Cyprus's public debt is now expected to drop to approximately 50% of its Gross Domestic Product by the end of 2025, a forecast that significantly surpasses previous government targets. Finance Minister Makis Keravnos announced the revised projection on Wednesday, noting that the rapid debt reduction will free up funds for development and defence spending. European Commission's Positive Assessment The...
The Cypriot government is proceeding with a comprehensive tax reform designed to create a more stable and transparent system that attracts foreign investment and enhances local entrepreneurship, the Ministry of Finance has confirmed. As part of an ongoing "extensive consultation" on the matter, Finance Minister Makis Keravnos is scheduled to hold a joint meeting with leaders and representatives from all...
The Cyprus real estate market has demonstrated significant resilience in early 2025, with strong demand from foreign investors and stable prices creating a robust environment. However, this stability is creating affordability challenges for local buyers, according to a statement released Monday by Marinos Kineyirou, president of the Cyprus Real Estate Agents Registration Council. Market Drivers and Price...
Cyprus has been ranked as the fifth-best country in Europe for entrepreneurs relocating from abroad, establishing it as a promising hub for new businesses, according to a new report by research firm William Russell. The study, titled "Best European Countries to Start a Business as an Expat," highlights the island's high startup survival rate and strategic Mediterranean location as key advantages for...
The European Union's construction sector displayed conflicting trends in June 2025, recording a modest decrease compared to the previous month while still maintaining solid growth on an annual basis, according to the latest figures from Eurostat. Monthly and Annual Performance Seasonally adjusted production in the construction sector decreased by 0.5% in the EU and by 0.8% in the euro area in June...
The global real estate sector is poised for a rebound in dealmaking in 2025 following a period of volatility, but the recovery will be shaped by investors shifting towards alternative assets and tempered by significant global political uncertainties, according to a new report from consulting firm PwC. While brokers express cautious optimism about stabilizing market conditions, the report warns that...
An analysis of construction costs in Cyprus reveals that hotels are the most expensive buildings to construct per square metre, significantly outpacing other commercial and residential properties, according to new data from the Statistical Service. The report, which examines the average cost for privately developed buildings completed in 2023, shows that medical clinics and tourist apartments rank as...
The Cypriot real estate market is demonstrating significant resilience and stability in 2025, characterized by strong demand from both foreign and domestic buyers and a more measured pace of price growth compared to the rest of Europe. However, this stability is contrasted by growing concerns over housing affordability for the local population. Key Market Drivers and Trends According to an analysis by...
Cyprus registered the lowest annual inflation rate in the entire European Union in July, with consumer prices holding nearly flat at just 0.1%. This figure stands in stark contrast to the broader inflation seen across the Eurozone, according to data published Wednesday by Eurostat and the Cyprus Statistical Service (CyStat). While Cyprus experienced near-zero inflation, the annual rate for the Euro area...
Cyprus's tourism sector continued its impressive growth trajectory in July, with visitor arrivals climbing by 6.9% compared to the same month last year. This surge brings the total increase for the first seven months of 2025 to 10.4%, solidifying a strong year for the island's key industry, according to data released Tuesday by the Cyprus Statistical Service (CyStat). Inbound Tourism Breakdown In...
