Rental property investments in Cyprus are generating significantly higher returns than bank deposits, with rental yields ranging from 4 to 6 per cent compared to the average bank deposit rate of 1.98 per cent for one-year household deposits, according to October data. Property consultancy Danos International reports that Limassol, which has seen the highest rent increases in recent […]

It takes around eight months to complete a house purchase in Greece, while in Italy it takes 120 days and in Cyprus only up to four days. Issuing a property identification number without the competent authorities having been digitized is the biggest problem. Almost one in two residences shows some surface discrepancy, between how it […]

The total weight of goods transported by road within Cyprus increased by 9.1 per cent during the second quarter of 2024 compared to the same period in 2023, according to a report from the Cyprus Statistical Service (Cystat). In addition, the report showed that road freight to and from Cyprus also saw a rise, with […]

Tourist arrivals in Cyprus reached 3.73 million visitors in the first ten months of 2024, reflecting a 4.6 per cent increase compared to the same period in 2023. This also represents a modest 0.81 per cent rise compared to the record-breaking year of 2019, according to a report released on Monday by the Cyprus Statistical Service (Cystat). October […]

Revellers flocked to both sides of the Tonle Sap River in front of the Royal Palace to witness the thrilling boat races on the final day of the three-day Water Festival. Despite the scorching heat, many spectators shielded themselves with hats and umbrellas as excitement filled the air. Authorities reported that over 1 million people […]

In the cruise industry, there’s often a “bigger is better” mentality. In fact, this year, the Royal Caribbean launched the world’s largest cruise ship and announced that its next megaship of the same size would be setting sail next year. There’s no denying that megaships with upward of 7,000 passengers have a lot to offer, but there are tradeoffs […]

The European Commission expects growth in Cyprus to remain robust in 2025 and 2026, according to the Autumn 2024 Economic Forecast which was presented in Brussels on Friday. The Commission expects annual growth in Cyprus to be at 3.6 per cent for 2024, and growth to continue by 2.8 per cent and 2.5 per cent […]

As part of its efforts to enhance the transportation sector and drive economic growth, the Cambodian government is rolling out plans for the development of eight major railway projects, with a projected total investment of over $10 billion. Experts and economists have highlighted how the expansion of the rail network will play a key role […]

Cyprus recorded a record-breaking €3.2 billion in foreign direct investment (FDI) for 2023, according to Invest Cyprus, the agency tasked with driving investments to the island. This figure was reported during the organisation’s annual general meeting on November 14. The meeting took place at the premises of the Finance Ministry in Nicosia, where it unveiled and […]

Property prices in Limassol surged in 2024, with apartment prices up by over 20 per cent and house prices rising by 30 per cent, according to a report from Nicosia-based firm Landbank Analytics. The report, which reviewed data from the Department of Lands and Surveys from January to September 2024, shed light on variations in […]

The Bank of Cyprus said on Thursday it is taking proactive measures to prevent online scams while fake news about a fraudulent lucrative platform linked to the bank have been circulating online. The fraudulent AI platform marketed as the ‘Bank of Cyprus Trading AI Platform’, promises to earn users a guaranteed €15,000 a month, requiring […]

Two Cypriot villages, Pissouri and Kalopanayiotis, have been named among the “Best Tourism Villages 2024” by UN Tourism. The awards, presented during the 122nd session of the UN Tourism Executive Council, recognised 55 villages from 30 countries, selected from more than 260 applications across 60 member states. The global recognition programme, now in its fourth year, evaluates villages […]

Kalopanayiotis and Pissouri were on Friday rated as top tourist villages in an annual list published by the World Tourism Organisation (WTO). The initiative was launched in 2021 to promote tourism in rural areas and preserve landscapes, cultural diversity, local values and culinary traditions. During this, the programme’s fourth year, 55 villages out of a […]

The parliament is discussing plans to build new racetracks to combat illegal street racing, following concerns about public safety and 176 related complaints filed with authorities over the past five years. The House Transport Committee debated the proposal on Thursday, which would require approximately 300,000 square metres of land between Larnaca and Limassol and an […]

The first flamingos have arrived in Larnaca’s salt lake searching for a warmer climate and food. Every year thousands of migratory birds including flamingos come to Cyprus to spend the winter. This event attracts locals and tourists all over the world who visit the salt lake to spot flamingos. In the coming weeks, the number […]

Global olive oil markets are experiencing a shift, marking a departure from the past two years when drought and heatwaves led to reduced production and soaring prices. Producer prices have dropped sharply across major trading hubs, as markets attempt to stabilise at historical levels following a return to normal production volumes. However, industry experts say attention must now […]