News

16.24% annual increase in the construction materials price index

19.10.2022 The building materials price index for September 2022 reached 134.55 units (based on 2015 = 100), representing a slight increase of 0.16% compared to the previous month. According to..

In these materials the construction cost gallops

19.10.2022 Building materials price increases may have been capped this September at 0.16% compared to August, but relative to September 2021, the relative figure recorded a 16.24% increase, exacerbating already..

How the Ararat construction works are progressing

19.10.2022 Construction work is ongoing at Ararat Grand Residences, a 27-story tower to be built on the eastern side of Limassol's coastal road. The project consists of 17 luxury apartments..

Overseas travel in September 2022 up 84.3% year on year

19.10.2022 According to a report published this week by the Statistical Office of Cyprus (Cystat), the number of trips abroad made by residents of Cyprus in September 2022 is almost..

Bill for quick processing of financial disputes

19.10.2022 On Wednesday, the House Legal Affairs Committee began debating a bill that would create special jurisdiction in district courts to quickly resolve financial disputes. Edek leader Marinos Sizopoulos said..

Cyprus GDP Revision and ASCAME 40th Anniversary

18.10.2022 The gross domestic product (GDP) of Cyprus has been revised up to 24.01 billion euros at current prices for 2021 and to 21.89 billion euros for 2020, according to..

Green Properties takes us on a tour of Wave Residence

17.10.2022 Green Properties invites us on a tour of Wave Residence, an ideal multi-family home consisting of six luxury apartments. Christiana Marissa Kyriakidou, COO of Green Properties Land Developers, spoke..

Cyfield: Ready-to-deliver homes in Latsia and Archangelos

17.10.2022 Unique, modern and ready to rent homes in two of the best areas in Nicosia that Cyfield has on the market. These are the residences of the EVA RESIDENCES..

Deals worth millions for land in the wine village of Agios Ambrosios in Limassol

17.10.2022 Huge tracts of land have been bought in recent months in one of the wine-producing villages of the Limassol region, namely Agios Ambrosios, worth tens of millions of euros...

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..

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