The Central Bank of Cyprus (CBC) conducted its first quantitative study to gauge public knowledge, usage intentions, and concerns regarding the European Central Bank’s planned 2029 digital euro rollout. Based on a nationwide telephone poll of 506 residents aged 18 and older, the findings reveal a widespread knowledge gap alongside strong commercial readiness. Demographics, Awareness, and Usage...
Assets managed by investment organisations in Cyprus grew by 2.5% during the second quarter of 2026, solidifying the sector's total holdings well above the €8 billion benchmark. According to statistical data published by the Central Bank of Cyprus, total industry assets rose from €8,171.9 million at the end of March 2026 to €8,377.3 million by the end of June 2026. The number of licensed investment...
The Cypriot hotel industry is rapidly evolving to target high yield international travelers by upgrading facilities and expanding niche amenities. Fresh data from the Deputy Ministry of Tourism reveals a structural transition toward luxury star ratings, boutique historic properties, pet friendly services, and specialized culinary offerings. Hospitality Landscape & Regional...
Community representatives from Mari have engaged the House of Representatives to formally address long-standing property rights, title deed issuance, and community preservation in coordination with state authorities. Mari Community Leader Maria Georgiou requested a consultation with the Parliamentary Committee on Refugees to establish a clear, structured resolution for roughly 55 local displaced...
The Cypriot economy continued its upward trajectory in the second quarter of 2026, recording an annual real GDP growth rate of 3.3%. In a statement issued on Friday, President of the Republic Nikos Christodoulides highlighted that Cyprus' economic expansion is performing at more than three times the European Union average, reinforcing the island's underlying fiscal resilience amidst persistent...
Official decisions regarding two major shopping center developments proposed for eastern Limassol will soon be submitted to the House of Representatives. In a written response dated August 3 to a inquiry from Limassol MP Marina Nikolaou, Interior Minister Konstantinos Ioannou confirmed that the Council of Ministers finalised its position on July 16, 2026, and will present its reasoning to lawmakers. Key...
Focusing solely on strict rent caps risks exacerbating long term housing shortages across Cyprus, according to Yiannis Misirlis, President of the Cyprus Land and Building Developers Association (LBDA). While acknowledging that limiting rent increases offers immediate relief to existing tenants facing household budget pressures, Misirlis argues that real market affordability depends on rapidly expanding...
Cyprus' construction industry experienced a powerful wave of momentum through the first four months of 2026. Driven by an accelerating residential real estate market, official figures from the Cyprus Statistical Service (Cystat) reveal that total approved building space reached 1.35 million square metres, a 45.5% expansion year on year. This surge highlights a dramatic pivot in capital allocation across...
The Cypriot government, through draft legislation prepared by the Department of Lands and Surveys, has unveiled a comprehensive structural overhaul to reform forced property sales and judicial auctions. The proposed regulatory framework, currently open for public feedback through a consultation period closing September 8, aims to streamline administrative backlogs, introduce dynamic valuation procedures,...
Cyprus’ Land Development Corporation (KOAG) has secured over €20 million in capital by monetization of additional building density allowances granted to commercial real estate developers. The accumulated funds will directly underwrite the construction of 250 new residential units, designed to expand affordable homeownership and lower rental entry barriers across the island. Under the framework,...
