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 […]
Cyprus ranks 18th on index that measures the state of youth around the world
Cyprus is ranked 18th on the 2020 Global Youth Development Index which measures the status of young people in 181 countries around the world, released by the Commonwealth Secretariat on Wednesday. Singapore ranked top for the first time followed by Slovenia, Norway, Malta and Denmark. Chad, the Central African Republic, South Sudan, Afghanistan and Niger […]
Building permits in Cyprus record annual increase in first five months of 2021
Building permits increased by 30.3% in the first five months of the year, compared with the same period of 2020. “During the period January – May 2021, 3,157 building permits were issued compared to 2,429 in the corresponding period of the previous year, recording an increase of 30.0%”, the Cyprus Statistical Service (CyStat) announced on […]
Investing in real estate starts to make sense again
The Cyprus real estate market is finding its legs again, just as, across the globe, the housing market is booming – real estate investment is starting to make sense again. The pandemic threw a monkey wrench into real estate sales just about everywhere. As one major property manager and investor put it: “the entire year 2020 […]
In Cyprus, houses cost more as cost of construction materials climbs
A Cypriot union representative recently declared that homeownership in Cyprus has become an ‘impossible dream’. In Cyprus, the rising cost of construction materials has resulted in property values increasing by an estimated 10 per cent. Speaking to local outlet Stockwatch, Danos Real Estate’s Angelos Constantinou explained that the rise in the price of steel, wood, copper […]
Residential Property Price Index up in the first quarter of 2021
The Residential Property Price Index (RPPI) recorded a recovery in the first quarter of 2021, on a quarterly basis, after two consecutive quarters during which prices fell, according to the RPPI compiled by the Central Bank of Cyprus (CBC). The increase was mainly due to an increase in apartment prices. More specifically, the CPI (houses […]
COVID-19 situation in Cyprus quite good, positivity rate remains stable
The COVID-19 situation in Cyprus is quite good in general in all epidemiological indicators with the positivity rate in the last week remaining stable at 0.1%, according to the National Surveillance Report as of 15 June, published on Friday. Regarding cases diagnosed, there was a shift to younger ages (23.1% and 21.1% of the cases […]