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Paphos Regional Tourism Board Unveils €600,000 Budget Boost For 2026 Digital And Sustainable Transformation

The Paphos Regional Tourism Board (Etap) has set a new strategic course with a €600,000 budget increase and an action plan for 2026 aimed at enhancing visitor experiences and expanding the region’s digital capabilities and promotional reach.

Strategic Investment In Visitor Experience And Digital Transformation

In a recent board meeting, Etap’s directors approved a comprehensive plan that focuses on upgrading tourism products, elevating visitor experiences, and accelerating the digital transformation of information and services. This initiative aligns with broader objectives to harness new technologies and optimize resource allocation across Paphos.

Enhanced Promotional Campaigns And Collaborative Efforts

Central to the plan is a robust public relations campaign both locally and internationally, positioning Paphos as a premier destination. In the coming weeks, a series of meetings with local bodies and organizations will address the challenge of seasonality, ensuring a coordinated strategy that capitalizes on peak tourism periods while mitigating off-peak downturns.

Active Participation In The Smart Tourism Initiative

Etap is also actively engaged in the second steering group meeting and thematic workshop of the European project ‘Smart Tourism – Smart Destinations’, scheduled for November 18–19 in Jesolo, Veneto, Italy. The project, which partners 10 organizations across Europe, is 80% funded by the European Union and is designed to foster smart and sustainable tourist destinations. With up to €200,000 in funds allocated to Etap, this initiative supports the region’s commitment to digital and green transitions.

Aligning With European Best Practices

During the workshop, partners will review project progress, discuss future actions through 2026, and coordinate on management, communication, and financial oversight. The thematic sessions promise an exchange of best practices, driving knowledge transfer and policy innovation to support sustainable tourism development.

As Etap positions Paphos as a model smart and sustainable destination at a European level, this multi-faceted approach underscores a forward-thinking strategy that is set to redefine regional tourism for years 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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