In a major step forward for the country's digital transformation, the Cyprus Tax Department has officially integrated Ask Wire’s advanced real estate intelligence platform into its day-to-day operations. The agreement signals a shift toward tech-driven governance, with the state adopting institutional-grade tools to dramatically improve market transparency, eliminate data errors, and streamline property...
Ahead of a high-level informal gathering of European Union Finance Ministers and Central Bank Governors, Cyprus Finance Minister Makis Keravnos highlighted the critical need for expanded investment across the continent to counter growing geopolitical and economic pressures. However, the minister firmly cautioned that this push for new funding must not come at the expense of the European Union's...
Cyprus is undergoing a profound structural shift as global property demand pivots away from purely speculative financial investments toward long-term relocation, lifestyle integration, and business establishment. Reflecting on the recent RealtyOn Conference in Limassol—the island's premier annual real estate gathering—Yiannis Misirlis, Chairman of the Cyprus Property Developers Association, observed...
Senior government officials and international financial analysts are delivering a highly confident outlook for the Cypriot economy. Speaking at a major investment conference in Limassol, Energy, Commerce, and Industry Minister Michael Damianos declared that Cyprus remains a premier, predictable, and secure hub for global capital, framing foreign direct investment as an essential lifeline for the island's...
Parliament has extended the tax relief deadline for newly built primary residences. Under Law 109(I)/2026, buyers facing municipal backlogs now have until December 31, 2026, to secure the discounted 5% VAT rate instead of the standard 19%. The amendment, published in the Official Gazette on April 24, 2026, aims to protect buyers stalled by state planning delays. Who Qualifies for the Extension? The...
The Cypriot construction industry has kicked off the year with an unprecedented wave of activity. According to the latest figures from the Cyprus Statistical Service (CYSTAT), January 2026 saw an explosive rise in building permits, signaling a major expansion in the island’s housing supply and infrastructure development. Across almost every metric, total area, project value, and the number of planned...
Speaking at the European Conference on Architectural Policy (ECAP 2026) on Thursday, Minister of Transport, Communications, and Works Alexis Vafeadis declared that modernizing Cyprus' existing buildings is no longer a choice, but a strategic priority. As Cyprus holds the Presidency of the Council of the European Union, Vafeadis used the platform to advocate for a radical shift in urban planning, moving...
In a major step toward the nation's digital transformation, the Cyprus Tax Department has officially partnered with a leading local PropTech firm to integrate a specialized real estate intelligence platform into the government’s daily operations. The collaboration, announced on Thursday, April 30, 2026, aims to bring institutional grade precision to the way the state monitors and values the property...
The Ministry of Finance has officially announced a new period for eligible citizens to apply for the "Rent to Installment" (Mortgage to Rent) Scheme. Starting Monday, May 4, 2026, the program will once again accept applications aimed at providing a social safety net for homeowners facing significant financial distress. The scheme is designed to protect primary residences by allowing burdened borrowers to...
The Cypriot economy is poised for a significant growth spurt between 2027 and 2028, fueled by a surge in major private infrastructure projects and robust exports in the technology and financial sectors. In the newly released 2025 Annual Report from the Central Bank of Cyprus (CBC), Governor Christodoulos Patsalides outlined a trajectory of recovery and expansion, even as the island navigates the immediate...
