The construction sector in Cyprus started 2025 with a notable dip in building permits, as the Statistical Service reports a 24% year-on-year decline for January 2025. Only 446 permits were issued during the month—down from the same period last year—indicating a cooling in construction activity. Interestingly though, the total value of those permits increased by 4.3%, reaching €230.8 million,...
Tourism in Cyprus saw a major boost this spring, with 418,730 tourist arrivals recorded in April 2025—a sharp 25.5% increase from the 333,563 visitors in April 2024, according to the Statistical Service of Cyprus. Top Source Countries Visitors from the United Kingdom led the pack, making up 36.3% of total arrivals (151,883 people). Other significant contributors included: Israel: 15.2%...
Limassol is stepping confidently into the future with over €660 million in planned investments, President Nikos Christodoulides announced during the unveiling of the government’s strategic plan for the district on Saturday. Speaking at an official event attended by 12 cabinet members, local MPs, and representatives from every local authority, the President described Limassol as the driving force of...
Cyprus is off to a strong economic start in 2025, with the country’s GDP rising by 1.3% in the first quarter, according to a flash estimate released by Eurostat on Thursday. That’s a notable jump compared to the broader EU and eurozone, which both posted more modest 0.3% gains during the same period. Quarter-on-Quarter Momentum Builds This growth follows a quieter end to 2024, when Cyprus recorded...
The Cyprus Real Estate Agents Registration Council has voiced strong support for new legislation that would bring tighter oversight to daily rental properties, a move they say is long overdue. This week, the council participated in a House commerce committee session where a bill was under discussion to toughen regulations surrounding self-catering accommodations. The proposed changes would also introduce...
Cyprus' property market has made a full-circle comeback, with current apartment prices now on par with figures last seen back in 2012—right before the island’s banking crisis shook the economy. Recent findings from the Central Bank of Cyprus show that apartment values have climbed to record highs, signaling a strong recovery in the real estate sector. Apartment Price Index Hits All-Time High As of...
Mortgage rates in Cyprus showed significant variation in March 2025, with interest rates depending largely on the lending bank and loan structure. According to data released by the Central Bank of Cyprus (CBC), the highest average rate for new housing loans reached 5.24%, while the lowest came in at just 2.50%. Mortgage Interest Rates: Who's Charging What? For new home loans with a variable interest...
At the recent Property Show Pafos ’25, George Mais, President of the Paphos Chamber of Commerce and Industry (Evep), emphasized that while Paphos has seen positive development in recent years, there’s still massive untapped potential. What’s needed now? Strategic state support and a stronger focus on public infrastructure to match the private investment already flowing into the region. Why This...
In 2024, the real estate sector in Cyprus hit a new milestone, with the total value of property transactions climbing to €5.71 billion — the highest ever recorded. According to PwC Cyprus, this marks a slight 1% uptick compared to the previous year. While the market’s value edged upward, the number of transactions actually dipped. PwC reported 23,900 deals for the year, reflecting a 3% drop from...
March 2025 brought a major upswing in lending across Cyprus, with total pure new loans climbing to €658.2 million, a sharp increase from €246.1 million in February, according to figures released by the Central Bank of Cyprus. Business Lending Drives the Growth The largest boost came from new loans issued to non-financial corporations for amounts exceeding €1 million. These soared to €483.1...
