Trade unions representing the Cypriot construction sector, PEO, SEK, and DEOK, have issued a joint declaration advocating for fair labor standards and stronger regulatory enforcement regarding employment permits for third-country nationals (TCNs). The unions emphasize that work permits for contractors and subcontractors should be strictly tied to full compliance with collective bargaining agreements...
The 16 member companies of Cyprus’s Association of Large Developments are currently managing major real estate and infrastructure investments exceeding €8 billion, according to Association President Andreas Dimitriadis. Speaking at the association's general assembly, in the presence of Republic of Cyprus President Nikos Christodoulides, Dimitriadis outlined how high impact projects are reshaping the...
The Cyprus Property Developers Association has submitted a proposal to the House Interior Committee advocating for the creation of a "Digital Building Identity" for jointly owned properties. Designed to modernize building governance, upkeep, and structural safety, the initiative proposes leveraging the planned online registry of jointly owned developments to establish a centralized digital archive for...
The Cypriot government has established a legal framework to advance the redevelopment of Larnaca Marina by directly leasing the facility to the Cyprus Ports Authority (CPA), bypassing the requirement for an open public tender. Following discussions between the Ministry of Transport, Communications and Works and the Legal Service, officials agreed to amend existing regulations to enable a long-term lease...
The Cabinet of Cyprus has approved proposed regulatory changes to overhaul and simplify how building permit fees are calculated across the island. According to the Ministry of the Interior, the draft regulations have been submitted to the House of Representatives for parliamentary debate and final enactment, marking the latest phase in the government's broader planning modernization agenda. Interior...
A new shared ownership blueprint has been proposed in Cyprus to help middle income households and young professionals secure housing. Designed to bridge the gap between social housing aid and open market property prices, the framework would allow buyers to purchase an initial stake in a property while paying a regulated occupancy charge on the remaining balance. The model relies on structured cooperation...
Following official audit and verification under the European Commission’s Excessive Deficit Procedure (EDP), Cyprus recorded a final fiscal surplus of €1,360.2 million for 2025. According to data released by the Statistical Service, the audited surplus represents 3.6% of GDP, while total public debt stood at €20,053.2 million, or 52.3% of GDP. Core Public Finance Indicators (2025 vs. 2024) Both...
Cyprus real estate market activity climbed to its highest September performance since record-keeping began in 2000. Official statistics published by the Department of Lands and Surveys reveal that 1,681 sales contracts were filed across the island during September 2026—a 13% jump compared to the 1,484 transactions registered in September 2025. The surge was driven by robust expansion across all buyer...
Construction activity across Cyprus continues to accelerate, with local authorities issuing 751 building permits in June 2026—an 18.3% increase compared to the same month last year. According to figures released by the Statistical Service, the approved projects represent a total financial value of €469.5 million and cover 394.7 thousand square meters of total floor space, paving the way for 2,122 new...
Amid persistent increases in property values, economist Stelios Platis and Association of Real Estate Appraisers President Polys Kourousides outlined contrasting proposals for addressing the island's housing accessibility crisis. While both agreed that securing affordable primary housing for local residents has become a critical social issue, they offered fundamentally opposing mechanisms to achieve market...
