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  • 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.

  • Cyprus Rent Costs Surpass Mortgage Payments, Revealing Housing Market Shift

    Cyprus Rent Costs Surpass Mortgage Payments, Revealing Housing Market Shift

    cyprus rent — Cyprus rent costs have now matched or surpassed mortgage payments, altering the landscape of housing choices for many citizens. Once, renting was a more affordable option compared to mortgage repayments, but this is no longer the case.

    Interior Minister Constantinos Ioannou highlighted this significant change in a recent discussion with DIKO MP Christos Senekis. He revealed that the rising rental costs have led many to reconsider their housing options. Data shows a drop in the number of displaced individuals applying for rental subsidies, decreasing from 4,509 in 2022 to 3,155 in 2024, while interest in property acquisition has grown.

    “Based on the data maintained, a slight decrease in applicants for rental subsidies and a simultaneous increase in applications for purchasing or construction schemes has been observed over the last three years,” Ioannou stated. This shift suggests that as rental prices climb, more people are opting for home ownership, where mortgage payments are now comparable to monthly rent.

    The government has responded to the upward trend in rents by increasing subsidy amounts by approximately 15% starting on 1 January 2024. This move aims to alleviate some of the financial pressure on those still in need of rental support.

    The KtizO housing scheme, designed specifically for displaced persons, is also in progress. This initiative is expected to cost around €130 million over a decade and aims to provide better housing options for those affected by displacement.

    Ioannou also addressed concerns regarding the outdated income criteria for the Rental Subsidy Scheme, which have remained unchanged for over 15 years. He confirmed that the Service for the Care and Rehabilitation of Displaced Persons has sent a Bill to the Law Office for legal vetting, which aims to revise these criteria.

    The proposed changes include the abolition of certain articles in the Rent Control Law, which govern rental subsidies for displaced individuals. This would pave the way for new assessment criteria regarding income and eligibility for the Rental Subsidy Scheme.

    “With the approval of the Bill, specific assessment criteria will be submitted to the Council of Ministers for approval, which will include both the method of calculating incomes and new tables of income criteria,” Ioannou explained. The goal is to expand the number of displaced beneficiaries eligible for assistance and to ensure the scheme operates more effectively.

    On the financial front, Ioannou reported that over the past three years, more than 90% of the Rental Subsidy budget has been utilised, showcasing the ongoing demand for housing assistance. In 2022, 93.54% of funds were absorbed, followed by 93.76% in 2023, and 85.39% in 2024.

    “Any savings are not left unspent but are transferred to other Housing Schemes for the displaced that relate to the purchase, construction, or repair of a house/apartment,” he noted, highlighting a commitment to ensuring that available funds are maximised to support housing initiatives.

  • Affordable homes — State to Build 500 New Affordable Homes Across Major Cities

    Affordable homes — State to Build 500 New Affordable Homes Across Major Cities

    affordable homes — The state is set to develop 500 new affordable homes to meet the growing housing demand, as President Nikos Christodoulides announced on Tuesday. This initiative aims to provide rental and sale options in Nicosia, Larnaca, Limassol, and Paphos.

    Photo: cyprus-mail.com

    • More details about the project and its timeline will be released in the coming months as the state moves forward with its plans.

    President Christodoulides emphasised the importance of this measure, stating, “This is an important measure that will help to ease the pressure caused by rising housing demand and will significantly contribute to reducing housing costs. It is a plan long requested by social partners and developed in cooperation with them.”

    The new housing units will be priced affordably, with a primary focus on young people looking to enter the property market. This demographic has been particularly affected by the rising costs associated with housing.

    With construction costs estimated at around €70 million, the project will involve using state-owned land valued at over €7 million. The government intends to offer these plots to the private sector through a tender process, ensuring that the construction is carried out efficiently.

    President Christodoulides also highlighted that the rental units will remain under state ownership, which will help maintain affordability in the long term. He noted, “In total, the current government’s investment in housing policy so far exceeds €300 million.” This investment reflects the government’s commitment to addressing the housing crisis and supporting citizens in their quest for affordable living options.

    More details about the project and its timeline will be released in the coming months as the state moves forward with its plans.

  • Morea Residences: Coastal Villas Offering a Unique Living Experience in Cyprus

    Morea Residences: Coastal Villas Offering a Unique Living Experience in Cyprus

    Morea Residences is a gated community featuring 30 private villas that redefine coastal living. With classic Mediterranean design, modern engineering, and smart home systems, these villas provide an ideal blend of comfort and luxury. Each villa boasts its own private pool and is set within beautifully landscaped green areas, all just a short walk from one of Cyprus’s most stunning beaches.

    Photo: cyprus-mail.com

    Morea residences: A Coastal Retreat in Paphos

    Situated in Pegeia, near Paphos, Morea Residences captures the essence of tranquil living by the sea. While Paphos has seen rapid development, Pegeia retains its charm with a unique combination of coastal access and privacy. Residents can enjoy warm days and open spaces, creating an atmosphere conducive to relaxation and reflection.

    Photo: cyprus-mail.com

    Thoughtfully Designed Villas

    Morea Residences features three distinct villa types, catering to various lifestyles. The two-bedroom poolside villas are compact and bright, making them perfect as holiday homes or rental investments. The three-bedroom options offer additional space, with choices between a private pool or a courtyard, suitable for families or longer stays. The six-bedroom villas, located at the top of the site, span three levels and include a private infinity pool, lifts, and breathtaking coastal views.

    Modern Living Meets Natural Beauty

    The design philosophy at Morea is based on harmony with nature. The villas incorporate natural stone and wood, with clean lines and extensive outdoor areas that enhance the living experience. Inside, residents benefit from modern amenities and smart home systems that simplify daily routines, allowing for a more enjoyable lifestyle.

    Community Amenities for a Resort-like Experience

    The shared spaces at Morea Residences contribute to a sense of community, akin to a private resort. A striking 40-metre river-style pool runs through the heart of the development, accompanied by a separate children’s pool, a playground, and a clubhouse ideal for gatherings. Outdoor fitness zones, yoga decks, barbecue spots, and tranquil green corners provide numerous opportunities for relaxation and social interaction.

    Investment Potential in a Thriving Market

    Morea Residences also presents a compelling investment opportunity. The Coral Bay area ranks among the strongest short-term rental markets in Paphos, with consistent demand for modern villas near the beach. With limited two- and three-bedroom homes available in gated communities, the potential for rental income and long-term value is promising. As construction progresses, current pricing reflects advantageous conditions for early buyers.

    A Thoughtful Approach to Coastal Living

    Morea Residences does not aim to revolutionise coastal living; instead, it embodies the concept with clarity and purpose. Designed as a small, well-planned community near the beach, the layout prioritises privacy and comfort for each home. Whether as a full-time residence, a smart investment, or a holiday base, Morea offers something for everyone.

    A Rarity in Today’s Market

    As projects of this scale and location become increasingly scarce, Morea Residences stands out for its quality and vision. It promises a comfortable home by the Mediterranean, crafted with an emphasis on durability and aesthetics. This is a place where residents can enjoy the fundamental joys of life—air, space, and proximity to the sea.

    Morea Residences isn’t just another development; it is a lifestyle choice that resonates with those seeking a harmonious balance between comfort and nature. With its unique features and prime location, it offers a rare opportunity to embrace coastal living in Cyprus.

  • Last Units Available at Shinko Residences in Limassol with Reduced VAT Offer

    Last Units Available at Shinko Residences in Limassol with Reduced VAT Offer

    Shinko Residences at Neapolis in Limassol offers a unique opportunity for homebuyers, with only three units left and a limited-time reduced VAT rate. This modern development, situated just 300 metres from the coastline, caters to those seeking both a luxurious lifestyle and a lucrative investment in one of Cyprus’s most desirable locations.

    Photo: cyprus-mail.com

    Prime Location with Exceptional Amenities

    The final units at Shinko Residences are positioned in Limassol’s vibrant Neapolis district, an area known for its stunning beaches and lively atmosphere. The properties feature cutting-edge engineering combined with elegant design, ensuring bright interiors and functional living spaces. Residents will enjoy proximity to the Mediterranean, enhancing the appeal of these high-yield homes.

    Photo: cyprus-mail.com

    Investment Potential

    With only three units remaining, prospective buyers are encouraged to act quickly. The real estate market in Limassol is on the rise, making this an opportune moment to invest before prices increase further. Shinko Residences promises not only a beautiful home but also significant savings through the reduced VAT rate, making it an attractive option for both local and international investors.

    Details of the Remaining Units

    Buyers can choose from one last third-floor apartment and two luxurious penthouses, each equipped with modern features and specifications that enhance comfort and security.

    • Third-Floor Apartment: €515,000 + VAT
      – Bedrooms: 2
      – Bathrooms: 2
      – Internal Area: 84m²
      – Covered Veranda: 24m²
      – Total Area: 123m²
    • Penthouses: €630,000 + VAT (two units available)
      – Bedrooms: 2+1
      – Bathrooms: 3
      – Internal Area: 84m²
      – Covered Veranda: 24m²
      – Roof Garden: 23m²
      – Total Area: 179m²

    Modern Features

    Each unit at Shinko Residences is designed with high-quality materials and includes a variety of amenities:

    • Solar photovoltaic panels
    • VRV air conditioning systems
    • Underfloor heating with heat pump
    • Electric shutters in bedrooms
    • Pressurised water system
    • Storage room and covered parking
    • CCTV and video entrance system
    • Intruder and fire detection systems
    • Reinforced security doors

    These state-of-the-art features not only enhance the living experience but also contribute to the sustainability of the development, aligning with the modern homeowner’s expectations.

    Experience Shinko Residences Virtually

    To fully appreciate the lifestyle offered at Shinko Residences, potential buyers can take a virtual reality tour of the project. This innovative approach allows interested parties to explore the property from the comfort of their own home, experiencing the sophistication and coastal harmony that await them.

    A Sustainable Future in Real Estate

    Shinko Residences is developed by Tor Properties, a company committed to creating sustainable, high-end living spaces. Their focus on environmental, social, and governance (ESG) principles ensures that each development not only meets the needs of today’s residents but also contributes positively to the community and environment.

    With a strong presence in Limassol, Tor Properties invites buyers to join in a real estate journey that prioritises both quality of life and investment potential.

    Contact for More Information

    For those interested in securing one of the last available units at Shinko Residences, additional information and site viewings can be arranged. Interested parties can reach out via email at info@tor.cy, or contact the team through WhatsApp at +357 96 54 00 00 or by calling 8000 8086.

  • Cyprus Economic Forum Highlights Resilience Amid Global Challenges

    Cyprus Economic Forum Highlights Resilience Amid Global Challenges

    cyprus economic — cyprus economic — The 16th Limassol Economic Forum has become a pivotal gathering for discussing how global disruption is reshaping economies and trade, underscoring the importance of resilience, reform, and leadership for Cyprus and Europe.

    Cyprus economic: Government Strategies for Economic Strength

    Deputy Minister Irene Piki shared the government’s robust strategy, which emphasises reform, investment, and institutional integrity as essential components for building economic resilience. She pointed out that President Christodoulides has prioritised reform as a core agenda, reinforcing Cyprus’ strong economic health characterised by full employment and low inflation.

    Business Leaders Address Market Pressures

    A panel featuring influential business figures, including Elias Neocleous and George Pantelides, addressed various market pressures such as inflation, geopolitical risks, and overregulation. The consensus highlighted the necessity for agility, security, and predictability in the business landscape, with Pantelides advocating for simpler regulatory frameworks to facilitate success.

    Bank of Cyprus on the Move

    Charis Pouangare from the Bank of Cyprus reported a notable increase in lending and highlighted the adoption of scenario planning among businesses to navigate through uncertain times. He emphasised the need for Europe to become more dynamic to keep pace with changing market conditions.

    Calls for Strategic Autonomy in Europe

    House Speaker Annita Demetriou stressed the importance of Europe taking a proactive stance rather than merely reacting to global events. She advocated for strategic autonomy underpinned by economic stability, technological leadership, and defence capabilities.

    Digital Euro Discussions Underway

    In a related event, the Central Bank of Cyprus held its first special session on the digital euro, bringing together key payment service providers ahead of the European Central Bank’s decision on the project’s next steps. George Karatzias, speaking on behalf of the CBC governor, described the meeting as occurring at a decisive moment as preparations for the digital euro advance.

    Real Estate Market Thrives

    The Cypriot real estate market continues to thrive, with 1,669 properties sold to overseas buyers in the past year. Interior Minister Constantinos Ioannou reported significant sales figures, noting that international demand has particularly driven up prices in Paphos, while sales in Limassol and Larnaca reflect diverse buyer interests.

    AmCham Cyprus Welcomes New Leadership

    AmCham Cyprus has announced its newly elected board of directors and president following its annual general meeting. The chamber expressed gratitude to outgoing president Georgios Georgiou for his contributions and welcomed Marios Kapiris as the new president.

    Rental Market Trends

    A recent study by Perprice indicates a rise in rental prices for standard apartments in Cyprus’s major cities, reflecting changing demands in the housing market. The research suggests that standard apartments, accounting for a significant portion of the market, are increasingly sought after.

    Digital Transformation in Public Services

    In a significant move towards digital transformation, the Cypriot government is adopting the electronic invoicing service offered by Jinius. This collaboration marks a milestone in efforts to build a fully digital economy, with government officials expressing confidence in the platform’s reliability and security.

    Tax Department’s Crackdown on Undeclared Income

    The Cyprus tax department has identified about 300 individuals and entities, including foreign residents, who failed to declare income from platforms like OnlyFans. The investigation, prompted by social media monitoring, revealed substantial undeclared earnings, highlighting the need for compliance in the digital age.

    Corporate Developments and Innovations

    Demetra Holdings Plc has announced a buyback of its own shares, while the Cyprus Institute of Neurology and Genetics has secured funding for advanced research tools in precision medicine. These developments reflect ongoing corporate activity and commitment to innovation within the country.

    Future Events Focused on Collaboration and Innovation

    Upcoming events, such as the Cyprus–France Cooperation & Innovation Forum and a training seminar on Augmented Reality and Virtual Reality technologies, aim to foster collaboration and enhance competitiveness in the business sector.