Author: domus

Τax incentives to attract talent and promote headquartering

The Cypriot government on Tuesday approved a bill with tax incentives aiming to attract talent and promote headquartering in Cyprus, in line with the Strategy for Attracting Businesses for Activities or/and Expansion of their Activities in Cyprus approved by the Council of Ministers in October 2021. Furthermore, in statements following a Cabinet meeting, Finance Minister […]

Real Estate Market: Transaction value reached €3,8bn during 2021

PwC Cyprus has launched its latest Cyprus Real Estate Market publication, which provides insights on the performance of the sector during 2021, demonstrating strong signs of recovery, despite the disruption caused by the pandemic and the termination of the Cyprus Investment Program (“CIP”), as of 1 November 2020. According to PwC’s analysis, total transaction value […]

EU’s €657m approval for EuroAsia Interconnector “excellent news for Cyprus”

Now that the ambitious EuroAsia Interconnector project will be completed following EU approval of €657 million the energy isolation of Cyprus – the last non-interconnected member state – will end. This is what Philenews reported on Thursday, hours only after the announcement in Brussels. The project comprises a cross-border interconnector with a total length of […]

CypERC: Cyprus GDP expected to grow by 4.1% in 2022

Cyprus growth is expected to remain robust in 2022 as real GDP is projected to expand by 4.1%, according to “Economic Outlook” for January issued by the Economic Research Centre (CypERC) of the University of Cyprus. Real GDP in Cyprus is estimated to have increased by 5.6% in 2021. In 2022, CPI inflation is projected […]

Apartments keep pushing up residence prices in Cyprus

Residential property prices in Cyprus continued to rise in the third quarter of 2021, primarily driven by apartment purchases, according to Residential Property Price Index released Friday by the Central Bank of Cyprus (CBC). The Index recorded a quarterly increase of 0.5% compared to 0.3% in the second quarter of 2021, while on an annual […]

Eurostat: 70% in 2020 lived in owner-occupied dwellings in 2020

In 2020, about 70% of the population in the EU lived in owner-occupied dwellings, while the remaining 30% lived in rented dwellings, according to data released by Eurostat, the EU’s statistical office. The percentages in Cyprus are in line with the EU average, since 68.6% of the population lived in owner-occupied dwelling (69.7% in the […]

Cyprus government presents new strategy for attracting companies in the country

Cyprus government presented Friday its new strategy to attract companies in the country, placing an emphasis on high-tech, research and innovation companies. The implementation of the strategy is expected to start from January 2022. During a presentation at the Presidential Palace, Cypriot President Nicos Anastasiades said it would be a new important strategy for attracting […]

IMF revised upwards its forecasts for growth of the Cypriot economy

The International Monetary Fund revised upwards the growth rate of the Cypriot economy, compared to its forecasts for last April. According to the World Economic Outlook (WEO) published on Tuesday, the growth rate of the Cypriot economy for 2021 will be 4.8% compared to a recession of 5.1% recorded in 2020. The growth rate was […]

FinMin: Cyprus moves from recovery to growth phase

Cyprus has moved from the recovery to the growth phase as the COVID-19 pandemic subsides, Minister of Finance Constantinos Petrides has said, highlighting the need for the implementation of reforms that would boost the economy’s sustainable growth prospects. Speaking during an online conference organised by the National Betting Authority, Petrides said that sustainable growth will […]