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Cyprus Government Champions Aviation Modernisation With Bird Aviation’s €2.5 Million Investment

The Cypriot government is making bold strides to modernise its investment environment, with a key focus on the aviation sector. Finance Minister Makis Keravnos recently underscored this commitment during the inauguration of a state-of-the-art hangar at Larnaca’s historic airport.

Strategic Framework for Economic Progress

At the ceremony, Minister Keravnos highlighted the crucial interplay between public policy and private enterprise. The minister stressed that sustainable economic growth is achieved when the state provides a robust framework, enabling market forces, investments, and innovations to flourish. This approach is central to the government’s broader vision of transforming the investment landscape in Cyprus.

Bird Aviation: A Pillar of Aviation Excellence

Bird Aviation, a leading Cypriot company with over 250 employees, has built a solid reputation over the last decade in aircraft repair and maintenance. The newly inaugurated hangar, which represents an investment of more than €2.5 million, is a testament to the company’s commitment to modernising its operations at the classic Cyprus Airways base. This investment not only ensures high-quality maintenance services but also reinforces the company’s role in servicing some of Europe’s premier airlines. For further details, visit Bird Aviation.

Aviation Hub at a Global Crossroad

Bird Aviation CEO Frederic Pralus articulated a forward-looking vision, noting that Cyprus’s strategic geographical position—bridging Europe, the Middle East, and Africa—places it at the heart of a dynamic aviation hub. Operating more than 7,000 working hours weekly, the company is poised for continued growth and innovation, affirming that “the best is yet to come.”

Cyprus Residential Market Surpasses €2.5 Billion In 2025 With Apartments Leading the Way

Market Overview

In 2025, Cyprus’ newly built residential property market achieved a remarkable milestone, exceeding €2.5 billion. Data from Landbank Analytics indicates robust activity countrywide, with newly filed contracts reaching 7,819, including off-plan developments. This solid performance underscores the market’s resilience and dynamism across all districts.

Transaction Breakdown

The apartment sector clearly dominated the market, constituting 81.6% of transactions with 6,382 deals valued at €1.77 billion. In contrast, house sales represented a smaller segment, encompassing 1,437 transactions and generating €737.9 million. The record-high transaction was noted in Limassol, where an apartment sold for approximately €15.2 million, while the priciest house fetched roughly €6.2 million.

Regional Analysis

Nicosia: The capital recorded steady domestic demand with 2,171 new residential transactions. Apartments accounted for 1,836 deals generating €349.6 million, compared to 335 house transactions worth €105.5 million, anchoring Nicosia as a core market with average values of €190,000 for apartments and €315,000 for houses.

Limassol: As the island’s principal investment center, Limassol led overall activity with 2,207 transactions. Apartments dominated with 1,936 sales generating €824.1 million, while 271 house transactions added €157.9 million. The district enjoyed premium pricing, with apartments averaging over €425,000 and houses around €583,000.

Larnaca: This district maintained robust activity with a total of 2,020 transactions. The apartment segment realized 1,770 transactions worth €353 million, and houses contributed 250 deals valued at €96.3 million. Average prices hovered near €200,000 for apartments and €385,000 for houses, positioning Larnaca within the mid-market bracket.

Paphos: With a more balanced mix, Paphos completed 1,078 transactions. Ranking second in overall value at €503.2 million, the district saw house sales generate €287.8 million and apartments €215.4 million. Consequently, Paphos achieved the highest average house price at approximately €710,000 and an apartment average of €320,000, emphasizing its premium housing profile.

Famagusta: Distinguished by lower transaction volumes, Famagusta was the sole district where house sales outnumbered apartment deals. Out of 343 transactions, 176 involved houses (yielding €90.4 million) and 167 were apartments (at €32.4 million). The segment’s average prices were about €194,000 for apartments and over €513,000 for houses, signaling its focus on holiday residences and coastal developments.

Sector Insights and Forward View

Commenting on the report, Landbank Group CEO Andreas Christophorides remarked that the analysis demonstrates an ecosystem where apartments are the cornerstone of the real estate market. He emphasized, “The apartment sector is not merely a trend; it is the engine powering the country’s real estate market.” Christophorides also highlighted the diverse regional dynamics: Limassol leads in apartment pricing, Paphos commands premium house prices, Nicosia remains pivotal to domestic demand, Larnaca sustains competitive activity, and Famagusta caters to holiday home buyers.

In a market characterized by these varied profiles, informed monitoring of regional and sector-specific dynamics is crucial for investors aiming to make targeted and strategic decisions.

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