The Federation of Cyprus Building Contractors Associations (OSEOK) has sounded the alarm over a critical lack of personnel that is currently stalling both public and private infrastructure projects across the island. During a high level summit held on April 2, 2026, industry leaders met with government ministers to demand an immediate and functional framework for hiring labor from third countries. Stelios...
Investors and private buyers have only a few days left to participate in Altamira Real Estate’s 'A Plot of Land in Your Hometown' campaign. The firm has issued a final reminder that the window for submissions will officially shut on Tuesday, April 7, at 10:00 am. The massive auction features over 1,000 plots spread across every district in Cyprus. The campaign has seen high engagement due to its focus...
The Cyprus Land Development Organization (KOAG) has officially moved into the implementation phase of its latest residential venture, ADONIS III. On April 3, 2026, the organization formalized its partnership with A. Aristotelou Construction Ltd to develop a modern housing block in Polemidia, specifically designed to support the national affordable housing policy. Located on Kantaras Street, the...
Interior Minister Constantinos Ioannou has announced a significant policy shift that will allow Greek Cypriot refugees living in government housing estates to finally secure title deeds for their homes. The proposal, set for Cabinet review this Thursday, aims to resolve decades of legal ambiguity for families residing in properties with minor planning irregularities. This reform is a key part of a broader...
Cyprus is currently navigating a significant shift in its housing landscape, with rental prices increasing between 30% and 40% over the last five years. Recent data indicates that the island now leads the European Union in housing related financial activity, with 11% of the population actively managing housing costs compared to the EU average of 5%. The trend is most visible in coastal areas. In Larnaca,...
The Republic of Cyprus has unveiled a massive €230 million investment strategy aimed at revolutionizing the island's water management systems. Funded through the 'THALYA 2021-2027' program and co-financed by the European Union, the initiative seeks to build long term climate resilience as the country faces increasing pressure from drought and aging infrastructure. The General Directorate of Development...
Government expenditure for financial support programs saw a sharp decline last year as the state wound down its commitments to interest rate subsidies and non-performing loan (NPL) management. According to the latest figures from the General Accounting Office of the Republic, total payments for these programs fell to €13.4 million in 2025, a significant decrease from the €24.4 million spent in...
Energy consumption on the island showed almost no change last month, even as specific sectors experienced dramatic shifts in demand. According to the latest report from the Statistical Service of Cyprus (Cystat) released on Friday, March 27, 2026, total petroleum sales reached 111,922 tonnes, representing a marginal year on year increase of just 0.1%. While the headline figure suggests a flat market, the...
The Cypriot banking sector witnessed a significant expansion in February 2026, characterized by a double-digit surge in borrowing and a healthy recovery in deposit levels. According to the latest monetary report released by the Central Bank of Cyprus (CBC) on Thursday, total loans jumped by 12.3% annually, while deposits maintained a steady growth rate of 4.7%. The data suggests a robust appetite for...
What was once a casual "side hustle" for homeowners has officially matured into a sophisticated pillar of the national economy. According to a new market analysis, the explosive growth of platforms like Airbnb is fundamentally re-engineering the property sector, dictating everything from architectural design to multi-million euro investment strategies. As reported the rise of professional operators...
