Figures Show Buyers Lean Towards Luxury Apartments In Limassol And Affordable Options In Nicosia

by THEFUTURE.TEAM

December 26, 2024

Between January 2019 and August 2024, apartment sales in Nicosia reached 13,415 units, with a total value of €2.1 billion, while Limassol recorded 13,092 apartment sales worth €5.1 billion, according to data from the Department of Lands and Surveys cited by Ask Wire.

The report highlights a clear distinction in buyer preferences: Limassol dominates the high-value luxury apartment market, with a sales volume almost nine times higher than Nicosia. Conversely, Nicosia leads in affordable housing transactions, with twice as many as in Limassol.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

In Limassol, 2,174 transactions in the €500,000–€5 million price range accounted for €2.6 billion during this period. For apartments in the €50,000–€200,000 range, Limassol saw 5,451 transactions worth €774 million.

Nicosia, however, excelled in the lower price bracket, with over 11,000 transactions in the €50,000–€200,000 range, emphasising its strong position in the affordable housing sector.

The data also reveals that as property prices rise, demand in Nicosia tends to decline, unlike in Limassol, where interest remains robust in the €201,000–€500,000 price segment.

Market Insights and Opportunities

Ask Wire CEO Pavlos Loizou noted that Limassol’s thriving luxury apartment market presents a significant opportunity for developers. By offering high-quality, diverse options, they can cater to international investors seeking exclusivity and an appealing lifestyle.

In Nicosia, the focus on mid-scale developments designed to meet the needs of local entrepreneurs and households provides a pathway for stable returns, reflecting the city’s strong position in the affordable housing market.

The Future Forbes Realty Global Properties

Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

Breaking news