News

2023

  • Property Price & Rental Index Q1 in Cyprus - The 54th quarterly publication of the RICS Cyprus Property Index with KPMG in Cyprus records the property price and rental index, tracking property and rental prices across all Cyprus districts and main property types. Market values year-on-year A year-on-year comparison... more

  • Foreigners choose Cyprus as their new home - Cyprus has been attracting foreigners for tourism, real estate, and business purposes for the past 30 years. This has brought in significant amounts of money into the economy, transferred expertise to locals, and boosted businesses with more affluent clients. However, sin... more

  • Property sales reach €1.7 billion in Q1 2023 - Property sales in Cyprus reached €1.7 billion in the first quarter of 2023, according to data from the Real Estate Agents Registration Board. The property market has maintained its resilience despite the challenges, the Board said. In its quarterly “Property Market Bulletin,... more

  • Saudi Arabia and Cyprus are entering a new era - The Ministry of Finance of the Republic of Cyprus and the Ministry of Investment of the Kingdom of Saudi Arabia signed a Framework Cooperation Program (FCP), aimed at strengthening economic ties and facilitating investment opportunities between the two countries. The 11 March... more

  • Property sales rise 17% - Annual real estate sales rose in the first two months of the year, boosted by the relocation of high-tech firms and their employees. According to the latest Land Registry data, sales documents filed in January-February were 2,222 units from 1,907 in the two months of 2022, re... more

  • Int'l cruise company to open new office in Cyprus - Royal Caribbean Group, one of the world’s largest cruise companies, announced today its plans to open an office in Cyprus. The office will be based in Limassol and will support ship operations as the company looks to develop its Eastern Mediterranean business. “We have foste... more

2022

  • NEW GAS DISCOVERY IN BLOCK 6 - The drilling rig of the ENI-TotalEnergies consortium in the Cyprus EEZ has discovered a new gas field at the Zeus 1 target. This is a larger field than the one discovered by the Italian-French consortium on 22 August in the same block (Block 6). Preliminary estimates indicate... more

  • CY-India sign bilateral cooperation agreements - Bilateral cooperation agreements between the Republic of Cyprus and India were signed on Thursday, December 29 at the Ministry of Foreign Affairs in Nicosia. Indian Foreign Affairs Minister, Dr Subrahmanyam Jaishankar, who is paying a working visit to the island, described the... more

  • October was the busiest cruise month of 2022 - October was the busiest cruise month of 2022 for DP World Limassol, as 29 cruise ships carrying over 46,000 people, berthed at the port and used its passenger terminal.  Between January and October, DP World Limassol accommodated 128 cruise ships and 154,000 passengers,... more

  • Paphos European Capital of Smart Tourism for 2023 - The city of Paphos was officially named the European Capital of Smart Tourism for 2023, according to its Mayor Phedon Phedonos.  In a post on social media, the Mayor said that the result of the EU competition was announced Wednesday in Brussels, where a Paphos Municipality ... more