Cyprus expects to produce natural gas by 2026 - Cyprus could start producing its first natural gas as soon as 2026, and plans to participate in a high-powered electricity cable project linking the eastern Mediterranean to continental Europe, its energy minister told Reuters. Gas production, and a hook-up to power markets o... more

Cyprus raises bar further for citizenship - The Republic of Cyprus has introduced significant amendments to the law that govern naturalisation of foreign nationals based on years of residence in Cyprus. These changes, published on December 19, 2023 in the Official Government Gazette, have immediate effect and have rais... more

Planning & building permits to be axed - The Ministry of Interior is striving to complete the simplification of the development control system by July 1 of this year through a package of 22 measures agreed upon with the Cyprus Scientific and Technical Chamber (ETEK). One of the key measures is the elimination ... more

Property sales in 2023 reached highest since 2007 - The number of property sales in 2023 reached the highest level on record since 2007, with a total of 15,567 contracts deposited with the Department of Lands and Surveys. Sales reached a record 21,245 in 2007. But then the global financial crisis, the most severe worldwide eco... more

CY Airports record high passenger traffic in 2023 - Passenger traffic at Cyprus airports in 2023 exceeded 11.6 million, with an average of 32,000 passengers per day. Traffic in 2023 had an increase of 3% compared to 2019, marking the best performance ever recorded at Cyprus Airports. Specifically, 8.1 million passengers trave... more

Demand for Cyprus Real Estate remains high - According to data from the Comparative Sales Department of the Land Registry and CartoAcil, the real estate market continues to be resilient to challenges. In particular, the nine-month period of the year saw a total of 8,681 property transfers nationwide with a total value o... more

Economy sustains growth despite external pressures - The economic growth rate remains robust, standing at 2.5% in the third quarter of 2023 compared to the same quarter in 2022, despite prevailing external pressures, as reported by the Statistical Service. After adjusting the Gross Domestic Product (GDP) for seasonal variations... more

EU greenlights Cyprus’ green transition plan - The European Commission on Thursday gave a positive assessment of Cyprus’ modified recovery and resilience plan, which includes a REPowerEU chapter. The plan is now worth €1.22 billion – €0.2 billion in loans and €1.02 billion in grants. Cyprus’s REPowerEU chapter consists of... more

Q3 property sales documents hit €1 bln - The value of property sales agreements submitted in the third quarter reached €1 billion, with the real estate market maintaining its strength despite challenges. According to property sales data from the Department of Land and Surveys, processed by the Real Estate Agents Reg... more

Cyprus to generate 40% solar power by 2030 - Cyprus has the potential to meet 40% of its energy demand through solar power by 2030, Director-General of the International Renewable Energy Agency (IRENA) Francesco La Camera said. He told the Cyprus News Agency (CNA) about the importance of interconnectivity of the energy ... more