Cyprus Business Now: Larnaca tourism, real estate market, government deficit
Larnaca’s Tourism and Real Estate BoomLarnaca has emerged as a popular location for European baby boomers, ranking first in a TUI poll based on visitor feedback. The city’s popularity stems from its combination of seaside beauty and cultural activities, such as excursions to the Troodos highlands and the villages of Lefkara and Fikardou. This demographic […]
“Προχωρά η διαδικασία υλοποίησης του yacht club στη Λάρνακα”
The government of Cyprus is advancing the process for establishing a luxury yacht club at the marina of Ayia Napa. This project is seen as a significant investment aimed at boosting tourism and the maritime sector in the region. The yacht club will offer high-end services to yacht owners, providing amenities such as berthing, refueling, […]
“Green Light for New University School in Larnaca – President Christodoulides’ Announcement Applauded”
President Nikos Christodoulides officially announced the creation of a new university school in Larnaca, which was warmly received by local officials and the public. The school, under the Cyprus University of Technology (TEPAK), will focus on Marine Sciences, Technology, and Sustainable Development, and will be located in the Mackenzie area. It is set to open […]
Larnaca-Dhekelia coastline
“A journey from industrial hub to innovation” “For decades, the Larnaca-Dhekelia road was a symbol of industry. The rhythmic hum of oil tankers and the silhouette of towering fuel tanks defined this coastal stretch. But today, a new vision rises from its industrial past—a future brimming with possibility. The Lefkaritis Group were the first to […]
Construction Boom in Pyla
“Η Πύλα αυτή τη στιγμή έχει από τους πιο ψηλούς ρυθμούς ανάπτυξης παγκύπρια” ανέφερε στον «Φ» ο πρόεδρος του Κοινοτικού Συμβουλίου, Σίμος Μυτίδης. Νατάσα Χριστοφόρου για Philenews https://www.philenews.com/kipros/koinonia/article/1543133/ikodomikos-orgasmos-stin-pila/
Cyprus Property Market: Steady Growth with Challenges Ahead
The Cyprus property market is expected to experience moderate growth in the coming years, according to an article by Kyriacos Kiliaris from Danos International Property Consultants & Valuers Danos International Property Consultants & Valuers published in the Financial Mirror Financial Mirror. While foreign investment remains strong, rising construction costs and challenges for local buyers are […]
ECB Survey: Inflation Expectations Anchored, Growth Outlook Improves
The latest ECB survey of professional forecasters predicts stable inflation around 2% for the next few years, with a slight upward revision for economic growth in 2024. “Read the full press release here“
Cyprus Court Ruling Reveals Past Risks, Experts Offer Safeguards for Future Homebuyers
A recent Court of Appeal decision in Cyprus sheds light on a past practice that left some homeowners vulnerable. The ruling clarifies that banks can potentially foreclose on properties previously mortgaged by developers, impacting “trapped buyers” who haven’t received full ownership despite paying for the property. While this is a significant concern for affected homeowners, […]
Construction Material Prices in Cyprus Continue to Decline
The Construction Materials Price Index (CMPI) in Cyprus recorded its eleventh consecutive annual decline in June 2024, driven primarily by decreases in metal products and iron. According to data released by the Statistical Service of Cyprus (Cystat), the CMPI for June 2024 stood at 117.47 units (with 2021 as the base year), representing a 0.10% […]