The cost of borrowing for home purchases in Cyprus decreased in July, while interest rates on consumer credit rose, presenting a mixed picture for household finances, according to data released Wednesday by the Central Bank of Cyprus (CBC). Overall, the interest rate environment in Cyprus remains close to the median for the Eurozone. Detailed Breakdown of Loan and Deposit Rates The CBC figures for...
Rental prices across Cyprus are soaring to new heights, placing significant pressure on household budgets and triggering concerns over a deepening housing affordability crisis. New data from the Department of Lands & Surveys reveals a rapid escalation in just six months, with the city of Limassol emerging as the most expensive rental market on the island. A Tale of Two Markets: Limassol vs. Other...
Cyprus recorded the third-highest increase in greenhouse gas emissions among all European Union members in the first quarter of 2025, with an 8.38% surge compared to the same period last year. This significant rise places the nation among the top contributors to the bloc's growing carbon footprint, according to new data released by Eurostat, the EU's statistical office. EU-Wide Emissions on an Upward...
Cyprus continued to experience deflation in July 2025, marking the third month in a row with negative inflation. The Consumer Price Index (CPI) dropped by 0.9% compared to July 2024—the sharpest year-on-year decrease recorded since late 2022. The Statistical Service of Cyprus reported that the CPI fell to 116.65 units in July, down from 117.28 units in June, reflecting a monthly decline of 0.63...
Development expenditure under Cyprus’ 2025 state budget reached 24% by the end of June, outperforming both last year’s mid-year execution rate of 22% and the 10-year average of 21%, according to figures released by the Treasury of the Republic on Thursday. The total allocation for development spending this year amounts to €1.55 billion. In the first six months, €370.8 million was disbursed, up...
Cyprus’ property sector continued its upward trajectory in the first six months of 2025, with total real estate transactions reaching €2.3 billion, according to recent data published by the Real Estate Agents Registration Council of Cyprus. Figures from the Department of Lands and Surveys show that 8,729 sale contracts were submitted between January and June 2025—reflecting a 16% increase compared...
Cyprus kicked off 2025 with a healthy budget surplus of €619.1 million, according to early data from the Statistical Service of Cyprus (CyStat), reported by Stockwatch.com.cy. This marks a growth of 7.5% compared to the €575.7 million surplus recorded during the same period last year. Revenue on the Rise Between January and March 2025, Cyprus’ total government revenue climbed to €3.64 billion,...
The Bank of Cyprus has exceeded its full-year real estate divestment target months in advance, securing over €200 million in property sales during the first half of 2025, according to an article by Cyprus Mail. Major Deal Sets New Record in Cyprus Real Estate The standout transaction was the sale of the Secret Valley resort in Paphos—formerly known as Venus Rock Golf Resort—for more than €130...
Cyprus recorded a slight uptick in harmonised inflation in June 2025, with the Harmonised Index of Consumer Prices (HICP) increasing by 0.5% compared to the same month last year, according to the Statistical Service of Cyprus. Month-over-month, prices edged up 0.4% from May. Sectors such as Recreation and Culture (+7.5%) and Restaurants and Hotels (+5.5%) were the biggest contributors to the annual rise....
Cyprus is facing growing scrutiny over its lack of oversight in the property sector, as a surge in real estate acquisitions by foreign buyers—often through Cypriot-registered companies—raises questions about transparency, legal loopholes, and long-term consequences for local communities. In a recent Kathimerini article, former MEP Takis Hadjigeorgiou described his year-old conversation with a top...
