Despite severe disruptions earlier this year, the downturn in Cypriot tourism narrowed to an 8% contraction over the first seven months of 2026. The sector is on track to cap full-year visitor losses at approximately 5%. Speaking at the launch of new municipal cycle trails in Troulloi (Aradippou), Deputy Minister for Tourism Kostas Koumis outlined how targeted interventions helped mitigate an...
The Central Bank of Cyprus (CBC) has revised its economic projections upward in its September 2026 forecast, raising its gross domestic product (GDP) growth estimate for 2026 by 0.4 percentage points compared to its June estimates. GDP expansion is now projected to hit 2.9% in 2026 before accelerating to 3.1% in both 2027 and 2028. Despite ongoing Middle East regional conflict and broader geopolitical...
Cyprus saw its trade deficit expand by €821 million during the first seven months of 2026, driven by a sharp uptick in imports that outpaced export growth. According to preliminary data published by the Statistical Service of Cyprus, the island’s trade gap reached €5,620.1 million between January and July 2026, up from €4,798.9 million recorded over the same period in 2025. Trade Balance...
A total of €46 million in residential investments is currently working through the planning pipeline in the wider Akamas region of Cyprus. Three distinct housing proposals, potentially delivering 89 luxury villas have submitted Environmental Impact Assessment studies to the Department of Environment for review. Project execution remains strictly contingent upon obtaining necessary environmental and...
The Cypriot economy demonstrated strong baseline fundamentals in the first half of 2026, driven by solid domestic consumption, robust real estate expansion, and stable fiscal management. Cyprus maintained a positive 3.0% annual GDP growth rate in the first quarter, backed by a strong fiscal surplus of €420.3 million (1.1% of GDP). While traditional foreign-facing industries like inbound tourism adjust...
Rising housing costs across major urban centers in Cyprus have brought the controversial issue of statutory rent caps back to the forefront of parliamentary debate. With young families, low income earners, and local workers struggling to secure affordable living space, lawmakers are divided on whether direct state intervention in lease agreements offers a viable solution or risks crippling property supply...
The Cyprus Hotel Association (STEK) has expressed support for updating the regulatory framework governing short-term holiday rentals, advocating for balanced measures to ensure a level playing field across the island’s hospitality sector. The association’s call for reform follows the publication of an Audit Office report, which highlighted inconsistencies in the licensing and oversight of both...
Cyprus can best resolve its current housing difficulties by actively boosting the supply of available properties rather than introducing restrictive market regulations, according to a written briefing by Polys Kourousides. Kourousides, who heads the Interior Portfolio of the Government Project Monitoring Council and serves as a special advisor on housing policy, identified access to affordable housing as...
The Cypriot real estate sector has shattered historical milestones, locking in its most successful month of June since records officially began 26 years ago. Driven by a powerful blend of local acquisitions and international investments, the market continues to exhibit remarkable resilience and growth. According to the latest figures published by the Department of Lands and Surveys, a total of 1,964...
