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Category: News

  • Cyprus Business Update: Eurobank’s €400 Million Bond and Thriving Property Market

    Cyprus Business Update: Eurobank’s €400 Million Bond and Thriving Property Market

    cyprus business — Cyprus’s business landscape is showing robust signs of growth, with Eurobank announcing a significant €400 million bond issuance alongside a flourishing property market.

    • cyprus business — Cyprus's business landscape is showing robust signs of growth, with Eurobank announcing a significant €400 million bond issuance alongside a flourishing property market.
    • Investors can expect a fixed coupon of 4.125 per cent per annum, providing a steady return until the first reset date.
    • Hadjimanolis highlighted that the sector stands at a pivotal point, where leveraging technology and innovation can foster a sustainable future.
    • At the EU level, emissions intensity declined by 34 per cent during the same period, with Cyprus among the countries demonstrating substantial progress.
    • While the euro area's debt-to-GDP ratio rose to 88.5 per cent, Cyprus's decline is indicative of its strong fiscal management and economic stability.

    Cyprus business: Eurobank’s Bond Issuance

    On Friday, Eurobank S.A. confirmed the successful pricing of €400 million in fixed rate reset subordinated tier 2 notes. This issuance represents a major funding milestone for the bank, reflecting strong international investor demand.

    The notes, which are set to mature on April 29, 2037, will provide Eurobank with long-dated capital to meet its regulatory and funding requirements. The structure allows for the notes to be callable at par between January 29, 2032, and April 29, 2032, under the designation of 11.25NC6.25.

    Investors can expect a fixed coupon of 4.125 per cent per annum, providing a steady return until the first reset date.

    Real Estate Market Growth

    In parallel, the Cypriot real estate sector has recorded impressive growth. According to the Real Estate Agents Registration Council, the total value of property transfers in 2025 surpassed €4.7 billion, with a notable 15 per cent increase in sales documents compared to the previous year.

    Data from the Department of Lands and Surveys indicates that 18,114 sales documents were filed nationwide from January to December 2025, up from 15,797 in 2024. While the volume of transfers rose marginally by 0.77 per cent, the total value saw a substantial increase of around 10 per cent, indicating a shift towards higher-value properties.

    Marinos Kineyirou, president of the Real Estate Agents Registration Council, remarked, “The picture of 2025 is the clearest proof of the resilience and attractiveness of the real estate sector,” highlighting its capacity to absorb shocks from the global environment and return to a strong growth trajectory.

    Improving Banking Sector

    The Central Bank of Cyprus reported a decline in the non-performing loan ratio, showcasing ongoing improvements in the banking sector. By the end of October 2025, the non-performing loans ratio, excluding loans to central banks and credit institutions, fell to 4.2 per cent, down from 4.5 per cent in September 2025.

    Using the European Banking Authority Risk Dashboard methodology, which includes loans and advances to central banks and credit institutions, the ratio dropped to 2.1 per cent in October, down from 2.3 per cent in September, confirming a consistent downward trend in credit quality.

    Merger Notification in Banking

    In a related development, the Cyprus Commission for the Protection of Competition announced it had received a merger notification concerning the acquisition of a portfolio of non-performing loans from Alpha Bank Cyprus Limited. Cerberus Capital Management L.P., through Delta Credit Purchaser Limited, is set to acquire this portfolio, prompting a review by the competition authority.

    Resilience in the Shipping Industry

    Despite ongoing operational challenges, Cyprus’s shipping sector is demonstrating resilience. Shipping Deputy Minister Marina Hadjimanolis addressed industry representatives at the 3rd CSN Cyprus Shipping Debate in Limassol, discussing the unique challenges and emerging opportunities for the maritime sector in 2026.

    Hadjimanolis highlighted that the sector stands at a pivotal point, where leveraging technology and innovation can foster a sustainable future.

    Environmental Progress

    On the environmental front, Cyprus has reported significant reductions in greenhouse gas emissions. Eurostat data indicated that the intensity of greenhouse gas emissions fell by 28.9 per cent between 2013 and 2024, showcasing the country’s progress in decoupling economic growth from emissions.

    At the EU level, emissions intensity declined by 34 per cent during the same period, with Cyprus among the countries demonstrating substantial progress.

    Reduction in Government Debt

    Cyprus has also achieved one of the largest reductions in government debt across the European Union, with the general government gross debt to GDP ratio decreasing by 6.1 percentage points in the third quarter of 2025 compared to the previous year. This marks the third-largest decrease within the EU.

    While the euro area’s debt-to-GDP ratio rose to 88.5 per cent, Cyprus’s decline is indicative of its strong fiscal management and economic stability.

    Bilateral Trade and Investment Momentum

    The upcoming Cyprus-India Business and Investment Summit, scheduled for January 28 in Mumbai, is generating significant interest, with registrations surpassing 400. This summit aims to strengthen bilateral trade ties and position Cyprus as a gateway for Indian companies targeting European markets.

    The event will showcase Cyprus’s appeal as an international business centre, leveraging its EU membership, stable legal environment, and competitive tax structure.

    Fiscal Performance of Cyprus

    According to Eurostat, Cyprus recorded a provisional general government surplus of 2.4 per cent of GDP in the third quarter of 2025, contrasting with the broader euro area, where the deficit rose to 3.2 per cent during the same period.

    This surplus, slightly down from 2.5 per cent in the previous quarter, reflects Cyprus’s strong fiscal position, having recorded notable surpluses in previous quarters.

    Support for Women-led Startups

    The Cyprus Chamber of Commerce and Industry (Keve) is facilitating the WE-RISE Open Call 2, aimed at empowering women-led deep-tech startups in the GreenTech, AgriTech, and ClimateTech sectors. This initiative, part of the Horizon Europe programme, seeks to support 20 women-led tech startups from the EU and associated countries.

    Upcoming Tax Reforms Presentation

    Lastly, Keve announced a presentation on Cyprus’s new tax reform, scheduled for March 6, 2026, in Athens. This session aims to inform the Greek business community about changes in the tax system that will become effective from January 1, 2026.

  • Larnaca stabbing: Injured Man in Larnaca Sparks Police Investigation into Possible Stabbing

    Larnaca stabbing: Injured Man in Larnaca Sparks Police Investigation into Possible Stabbing

    larnaca stabbing — larnaca stabbing — An injured man in Larnaca has prompted a police investigation into a possible stabbing incident. The victim was taken to Larnaca General Hospital following the altercation that occurred today at around 5 p.m.

    • The local community is shaken by the incident, as incidents of violence are relatively uncommon in the area. Residents are urged to remain vigilant and report any suspicious activity to the police.
    • As the investigation unfolds, police have not disclosed whether any arrests have been made. Further updates are expected as the CID continues their inquiries.

    Reports indicate that the injuries sustained by the victim are believed to be knife-related. The incident reportedly arose from a dispute between the victim and a suspect, who is alleged to have drawn a knife during their confrontation.

    The Larnaca Criminal Investigations Department (CID) is actively looking into the circumstances surrounding the case. Authorities have not released details regarding the identity of the victim or the suspect at this time.

    The local community is shaken by the incident, as incidents of violence are relatively uncommon in the area. Residents are urged to remain vigilant and report any suspicious activity to the police.

    As the investigation unfolds, police have not disclosed whether any arrests have been made. Further updates are expected as the CID continues their inquiries.

  • Fatal Car Accident in Limassol Claims Life of 63-Year-Old Driver

    Fatal Car Accident in Limassol Claims Life of 63-Year-Old Driver

    A tragic car accident in Limassol has resulted in the death of a 63-year-old driver, identified as Giorgos Michael from Zakaki village. The incident occurred around 4.30pm on Thursday, with police suggesting that a possible cardiac arrest may have contributed to the collision.

    Witnesses reported that Michael’s vehicle unexpectedly veered to the right before crashing into an oncoming pickup truck, which was being driven by a 70-year-old. Eyewitness accounts indicate that there was no apparent increase in speed prior to the accident.

    Emergency services arrived shortly after the crash, but Michael was found unconscious and tragically succumbed to his injuries en route to a Limassol hospital. A police spokesman confirmed that they are investigating the circumstances surrounding the accident but emphasised that they are not ruling out medical causes as a factor.

    Authorities noted that Michael was wearing his seatbelt at the time of the accident, and there were no visible signs of external trauma on his body. A post-mortem examination is scheduled for Friday to ascertain the exact cause of death and provide further clarity on the situation.

  • Alarm Bells Ring for Wild Mushroom Foraging in Cyprus

    Alarm Bells Ring for Wild Mushroom Foraging in Cyprus

    Alarm bells are ringing for wild mushroom foraging in Cyprus as climate change increasingly impacts the region’s forests. This year’s picking season has been disappointing, attributed largely to the rising temperatures and drying conditions affecting the island’s biodiversity. During visits to familiar foraging spots around Vavatsinia, Lythrodondas, and Troodos, the signs of distress in the forests became alarmingly apparent.

    Photo: cyprus-mail.com

    Wild mushroom: Forest Conditions Reveal Climate Change’s Toll

    Last week, I traversed one of my favourite forest routes from Vavatsinia to Kyprovasa, passing by Lefkara dam. The landscape bore witness to extensive tree felling and numerous dead trees, including mature Calabrian pines (Pinus brutia), which I realised had succumbed to drought. This phenomenon is most pronounced on south-facing slopes, where the soil dries out and the water table drops below the reach of tree roots.

    Photo: cyprus-mail.com

    Equally concerning was the low water level in Lefkara dam, which stands as a stark reminder of the ongoing challenges faced by Cyprus’ natural resources. The Cyprus Institute has highlighted a grim forecast: from 2020 to 2050, the number of extremely hot summer days in Cyprus is expected to increase significantly, with maximum temperatures exceeding 38˚C for an additional two weeks annually. By the century’s end, Nicosia could experience two additional months of such heat, mirroring conditions currently found in cities like Cairo.

    Consequences of Drought and Poor Foraging Practices

    The dire state of water resources is further illustrated by the Kouris dam, which is at less than 11% capacity. Compounding these challenges are the remnants of last summer’s wildfires, which have left slopes exposed and vulnerable to soil erosion. The lack of vegetation cover is particularly alarming.

    While climate change plays a significant role in the current foraging conditions, irresponsible foraging practices contribute to the problem. It is disheartening to witness individuals using rakes to forage for mushrooms, uprooting the delicate ecosystem of leaves and twigs. This method disrupts the life cycles of countless insects and prevents fungi from distributing their spores. Despite strict regulations prohibiting such practices, including potential prison sentences of up to one year or fines of up to €5,000, the destructive behaviour persists.

    The Challenges of This Year’s Harvest

    This year’s wild mushroom harvest has been particularly poor due to late rains that arrived too close to colder temperatures. Fungi require a specific temperature range of 10 to 13°C for optimal growth. When conditions are cold and wet, mushrooms can become waterlogged and mouldy before they have a chance to flourish.

    Among the most sought-after varieties is the ‘milk cap’ mushroom, or Lactarius deliciosus, known locally as the red pine mushroom. While many Cypriots are familiar with this delicacy, I also enjoy foraging for other Russula varieties. However, I advise caution, as some, like the pink-capped ‘sickener’, can cause adverse stomach reactions if consumed by the untrained. One of my preferred mushrooms is the ‘Slippery Jack’ (Suillus luteus), which I prepare by slicing and drying for use in soups and risottos.

    The Broader Implications of Climate Change

    Sadly, the lack of wild mushrooms is only one consequence of the broader environmental crisis facing Cyprus. As temperatures and drought conditions intensify, the island’s ability to cope will be severely tested. It is imperative that we acknowledge the gravity of these changes and accept the sacrifices necessary to address them.

    In my efforts to raise awareness about the issues plaguing Cyprus’ forests, I have received considerable feedback. Roger Cartwright, from the UK’s Landscape Trust, noted the visible impact of extreme summer climates on south-facing slopes during a recent study visit to the Cyprus Forestry Department. Additionally, Evgenia Emets, a former participant in the ‘Guardians of the Forest’ programme, emphasised the need for more forests that can generate and protect water resources.

    Strategies for Managing Water Resources and Forests

    As we confront these challenges, several strategies could help mitigate the impact of climate change on Cyprus’ environment:

    • Encourage tourists to conserve water, suggesting alternatives like swimming in the sea instead of frequent showers.
    • Support initiatives to recycle non-potable water from sources such as roofs, washing machines, and swimming pools.
    • Advise against planting trees on south-facing slopes, and promote the planting of native species that are better suited to withstand heat and drought.
    • Reduce the cultivation of Calabrian pines, as they are particularly vulnerable to changing climatic conditions.
    • Restrict the drilling of new wells to protect groundwater resources.
    • Evaluate the sustainability of swimming pools and excessive car washing in residential areas.
    • Limit the construction of water-intensive golf courses and promote alternative agricultural methods, such as hydroponics.
    • Encourage the storage of water in underground tanks and cisterns, which are more efficient than open reservoirs.
    • Address leaks in the water transport infrastructure to reduce wastage.

    These are challenging times for Cyprus, and as the climate crisis intensifies, it is vital we take action to protect our natural resources and the environment. The future of our forests and the delicate ecosystems they support depends on our willingness to adapt and preserve.

  • Women on Quad Bikes Target Farms for Produce Theft in Paphos

    Women on Quad Bikes Target Farms for Produce Theft in Paphos

    An organised crop theft ring has resurfaced in villages around Laona in the Paphos district, with women on quad bikes stealing produce and selling it immediately to waiting buyers, according to new police complaints.

    • The scheme, initially uncovered by Phileleftheros last April, had seen a temporary halt before resuming recently, as detailed in complaints filed to local law enforcement and officials.

    The scheme, initially uncovered by Phileleftheros last April, had seen a temporary halt before resuming recently, as detailed in complaints filed to local law enforcement and officials.

    Reports indicate that women working in farms and local businesses are riding quad bikes into fields, stealing crops, and selling them on the spot to accomplices nearby. This troubling trend has become a growing concern among local farmers and residents.

    The operation came to light when a farmland owner discovered a stranger on a quad bike in her field. Upon being noticed, the woman began taking photographs with her mobile phone. When questioned about her presence, she claimed she was merely photographing the surroundings.

    However, the landowner had already observed large quantities of her crops cut and placed in bags next to the quad bike. After leaving to inform her relatives, she witnessed a commercial vehicle arrive, from which an unknown man emerged. The woman approached him with the stolen produce, which led to a startling exchange.

    The buyer initially offered her €20, but after a brief confrontation, he increased the amount to €40 before driving off with the stolen goods. The landowner managed to photograph the quad bike before it left and subsequently filed a complaint with the police.

    Other plantation owners have reported similar incidents, indicating that this operation is systematic and well-organised. Local residents have also voiced their concerns to officials, prompting MP Chrysanthos Savvides to confirm the reports and highlight the existence of an organised gang targeting the area.

    Farmers and residents from Drouseia and surrounding areas have expressed frustration, stating that women on quad bikes frequently invade farms, cut crops, and sell them within minutes to buyers arriving in vehicles. This rapid turnover has raised alarms about the need for increased vigilance and protective measures for local agriculture.

  • Jealousy-Fuelled Cleaver Attack Leaves Victim with Severed Thumb

    Jealousy-Fuelled Cleaver Attack Leaves Victim with Severed Thumb

    cleaver attack — A 33-year-old man has been remanded for eight days following a brutal cleaver attack that left his ex-wife’s partner severely injured, including the severing of his thumb. This shocking incident took place in Tersefanou and appears to have stemmed from personal jealousy.

    Photo: in-cyprus.philenews.com

    According to reports, the suspect was arrested around midday after allegedly attempting to murder a 40-year-old man and assaulting his ex-wife, aged 46. Larnaca District Court ordered the man’s detention following the violent altercation.

    Photo: in-cyprus.philenews.com

    The incident unfolded early yesterday morning when the ex-wife alerted the police at approximately 7:15 am. She reported that her former husband had entered her flat through the balcony door, initiating a violent confrontation with both her and her new partner.

    During the attack, the 33-year-old is said to have grabbed a cleaver from the kitchen and inflicted severe injuries on the 40-year-old. The victim’s attempts to escape through the balcony were thwarted, leading to further assaults.

    As the assault continued, the suspect allegedly turned his rage towards his ex-wife, issuing threats against her life. In a desperate bid to flee, she managed to reach the building’s car park, where police later found her. The attacker, however, managed to escape the scene.

    The 40-year-old victim was rushed to Larnaca General Hospital, where medical professionals discovered the extent of his injuries. He suffered the complete amputation of his left thumb, an incomplete amputation of his right thumb and index finger, and numerous contusion wounds on his hands, back, and head. Due to the severity of his condition, he was subsequently transferred to Nicosia General Hospital, where he remains in serious condition.

    Details emerging from the investigation suggest that the attack was triggered by the suspect’s jealousy after learning about his ex-wife’s new relationship. The police are currently probing multiple offences, including attempted murder, grievous bodily harm, carrying a knife, and burglary.

  • Larnaca clash: Axe-Wielding Mob Clashes in Central Larnaca, Gunshots Ring Out

    larnaca clash — larnaca clash — An axe-wielding mob clashed in central Larnaca, creating chaos just 100 metres from the local police headquarters. The violent encounter unfolded on Grigori Afxentiou, the city’s busiest street, as terrified passers-by looked on.

    • Witnesses reported that the violence erupted without warning, leading to a chaotic environment. Many bystanders fled the scene in fear as the sounds of shouting and gunfire echoed around them.

    Video footage obtained by philenews captures the shocking scene, with individuals brandishing axes and crowbars. The altercation escalated quickly, with gunshots fired, leading to damage to nearby vehicles.

    Witnesses reported that the violence erupted without warning, leading to a chaotic environment. Many bystanders fled the scene in fear as the sounds of shouting and gunfire echoed around them.

    The identity of the attackers remains unknown, and local authorities are investigating the incident. Eyewitnesses have described the atmosphere as tense, with the sudden outbreak of violence leaving many in shock.

    As the police continue to gather evidence and assess the situation, a manhunt has been launched to apprehend those responsible for the violent clash. The incident has raised concerns about public safety in an area typically regarded as secure.

    Local residents expressed their alarm over the violence occurring so close to the police station, emphasising the need for increased security measures. As Larnaca attempts to return to normalcy, the community is left grappling with the aftermath of this troubling event.

  • Gaza peace — Greece and Cyprus Join Trump’s Gaza Peace Council

    Gaza peace — Greece and Cyprus Join Trump’s Gaza Peace Council

    gaza peace — Greece and Cyprus have received invitations from Donald Trump to join a Peace Council that will oversee Gaza’s temporary governance. As two of the 25 founding members, their participation marks a significant moment in international relations, particularly concerning the eastern Mediterranean and the Middle East.

    Gaza peace: New Developments in Gaza Governance

    According to reports from Greek media, the Peace Council includes all participants from the historic Sharm El-Sheikh ceremony. This gathering features notable countries such as France, Canada, various Gulf states, and Turkey, highlighting a united front in support of Gaza’s future.

    Strengthening Regional Influence

    The inclusion of Greece and Cyprus in this council is seen as a boost to their international standing. It underscores their growing role in key geopolitical matters, particularly in the context of ongoing tensions and developments in the region.

    Structure and Objectives of the Peace Council

    The Peace Council is part of the second phase of Trump’s Gaza peace plan, which operates under UN Security Council Resolution 2803. Its primary aim is to provide international oversight during Gaza’s transitional governance and to support stabilisation efforts necessary for implementing the peace agreement.

    Transitional Bodies Established

    To facilitate the work of the Peace Council, two transitional bodies have been created. The Executive Committee will manage the political and operational aspects of the Gaza agreement, while a Palestinian national technocratic committee has been tasked with temporarily governing Gaza during this transition.

    Leadership in the Peace Process

    In a strategic move, former Bulgarian diplomat N. Mladenov has been appointed as the High Representative. His role will involve coordinating the activities of the transitional bodies and the Peace Council, aiming to ensure a smooth governance transition in Gaza.

    International Support and Collaboration

    The Turkish presidency has confirmed that Trump has also invited President Recep Tayyip Erdoğan to join the Peace Council. This invitation further illustrates the collaborative nature of the council, with various nations coming together to address the complex challenges facing Gaza.

    The Peace Council’s formation signifies a commitment to stabilising the region and fostering cooperation among nations with vested interests in Gaza’s future governance. As the situation evolves, the roles of Greece, Cyprus, and other member nations will be crucial in shaping the outcomes of this ambitious peace initiative.

  • Rain and — Cyprus Faces Rain and Mountain Snow as Temperatures Drop

    Rain and — Cyprus Faces Rain and Mountain Snow as Temperatures Drop

    Cyprus will experience rain and mountain snow as temperatures drop this weekend. On Saturday, the island is set to be mainly cloudy, with local rain and a chance of brief isolated thunderstorms occurring primarily after midday. The Troodos mountain range is expected to see sleet or snow, adding a wintry touch to the landscape.

    The winds will start off variable and light at 3 Beaufort, but are forecasted to shift to a mainly north-easterly direction later in the afternoon, increasing to light to moderate speeds of 3-4 Beaufort. This change in wind might bring a slight chill to the air, particularly as temperatures begin to decline.

    In terms of temperatures, the inland areas will reach around 15°C, while coastal regions are expected to see slightly warmer conditions at around 18°C. However, the higher elevations will be considerably colder, with temperatures dropping to about 5°C. Such variability highlights the diverse climate conditions across the island.

    Looking ahead to Sunday, rain is anticipated along with the possibility of snow or sleet in the higher mountains, further complicating the weather situation. As the weekend progresses into Monday, increased cloud cover is expected, particularly in the mountains and the southern regions of Troodos, which may bring isolated rain showers.

    Tuesday, in contrast, is predicted to be mainly clear, offering a brief respite from the unsettled weather. The temperatures will continue to show a gradual decline until Monday, before experiencing a slight rise on Tuesday, although they will remain below the seasonal average.

    For residents and visitors, this weekend’s forecast underscores the importance of staying prepared for rapidly changing weather conditions, particularly in the mountainous areas where snow can impact travel and outdoor activities.

  • Ioannou Commits to Tackling EU’s Housing Crisis During Cyprus Presidency

    Ioannou Commits to Tackling EU’s Housing Crisis During Cyprus Presidency

    Interior Minister Constantinos Ioannou has pledged to address the EU’s rapidly worsening housing problem during Cyprus’ six-month presidency of the Council of the European Union. He highlighted the urgency of affordable housing as a critical issue affecting all 27 member states.

    Speaking on Friday, Ioannou stressed that while housing policy is primarily a national responsibility, the growing challenges faced by many European citizens in accessing affordable and sustainable housing necessitate a coordinated response from the EU. “The increasing difficulty for a large number of European citizens to secure access to affordable and sustainable housing makes a coordinated European response necessary,” he stated.

    The upcoming appointment of Dan Jorgensen as the European housing commissioner by European Commission President Ursula von der Leyen in 2024 underscores the recognition of the housing crisis at the highest political levels within the EU. Ioannou noted, “Addressing the housing crisis is a complex undertaking, but there is strong political will for cooperation so that the crisis can be turned into an opportunity for the EU, for the benefit of European citizens.”

    To facilitate discussions on this pressing issue, Cyprus will host an informal ministerial meeting on housing in May. This meeting aims to bring together EU officials to strategise on effective solutions. Additionally, the European Commission released a plan last month specifically targeting affordable housing, which is structured around four key pillars.

    Housing crisis: Four Pillars of the Housing Plan

    The first pillar focuses on boosting housing supply. The Commission aims to enhance productivity and innovation in construction by promoting advanced materials and methods, including offsite and modular construction. They plan to cut red tape to expedite housing supply through a new “housing simplification package.” This initiative seeks to reduce administrative burdens and improve cost efficiency in permitting and renovation processes.

    Investment Mobilisation Strategies

    To mobilise investment, the Commission proposes the creation of a new “pan-European investment platform” that will collaborate with the European Investment Bank and various national and regional financial institutions. Furthermore, a revision of state aid rules is on the cards, allowing member states to implement social and affordable housing projects more swiftly, without the need for prior approval from the Commission.

    Immediate Support and Market Regulations

    The third pillar aims to provide immediate support while also driving necessary reforms. This includes addressing issues stemming from short-term rentals, such as those offered by platforms like Airbnb, which have been contributing to local housing affordability problems. The Commission plans to introduce new legislative measures to balance the benefits of tourism with the housing needs of local populations.

    Additionally, the plan addresses speculation in the housing market, promoting transparency and identifying speculative behaviours that may be distorting market conditions. Structural reforms in areas such as spatial planning and taxation are also encouraged to streamline processes and enhance housing supply across the EU.

    Support for Vulnerable Groups

    Lastly, the plan prioritises the protection of the most affected populations. It aims to mobilise investments for student housing and develop innovative housing models tailored for young people and those from disadvantaged backgrounds. The Commission has committed to expanding social housing and implementing measures to prevent and address homelessness effectively.

    Through these initiatives, Ioannou and the EU aim to tackle the growing housing crisis, transforming it into an opportunity for improvement within the bloc. As Cyprus takes on its presidency, the focus will undoubtedly remain on fostering collaboration and implementing solutions that benefit European citizens.