The Cyprus government maintained a strong fiscal position through the first eight months of 2025, recording a surplus of nearly €1.4 billion, equivalent to 4.0% of GDP. This stable result was achieved even as both government revenue and expenditure saw significant increases of around 7%, according to preliminary data from the Statistical Service. The Drivers of Increased Government...
The Cyprus real estate market rebounded strongly in September with a 15% year-on-year increase in property sales, following a minor dip in August. The robust performance, driven by both domestic and foreign buyers, keeps the market on track for its most active year since before the 2007 financial crisis, according to official figures from the Department of Lands and Surveys. Broad-Based Growth Across...
A common and costly misconception that property owners in Cyprus must possess Title Deeds before they can establish a management committee for their jointly-owned building is incorrect under current law. This misunderstanding often leaves homeowners paying non-transparent and overpriced maintenance fees to developers, when they are legally entitled to take control themselves. The Legal Standing of...
The construction sector in Cyprus experienced growth on two fronts in the second quarter of 2025, with both the volume of production and the output prices for construction projects recording significant annual increases. According to data released Tuesday by the Statistical Service, this trend was consistent throughout the first half of the year. Second Quarter Performance in Detail The Index of...
House prices in Cyprus showed a modest 1.0% annual increase in the second quarter of 2025, a figure that highlights a stable and slowing market that stands in stark contrast to the rapid price hikes seen across most of Europe. According to the latest data from Eurostat, the EU and euro area saw average annual price increases of over 5%. The European Context: A Hot Market While Cyprus experienced very...
Cyprus continues to grapple with serious challenges in the management of jointly-owned buildings, as the long-awaited legislation meant to address communal fee issues remains unresolved more than two years after its initial drafting. The original bill, first introduced for public consultation to modernize the framework governing jointly-owned properties, has since evolved into three separate pieces of...
Consumer prices in Cyprus fell for the fifth consecutive month in September, with the annual inflation rate dropping to -0.7%. According to data from the Statistical Service, the continued deflation is primarily driven by a sharp decrease in energy and agricultural product costs, which has offset rising prices in the services sector. The Drivers of Deflation The most significant...
Residential property prices in Cyprus continued their upward trend in the second quarter of 2025, with the House Price Index (HPI) rising by 1% year-on-year, according to preliminary figures released Friday by the Statistical Service. The HPI for Q2 2025 stood at 113.99 units (base year 2015=100). On a quarterly basis, the index edged up by 0.2% compared with the first quarter of the year, reflecting...
The Cypriot economy continued on its positive growth trajectory in September, with the Cyprus Composite Leading Economic Index (CCLEI) recording a solid 1.8% year-over-year increase. The growth was supported by strong performances in the tourism and retail sectors, demonstrating the economy's resilience despite external challenges. Key Sectors Driving Positive Momentum According to the Economics Research...
Limassol is set to gain two new landmark high-rise developments after the projects received approval from the Environmental Authority. The two mixed-use projects represent a combined investment of over €260 million and will add several new residential and office towers to the city's growing skyline. The €189 Million Transformation of the KEAN Site The historic former KEAN soft drinks...
