Opens in a new tab

Breaking news

2025 Sets a Positive Trend for Cyprus Real Estate

The real estate market in Cyprus has surged forward in 2025, marking a significant 15% increase in property sales compared to the previous year. This remarkable growth in the first quarter is highlighted by the 4,137 sale documents filed, as per reports from the Registration Council of Real Estate Agents.

While there was a slight decrease of 2.9% in transaction volume, the sales value saw a robust increase of 15%, surpassing €1.1 billion annually. This promising start to the year reflects sustained demand and better alignment of supply to market needs.

Insights from Regional Markets

Limassol continues to dominate the market, boasting the highest value transfer at €428.7 million and leading in documentation volume with 1,295 sale filings. Additionally, the city recorded 1,203 transaction volumes, underscoring strong investment activities.

In Nicosia, stability reigns with 1,304 transactions valued at €283.5 million. The city attracted 932 new sale documents, reflecting keen interest in fresh developments.

The momentum from previous years carries on in Paphos, with 811 transfers totaling €199 million. This shows lively activity in property purchase, fueled chiefly by international buyers.

Larnaca saw €154 million in transactions from 843 property transfers. The sale documents numbered 910, indicating rising demand bolstered by ongoing investments, as featured in Desalination Breakthrough: Addressing Water Shortages in Cyprus.

Though the Famagusta region ranked lowest with €48 million and 251 transfers, the growth trend persists. The 171 sale documents filed signal an appeal through lower prices and tourism-driven development.

Google Cloud Outage Disrupts Banking And Digital Services Across The UK

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.

eCredo
The Future Forbes Realty Global Properties
Uol
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter