The recent move by the government to curtail subsidies for electric vehicles has stirred significant discontent among car importers in Cyprus. The Department of Road Transport (DRT) has slashed available grants under the Electric Vehicle Promotion Scheme as of April 23, leading to a rapid depletion of the subsidy pool and leaving many potential applicants disappointed.

Importers’ Concerns

According to the Cyprus Motor Vehicle Importers Association (CMVIA), the lack of transparency and failure to engage stakeholders prior to the decision have eroded trust in the government’s commitments. Importers now find themselves facing a precarious situation, with substantial stocks of electric vehicles and mounting promotional expenditures.

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

Public Interest and EU Compliance

Although the scheme aimed to support the transition to zero-emission transport until 2025, the DRT states that the curtailing of funds was necessary to comply with European funding terms, which warned against delays in vehicle deliveries. This decision has fueled market uncertainty despite the application portal experiencing dynamic changes.

Industry’s Ongoing Demand

The CMVIA refutes any claims suggesting waning interest in electric vehicles, underscoring the rapid exhaustion of available grants as proof of substantial demand. They highlight the importance of meeting Cyprus’s green transition targets, including putting 80,000 electric vehicles on roads by 2030.

While the total budget for subsidies saw an increase to €36.5 million in 2023, thanks to additional funding, ongoing difficulties in timely vehicle distribution have led to premature closures of applications. In response, CMVIA has called for urgent dialogue with the Minister of Transport to reassess the decision, fearing that it could endanger the future of e-mobility in Cyprus.

Ayia Napa and Protaras are gearing up for an exceptional tourist season in 2025, with efforts suggesting it could be a record-breaking year. The areas have already achieved a modest extension of their tourist season, thanks to a series of strategic collaborations.

Uniting Forces for Greater Impact

Previously viewed as competitors, Ayia Napa and Protaras have joined forces since last year, moving past their differences to leverage combined strengths. Their collaboration with the Famagusta Tourism Board and local stakeholders initiated a high-impact campaign titled “Live Unforgettable Moments”.

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

Expanding Reach Through Strategic Campaigns

The campaign’s wide reach is evident as over 14 million advertisements have been disseminated across English, German, and French platforms. These efforts have successfully connected with more than 4.5 million unique users across key markets such as the UK, Germany, Austria, and the Nordics. The positive response, particularly from the British and emerging Polish markets, hints at significant growth potential.

Beyond Advertising: Real Engagement

The collaborative strategy extends beyond advertising. Meetings with key tour operators like Jet2holidays, TUI, and easyJet have been productive, with plans to extend the tourist season until mid-November. Active dialogues are also ongoing with local entertainment venues to maintain operations longer into the year.

For more insights on tourism and real estate trends, check out our article on 2025’s Real Estate Trends in Cyprus.

Sports Tourism: A Driving Force

Sports events have infused significant enthusiasm into the region, bolstering visitor numbers. Notable instances include the international ELITE NEON tournament and the 4th Run for Autism Half Marathon, drawing thousands of participants. These events emphasize the potential of sports tourism in enhancing the area’s brand recognition.

Sustainable and Intelligent Tourism Initiatives

Looking forward, Ayia Napa and Protaras aim to harness advanced technologies like AI to enhance tourist experiences. Initiatives include creating AI-driven guides and virtual tours, enhancing both tourist engagement and infrastructure sustainability.

Ultimately, the goal remains clear: extend the tourist season year-round, offering diverse tourism options from sports to cultural and wellness travel. This strategic push promises to bring lasting benefits to Cyprus’s dynamic tourism landscape.

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.

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

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.