Author: domus

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 […]

Building permits in first half of 2021 mark significant recovery

Building permits issued in the first half of 2021 marked significant recovery compared with the Covid-hit first half of last year, while exceeding the respective levels of the first half of 2019, according to data released by the Statistical Service of Cyprus (Cystat). According to Cystat, during the period January – June 2021, 3.990 building […]

Resumption of exploratory drillings in EEZ at final stage of preparation

he Energy Ministry is at the final stage of preparations for the resumption of exploratory drillings in the Exclusive Economic Zone of Cyprus (EEZ), said on Tuesday the Minister of Energy, Trade and Industry Natasa Pilidou. Replying to journalists’ questions in the Parliament, Pilidou said that specific dates have been set, with the ExxonMobil – […]

Cyprus at a crossroads: The journey to becoming Europe’s newest tech island

Cyprus has earned its fair share of poetic nicknames throughout the years: it has been dubbed the jewel of the Mediterranean and the mythical birthplace of Aphrodite. With its rich history and stunning nature, tourism used to be at the forefront of the Cypriot economy. But the country has come a long way since then, […]

Economy recorded an impressive 12.8% growth rate in Q2

The economy of Cyprus grew by an impressive 12.8% in the second quarter of 2021, the Statistical Service reported Tuesday. “According to the Flash Estimate compiled by the Statistical Service, the GDP growth rate in real terms during the second quarter of 2021 is positive and it is estimated at 12.8% over the corresponding quarter […]