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...
Homeowners facing the threat of repossession are eyeing the House of Representatives as a sweeping package of foreclosure reforms moves toward a final decision. Following intense deliberations by the Parliamentary Finance Committee, the legislative changes are scheduled for a plenary vote on either April 6 or April 16, 2026. The reforms represent a high-stakes attempt to shield primary residences and...
The national real estate market has officially entered uncharted territory, with apartment prices in the fourth quarter of 2025 eclipsing the previous record set during the 2008 property bubble. According to the latest Residential Property Price Index (RPPI) from the Central Bank, the apartment sector has surged to 123.9 points, marking a monumental recovery from the 2013 financial crisis lows. While the...
The landscape of the Cypriot construction industry is undergoing a profound transformation, shifting from the traditional roots of manual craftsmanship to a future led by sophisticated business strategists. This evolution was the central theme of a keynote address by Stelios Gavriel, President of the Federation of Building Contractors Associations of Cyprus (OSEOK), at the 20th Property Development, Real...
In a proactive effort to protect the island's most vulnerable residents, Finance Minister Makis Keravnos has confirmed the government’s intent to revive the Mortgage to Rent program. Speaking before the House Finance Committee on Friday, March 20, 2026, Keravnos indicated that the scheme will likely reopen for several months to accommodate new applications from struggling homeowners. To ensure a swift...
The construction landscape on the island is entering a high tech era of modernization following the launch of strict new regulations for mechanical and electrical (M&E) installations. These reforms, published this week, are designed to fundamentally upgrade building safety, construction quality, and energy efficiency across the residential and commercial sectors. The Cyprus Scientific and Technical...
While many European nations grapple with rising service costs, the Republic has emerged as a leader in price stability. New data released on Wednesday, March 18, 2026, by Eurostat reveals that annual inflation on the island dropped to 0.9% in February, the second lowest rate recorded across the entire European Union. This localized cooling of prices stands in contrast to the broader Eurozone, where the...
