News

Cyprus economy most threatened by renewed price increases

17.10.2022 The Cyprus Economics and Competitiveness Council released a report on Monday showing that a sustained and pronounced rise in consumer prices and inflation has been assessed by experts from..

Cyprus GDP revised upwards, inflation to more than half next year

17.10.2022 The University of Cyprus Economic Research Center (CypERC) released an updated economic outlook report on Monday, noting that real GDP growth in 2022 is projected at 4.9%, up 2..

Real estate safe from EU property bubble

17.10.2022 The banking and real estate sectors of Cyprus will not be affected by a possible bubble due to the overheating of the housing market in the European Union, local..

Finance ministry concerned over unpaid housing loans

17.10.2022 The Ministry of Finance has expressed concern and dissatisfaction with the high amount of debt owed to public organizations that give people loans for housing - loans issued by..

The burning issue of rents

17.10.2022 In recent months, the problem of high rents has been all over the media. High rents cause social problems, especially for young couples and low-paid people, and discourage students..

NPLs at the end of July 2022 amounted to 2.85 billion euros

15.10.2022 According to a report released on Friday by the Central Bank of Cyprus, non-performing loans (NPL) in the banking sector of Cyprus at the end of July 2022 amounted..

With a new CEO Limassol Greens, sales exceeded €50 million

14.10.2022 Executive Director of Lanitis Golf Public Co. Ltd, the owner of Limassol Greens Golf Resort, has been taken over by the municipality of Panagiotou since September 1, 2022, when..

Cyprus hosts panel discussion on greener shipping

The Cyprus Chamber of Shipping (Kne) on Thursday announced the successful holding of a panel discussion on greener shipping and the maritime industry through collaborative practices. The panel discussion was..

Homeowners win Swiss franc loan fight

14.10.2022 A number of home buyers in Cyprus have won a legal battle to be freed from their overburdening Swiss franc loans. A judge from the Paphos District Court delivered..

Multi-storey office development will house businesses in Limassol

13.10.2022 The construction of a seven-story office complex within the municipal area of the municipality of Agios Athanasios, in the Limassol area, is planned by BH High Cross. The purpose..

Up to 60% off properties from 3-60 Themis Event

13.10.2022 Discounts up to 60% on properties participating in Themis Event 3-60 continue in October. With a huge selection of properties throughout Cyprus, both in urban and rural areas, and..

Average employee gross earnings up 3.2 per cent in 2021

13.10.2022 The average gross monthly salary of employees in 2021 increased by 3.2% compared to 2020 to 2067 euros, reaching a decade high. According to a press release from the..

CySEC releases investor guide on financial resilience

13.10.2022 The Cyprus Securities and Exchange Commission (CySEC) on Wednesday released an investor guidance on financial strength that outlines how investors can adapt to a sudden change in their income,..

Cyprus trade deficits surpasses €5 bln in August

13.10.2022 Cyprus' trade deficit increased by 1.53 billion euros in the first eight months of 2022 compared to the corresponding period last year, exceeding the total value of 5 billion..

Public employment in Cyprus increased by 0.4% in September 2022

13.10.2022 According to a report published this week by the Cypriot Statistical Office (Cystat), government employment in Cyprus increased by 0.4% year on year in September 2022, and the total..

Borrower Protection Association wants to discuss loan repayments

12.10.2022 The Borrower Protection Association released a statement on Tuesday asking for meetings with House Speaker Annita Demetriou, Central Bank Governor Konstantinos Herodotou, and political parties to discuss possible measures..

Inflation threatens home-owning dreams

12.10.2022 Soaring inflation threatens to reverse the upward trend in home loans from Cypriot banks over the past two years as interest rates rise. Bank of Cyprus officials say high..

Ready-to-deliver Cyfield apartments in the best areas of Nicosia

11.10.2022 Ready-to-let modern apartments in selected areas that cover all the needs of a modern person, Cyfield offers the market. These are spacious and functional apartments located in the areas..

Mortgage to rent scheme moving forward

10.10.2022 A mortgage-to-rent scheme for troubled borrowers is evolving as state asset management agency KEPIDES, the finance ministry, banks and the EU complete the detailing, reports said on Monday. The..

House prices up 4.7% due to construction costs

07.10.2022 An accelerated rise in house prices was recorded in the second quarter of 2022, mainly due to rising construction costs, according to the Central Bank of Cyprus quarterly real..

The prices in the warehouses are increasing, the activity is limited

07.10.2022 A decrease in construction activity under the weight of inflationary pressures affecting the sector is evidenced by data from the Statistical Office (Cystat) for the second quarter of 2022...

New increase in the House Price Index in the second quarter of 2022

07.10.2022 The House Price Index (HPI), compiled by the Statistical Office, rose for the second quarter in a row, showing an increase in the cost of buying a home. In..

Reduction in the number and value of building permits in the seven-month period

07.10.2022 According to the Statistical Service, the number of building permits issued in the first seven months of 2022 decreased by 4.2% compared to the corresponding period last year. In..

Warning of unsafe areas to build in Cyprus

07.10.2022 The Department of the Geological Survey of Cyprus is warning citizens to protect their real estate by reviewing the areas of geological suitability in which it is not recommended..

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