Cyprus is rethinking how it handles property purchases by non-EU nationals, as concerns grow over housing affordability and the rising influence of foreign investors on the local real estate market. EU vs. Non-EU: The Legal Divide While EU citizens can buy as many properties as they like in Cyprus, non-EU nationals still face legal limitations under the long-standing Acquisition of Immovable Property...
Tourism in Cyprus is off to a record-breaking start in 2025, with historic levels of visitor arrivals during the first four months of the year. According to Government Spokesman Konstantinos Letymbiotis, April alone saw over 400,000 tourist arrivals, the highest number ever recorded for that month. Letymbiotis shared the update during a press briefing at the Presidential Palace, describing this success as...
The pace of residential property price increases in Cyprus is continuing to ease, according to the Central Bank of Cyprus (CBC). In its latest Quarterly Residential Property Price Index report for Q4 2024, the CBC points to two major headwinds: persistently high construction costs and elevated borrowing rates. Overall Trend: Growth Slows Down While prices are still rising, the rate of increase has...
Cyprus is making progress on the employment front, as new figures from Eurostat show a significant decline in long-term unemployment. In 2024, the country’s long-term unemployment rate dropped to 1.3%, down from 1.8% in 2023 — a 0.5% improvement. This places Cyprus 19th among EU member states, sitting between Hungary (1.5%) and Austria (1.1%), and below the EU average for long-term...
Cyprus has made a significant leap in the global startup scene, officially entering the Top 40 worldwide for the first time, according to the latest StartupBlink Global Startup Ecosystem report. This marks a major milestone for the country’s innovation and entrepreneurship efforts. The Research and Innovation Foundation (RIF) celebrated the news, noting that Cyprus climbed five spots from its 2024...
New figures released by the Cyprus Statistical Service (Cystat) show that average monthly earnings in Cyprus grew by 5% in the final quarter of 2024 compared to the same period the year before. Based on preliminary data, average earnings climbed to €2,813 in Q4 2024 — up from €2,680 in Q4 2023. When adjusted for seasonal changes and compared to the previous quarter, monthly wages also saw a 1.2%...
The real estate industry in Cyprus is going through a period of energetic evolution. Despite facing a number of complex challenges, it remains a strong force in the economy — making up around 15% of national GDP and providing over 40,000 jobs. More than just numbers, the sector also plays a key role in elevating Cyprus as an international magnet for investment. Adapting to Change in a Complex...
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...
