Plans for one of the largest residential master-planned developments in Cyprus are moving forward near Larnaca. Promoted by Aroundtown Property Holdings PLC in partnership with Prosperity Group and Astrea International Properties, the €180 million project, titled "The Ring Cyprus" has officially secured planning permission and is currently awaiting building permit clearance in the municipality of...
Residential real estate values across Cyprus accelerated during the second quarter of 2026, climbing 7.9% year-on-year, according to preliminary figures issued by the Statistical Service of the Republic of Cyprus (CYStat). The national House Price Index reached 105.46 points (benchmarked against a 2025 base of 100), marking a 2.4% expansion over the first quarter of the year. Quarterly Evolution of the...
In an effort to provide immediate financial relief to households ahead of the winter season, the House of Representatives voted on Thursday to approve a temporary reduction in excise duties on heating fuel. Following a unanimous decision by the House Finance Committee, parliament moved to implement the tax cut immediately starting October 23, 2026, advancing the start date from the government's initial...
Cyprus’s unbuilt property sector recorded strong expansion in the third quarter of 2026, driven by heightened buyer activity and shifting regional demand. According to figures compiled by Landbank Analytics, the market registered 1,956 off-plan transactions for houses and apartments (covering projects under construction or in early planning phases), generating a combined market value of €606.4...
Cyprus’s economic expansion in 2025 was significantly stronger than initial estimates indicated, with real GDP growth reaching 4.8%, according to the latest Annual National Accounts release by the Statistical Service. The updated figure represents a full percentage point upward revision from the 3.8% preliminary projection issued in March 2026. Nominal Gross Domestic Product at current prices for 2025...
Cyprus Finance Minister Makis Keravnos welcomed the International Monetary Fund’s (IMF) October 2026 World Economic Outlook, describing its projections as a strong endorsement of the island’s fiscal trajectory. Keravnos noted that the report aligns with recent evaluations from other European and international bodies, reinforcing the resilience of the Cypriot economy against ongoing global uncertainty...
Cyprus has formally enacted a regulatory screening mechanism for foreign direct investment (FDI), introducing mandatory national security checks for non-EU capital entering critical economic sectors. The national framework was detailed in the European Commission's sixth annual report on FDI screening published by the Directorate-General for Trade and Economic Security. Key Legislative Requirements and...
Interest rates across Cyprus edged upward in August 2026 for household deposits, consumer credit, and housing loans, according to data released on Monday by the Central Bank of Cyprus (CBC). The rate increases coincided with a sharp slowdown in overall new lending volumes across both retail and corporate sectors compared to July. August 2026 Interest Rate Movements While borrowing costs rose for...
Cyprus saw a monthly surge in tourism receipts in July 2026, driven by record high per-person expenditure despite shorter average trips. According to the Passenger Survey published by the Statistical Service, July earnings expanded by 4.6% year-on-year to reach €536.5 million (up from €513 million in July 2025). However, stronger summer results were not enough to offset earlier losses, leaving...
Young residents in Cyprus enjoy significantly less crowded living conditions compared to their European peers, according to Eurostat data released on Tuesday. In 2025, Cyprus recorded the lowest proportion of young people aged 15 to 29 living in overcrowded households across the entire European Union. Key Living Condition Metrics (2025) Metric / Region Cyprus EU...
