying itself. Deputy Minister of Tourism Kostas Koumis has confirmed that the island's vital hospitality trade is firmly reclaiming a reliable trajectory, overcoming substantial early setbacks. Fresh travel records published by the Cyprus Statistical Service show that the island welcomed roughly 455,000...
Consumer price pressures in Cyprus intensified ahead of the summer season, pushing the island’s inflation rate past the average figures recorded across the broader European bloc. Fresh harmonized data released on Wednesday by Eurostat, the statistical office of the European Union, reveals that Cyprus's annual inflation rate climbed to 3.5% in May. This marks a notable acceleration from the 3.0% pace...
Construction activity across Cyprus has experienced an explosive start to the year, driven heavily by an aggressive expansion in apartment developments and civil engineering infrastructure. The latest data released by the Cyprus Statistical Service reveals that the total footprint of licensed projects reached 661,400 square meters during January and February. This represents an impressive 54.9% surge...
Municipal and regional authorities across Cyprus authorized a massive wave of construction approvals during the opening two months of the year, signaling an aggressive expansion in the island's real estate sector. According to fresh statistical data released on Friday, municipal building permits shot up to 1,500 approved applications throughout January and February. This represents a stark 48.8% increase...
A sweeping wave of new-build developments is fundamentally shifting consumer habits in Cyprus. Faced with a steep pricing landscape, local buyers are increasingly pivoting toward compact apartments or older resale properties to secure a foothold in the market. While real estate executives reject the narrative of a severe nationwide housing shortage—pointing instead to a healthy influx of new...
The Cypriot property sector continued its trajectory of moderate but consistent expansion throughout the first quarter of the year. Real estate values and rental metrics across all major districts saw marginal upward adjustments, underpinned by a highly resilient residential sector. The comprehensive real estate update evaluates asset valuations, leasing trends, and investment returns across the island's...
Real estate across Cyprus maintained a path of steady, incremental growth through the first quarter of the year. The island's property landscape saw mild value appreciation across all major sectors, heavily anchored by a highly resilient residential market. The comprehensive index tracks property valuations, rental rates, and investment returns across every province and sector on the...
Strong consumer spending and a booming technology sector pushed Cyprus' Gross Domestic Product (GDP) up by 3.0% year-on-year in the first quarter of the year. According to preliminary Quarterly National Accounts data published by the Statistical Service of Cyprus (Cystat), the island's economy also managed a 0.2% quarter-on-quarter expansion when measured in real terms and adjusted for seasonal variations...
President Nikos Christodoulides has strongly endorsed the latest credit assessment from Moody’s Investors Service, framing the global ratings agency's findings as external validation that his administration's economic policies are functioning effectively in the real world. In an official executive statement, the President emphasized that the review carries deep political and economic weight for the...
