Building costs in Cyprus continued a modest upward trend during the second month of the year, driven largely by rising prices for specialized technical equipment and chemical products. New data released on Wednesday, March 18, 2026, by the Statistical Service of Cyprus (Cystat) shows that the Construction Materials Price Index climbed to 119.28 points, using 2021 as the baseline year. This figure...
Borrowing costs for new homes in Cyprus saw a notable uptick at the start of the year, with the highest available mortgage rate climbing to 3.41% in January 2026. Data released by the Central Bank of Cyprus (CBC) highlights a general upward trend in lending rates, even as the island's average remains more affordable than much of the Eurozone. According to the CBC’s monthly report, the peak rate rose...
Residents of Cyprus are enjoying some of the longest lifespans in the world, with the island now ranking fourth across the European Union for life expectancy. According to the latest comprehensive data from Eurostat, a child born in Cyprus in 2024 can expect to live an average of 83.55 years, significantly outperforming the broader EU average of 81.5 years. This milestone marks a complete recovery from...
Cyprus began the 2026 fiscal year with a significant budget cushion, as the general government recorded a surplus of €538.8 million for the month of January. While the figure represents a slight dip from the €569.3 million surplus seen during the same month last year, it remains a robust 1.5% of the national GDP. According to the Statistical Service of Cyprus (Cystat), this performance was driven by a...
Construction activity across the island reached new heights during the first eleven months of 2025, as high density residential projects became the primary engine of economic growth. Fresh data from the Cyprus Statistical Service (Cystat), published on March 13, 2026, reveals that the total floor area authorized for new developments surged by 35.3%, totaling nearly 2.95 million square meters. The...
In a major move to bolster borrower protections, the House Commerce Committee has advanced two pivotal bills designed to eliminate "unfair clauses" from mortgage agreements. The legislative push, finalized on Tuesday, March 10, 2026, aims to provide a more robust legal framework for consumers who find themselves at a disadvantage when dealing with powerful financial institutions. The decision to move...
In a major move to bolster borrower protections, the House Commerce Committee has advanced two pivotal bills designed to eliminate unfair clauses from mortgage agreements. The legislative push, finalized on Tuesday, March 10, 2026, aims to provide a more robust legal framework for consumers who find themselves at a disadvantage when dealing with powerful financial institutions. The decision to move these...
Highlighting a message of stability amidst regional volatility, Cyprus Finance Minister Makis Keravnos informed his European counterparts on Tuesday that the island remains a secure and functional destination. Speaking as he arrived to chair the EU Economic and Financial Affairs Council (ECOFIN), Keravnos confirmed that despite the ongoing conflict involving Iran, "life in Cyprus is running smoothly and...
While the broader European economy experienced a period of stagnation at the close of 2025, Cyprus emerged as a primary engine of growth for the region. According to the latest data from Eurostat, the European Union and the Eurozone both posted a marginal quarterly GDP increase of just 0.2%. In contrast, Cyprus delivered a robust 1.4% expansion for the same period. The island’s performance was...
The Cypriot industrial sector maintained its upward trajectory throughout 2025, concluding the year with a robust 5% annual growth in its total turnover. Fresh data from the Statistical Service of Cyprus (Cystat) indicates that the Industrial Turnover Index reached 139.8 points in December, a nearly 5% jump compared to the same month in 2024. This sustained expansion reflects a resilient industrial base...
