In a major strategic shift for Cyprus’ southeastern coast, the ambitious redevelopment of Larnaca’s port and marina will now proceed as two independent but concurrent ventures. This recommendation comes from specialized advisors to Greece’s National Investment Fund , who were tasked with finding a sustainable path forward following the termination of previous multi-billion euro contracts. By...
The Cypriot residential property market continued its upward trend in the second quarter of 2025, with prices rising 4.7% annually. This growth was fueled almost entirely by a boom in apartment prices, which masked a significant slowdown in the market for houses, according to data released Friday by the Central Bank of Cyprus. The Engine of Growth: Surging Demand The Central Bank's report highlights that...
A remarkable 46% surge in domestic property sales in Limassol single-handedly propped up the Cypriot real estate market in August, offsetting significant declines in all other districts. A detailed analysis from the Department of Lands and Surveys released Friday shows that while overall property sales dipped by a marginal 1% compared to last year, the domestic market remained stable thanks entirely to...
The cost of borrowing for home purchases in Cyprus decreased in July, while interest rates on consumer credit rose, presenting a mixed picture for household finances, according to data released Wednesday by the Central Bank of Cyprus (CBC). Overall, the interest rate environment in Cyprus remains close to the median for the Eurozone. Detailed Breakdown of Loan and Deposit Rates The CBC figures for...
Rental prices across Cyprus are soaring to new heights, placing significant pressure on household budgets and triggering concerns over a deepening housing affordability crisis. New data from the Department of Lands & Surveys reveals a rapid escalation in just six months, with the city of Limassol emerging as the most expensive rental market on the island. A Tale of Two Markets: Limassol vs. Other...
Cyprus recorded the third-highest increase in greenhouse gas emissions among all European Union members in the first quarter of 2025, with an 8.38% surge compared to the same period last year. This significant rise places the nation among the top contributors to the bloc's growing carbon footprint, according to new data released by Eurostat, the EU's statistical office. EU-Wide Emissions on an Upward...
Cyprus continued to experience deflation in July 2025, marking the third month in a row with negative inflation. The Consumer Price Index (CPI) dropped by 0.9% compared to July 2024—the sharpest year-on-year decrease recorded since late 2022. The Statistical Service of Cyprus reported that the CPI fell to 116.65 units in July, down from 117.28 units in June, reflecting a monthly decline of 0.63...
Development expenditure under Cyprus’ 2025 state budget reached 24% by the end of June, outperforming both last year’s mid-year execution rate of 22% and the 10-year average of 21%, according to figures released by the Treasury of the Republic on Thursday. The total allocation for development spending this year amounts to €1.55 billion. In the first six months, €370.8 million was disbursed, up...
Cyprus’ property sector continued its upward trajectory in the first six months of 2025, with total real estate transactions reaching €2.3 billion, according to recent data published by the Real Estate Agents Registration Council of Cyprus. Figures from the Department of Lands and Surveys show that 8,729 sale contracts were submitted between January and June 2025—reflecting a 16% increase compared...
