Cyprus Real Estate News

In Cyprus, housing remains a pressing issue. While the government continues to roll out new incentive schemes and planning tweaks every few months, the core problem remains unchanged: there simply aren’t enough homes. Despite the flurry of announcements, residents still struggle to find affordable housing, and experts warn that the situation is only getting worse. […]

The real estate sector in Cyprus is currently waiting to see the potential impact of US President Donald Trump’s trade war with China, Europe, and many other regions. The ripple effects of this so-called trade war could have far-reaching consequences, and the property market is no exception. Cautious optimism or warning signs? Market insiders suggest […]

In a significant move to tackle the ongoing housing shortage, the Cabinet on Wednesday approved key amendments to a special incentives scheme aimed at increasing the supply of affordable homes. The revamped policy is expected to open up new opportunities for developers while also addressing the growing demand for housing among foreign workers. More attractive […]

In a bid to modernise land development and construction across the island, Interior Minister Constantinos Ioannou has announced a wave of legislative reforms designed to streamline processes and strengthen collaboration between the public and private sectors. Speaking at the 15th Nicosia Economic Congress during a roundtable with real estate professionals, Minister Ioannou outlined key initiatives […]

Russian property developer BBF is planning to build a €189 million development project on the historic KEAN soft drinks factory site in Limassol. The project, in the Agios Athanasios area, will include five hi-rise buildings with a mix of office and residential spaces, underground parking, space for shops and businesses, and a central public square. […]

The Chairman of the Parliamentary Committee on Legal Affairs, Justice and Public Order, Mr Nicos Tornaritis, has written to the heads of the Association of Cyprus Banks and the Association of Credit Acquiring Companies (Vulture Funds), asking them to immediately stop property repossessions, auctions, and recoveries involving so-called “Trapped Buyers.” This comes after a Court […]

In the fourth quarter of 2024, house prices in the euro area experienced a year-on-year increase of 4.2%, according to figures published by Eurostat, the official statistical office of the European Union. Across the broader European Union (EU), prices rose even more sharply, with a 4.9% increase when compared with the same period in 2023. […]

The Cyprus Land Development Corporation (KOAG) has announced the availability of affordable apartments, each measuring 75 square metres, at a price of €124,000. This development was revealed on Tuesday during a joint press conference held by Interior Minister Constantinos Ioannou and KOAG Chairwoman Elena Kousiou-Hadjidemetriou, where they discussed the organisation’s ongoing housing initiatives. According to […]

The Cyprus’ high-end property market recovered significantly in February 2025, with the 50 largest transactions across the island totalling €64.8 million, according to a report released on Monday by real estate analytics firm Ask Wire. The ten most expensive property transactions alone reached €36.75 million, with sales in Limassol dominating the list by accounting for […]

The Ministry of Interior has officially launched the “Renovate-Rent” Scheme, opening the door for property owners to receive grants of up to €35,000 to fix up vacant homes — as long as they rent them out affordably. Starting Wednesday, April 9, at 12:00 noon, homeowners can submit applications through the government platform www.prositistegi.cy. The initiative […]

Cyprus’ real estate market saw a notable 19% surge in property sales in March compared to the same month last year, with all districts reporting double-digit increases over March 2024. Sales in Paphos rose by 32%, sales in Larnaca rose 21%, sales in Nicosia were up 18%, sales in Famagusta rose 15% and finally sales […]

The Troika of international lenders expressed concern over Cyprus’ slow progress in reducing legacy Non-Performing Loans (NPLs) and persistent high debt levels. The recent visit of the Troika’s technical delegation to Cyprus once again highlighted the country’s ongoing economic challenges, primarily stemming from a significant stock of legacy Non-Performing Loans (NPLs) and elevated public debt […]

Authorities are taking action to address 1,292 buildings considered to be dangerous and at risk of collapse, posing a threat to public safety. New legislation and increased state funding have been announced to tackle the issue. The affected buildings are spread across Nicosia (618), Limassol (308), Larnaca (170), Famagusta (26), and Paphos (170). MP Marinos […]

Cyprus is preparing for water supply cuts in 2026, as a prolonged drought strains the island’s resources, according to plans revealed by the Water Development Department (WDD). Limassol and Famagusta will be the first districts affected, with water restrictions beginning in February 2026, followed by Paphos in April and Nicosia and Larnaca in May. The […]

The Cyprus property market recorded a strong growth in 2024, with the sales of new homes exceeding €2 billion, according to an analysis by Landbank Analytics. The study, based on contracts of sale submitted to the Department of Lands and Surveys, reveals a strong growth in apartment sales, with a downturn in sales of new […]

Property prices in Cyprus have risen to levels last seen in 2012, just before the banking crisis. The apartment price index has reached a historic high, according to data from the Central Bank of Cyprus. The apartment price index, based on a reference value of 100 in the third quarter of 2024, increased to 113 […]

Local councils and district authorities are hesitant to take responsibility for dangerous buildings as lawmakers prepare new rules giving them greater powers to act. A bill proposed by MP Marinos Mousiouttas suggests cutting off water and electricity to dangerous buildings and stopping owners from renting them out. If owners ignore safety warnings, authorities would be […]

Cyprus is experiencing its worst water crisis since 2008 when the government was forced to import water from Greece by tanker. In response, the island is rapidly expanding its desalination capacity through floating and land-based units. To ensure adequate water supply for domestic and agricultural use, authorities are accelerating efforts to expand the island’s desalination […]

A new high-rise project along the Limassol coastline valued at €22 million has been given the green light by the Environment Department. The proposed building, developed by P.G. Economides Properties Ltd, will reach a height of 87 metres and will serve as a mixed-use office and commercial space. According to the architectural plans, the development […]

The Cypriot property market remains resilient and is poised for a “golden era,” according to industry experts at the 19th Property Development & Construction Conference and Exhibition. The round-table discussion, titled “Cyprus Real Estate 2025 – How are values fluctuating and Expectations for the Future?” explored the sector’s stability, investment trends, and growth prospects. Market […]