Ask Wire, a technology-driven firm specializing in real estate transaction monitoring, pricing analytics, and construction activity tracking, has published its comprehensive report on the 50 most expensive real estate transactions completed in Cyprus during September 2025. The report, which provides a detailed breakdown of high-value deals across the island, underscores the evolving dynamics of Cyprus’s property market.

Robust Transaction Volume And Impressive Aggregate Value

The analysis reveals that the top 50 transactions, distributed evenly across ten per district, amassed a total value of €46.8 million. Notably, the ten priciest transactions nationwide accounted for €21.3 million, with the record-setting deal involving an apartment located in Agios Antonios, Limassol, valued at €5.1 million.

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

Regional Performance And Sectoral Insights

The regional breakdown highlights Limassol as the epicenter of high-end property activity, registering five of the top ten highest-value deals. Paphos contributed three transactions, while Ammochostos and Larnaca each recorded a single, significant high-value deal. This spatial distribution illustrates the concentrated investment in strategic locales with strong tourism and business appeal.

Highlights Of The Top 10 Transactions

• Apartment in Limassol / Agios Antonios – €5.1 million
• Villa in Paphos / Agios Theodoros – €2.7 million
• Plot in Ammochostos / Ayia Napa – €2.65 million
• Plot in Paphos / Pegeia – €1.8 million
• Apartment in Larnaca / Voroklini – €1.7 million
• Offices in Limassol / Central Area – €1.68 million
• Offices in Limassol / Central Area – €1.68 million
• Plot in Paphos / Pegeia – €1.5 million
• Villa in Limassol / Agios Tycho – €1.27 million
• Villa in Limassol / Agios Tycho – €1.25 million

District Contributions To Market Value

Limassol emerged as the leader, with its top ten transactions contributing €16 million, or 34.2% of the overall value. Paphos followed closely with 24.1% (valued at €11.3 million), while Ammochostos secured third place, outperforming both Nicosia and Larnaca in the high-end segment with a deal that significantly impacted its total figure.

Notable District Leaders In Transaction Values

• Ammochostos: Plot valued at €2.65 million (36% of district value)
• Larnaca: Apartment valued at €1.7 million (28.3%)
• Limassol: Apartment valued at €5.1 million (31.9%)
• Nicosia: Plot valued at €1 million (16.3%)
• Paphos: Villa valued at €2.7 million (23.9%)

Market Sentiment And Strategic Implications

Pavlos Loizou, CEO of Ask Wire, characterized the high-value market in September as measured, despite robust activity in districts known for their tourism and investment appeal. “September’s high-end real estate market could be described as subdued, given that only 15 transactions exceeded the €1 million threshold. This pattern is clearly reflected in the aggregate value of the 50 priciest deals across Cyprus,” Loizou remarked.

His comments further emphasized the predominance of residential real estate, with 22 transactions involving houses and an additional six involving apartments. The land market, with 13 sales of plots and two of larger estates, followed closely. Particularly noteworthy were the office sales in Limassol, where two of the five transactions contributed a combined €6.1 million – a figure that rivals the total top ten values of Nicosia and surpasses that of Larnaca.

Conclusion: Strengthening Cyprus As a Hub for High-Value Investment

The data underscores that residential properties continue to dominate high-value transactions, while the robust performance in land and office segments—especially in Limassol—reinforces the city’s status as a focal point for premium real estate investments in Cyprus. The insights provided by Ask Wire not only offer a snapshot of current market trends but also serve as a guiding tool for investors eyeing strategic opportunities in this dynamic sector.

Despite a range of recent initiatives and regulatory adjustments intended to boost the housing stock, Cyprus’s rental market remains on an uninterrupted upward trajectory. Even as authorities and industry leaders introduce measures to streamline licensing and enhance oversight, trend indicators for Q3 2025 consistently point upward.

Market Momentum: Rents Continue To Climb

Recent data underscore that no measure has yet stalled the persistent rise in rental costs. As efforts undertaken by government agencies to expand the residential inventory gain traction, rental indexes for Q3 2025 have maintained an upward trend. This development highlights an inherently resilient property market amid reform efforts.

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

Data Insights: Analysis By KPMG Cyprus

KPMG Cyprus (visit their website) released its latest “RICS Cyprus Property Price Index with KPMG in Cyprus” covering Q3 2025. According to Christoforos Anagiotos, Chief Executive and Head of the Real Estate and Land Development Sector at KPMG Cyprus, rental rates for apartments surged by 4.78% compared to the same period last year. Houses followed with an increase of 2.22%, while commercial properties experienced a modest rise of 0.54%.

Surge In Asset Values: Warehouses And Offices Lead

In addition to rental increases, the report reveals substantial advances in property values. Specifically, apartment values rose by 4.50% and housing prices by 4.11% over the comparable period last year. Meanwhile, warehouses appreciated by 3.69% and office spaces by 3.09%. Anagiotos noted that these variations reflect both geographic and segment-specific trends. In particular, Limassol outperformed with notable gains in warehouse and apartment values, whereas Nicosia, Paphos, and Ammochostos maintained steady yet modest increases in residential property values. Larnaca, for its part, remained largely stable, with only marginal gains observed in office valuations.

Government Reforms: Streamlining Processes And Fostering Investment

The President of the Republic recently highlighted ongoing reforms aimed at bolstering the real estate market and the broader economy. These reforms focus on reducing bureaucratic delays—especially within licensing procedures—and enhancing regulatory oversight to build investor confidence. As part of an annual assembly of major development stakeholders, government officials underscored the necessity of modernizing business procedures. They also lauded initiatives such as the new Business Service Centre, which optimizes the delivery of state services for both domestic and foreign investors.

Public-Private Synergy: A Pillar Of Economic Growth

At the annual General Assembly of the Association of Major Developments, President of the Association Andreas Dimitriadis stressed the critical role of aligning public and private interests. He pointed to the longstanding international relationships fostered by the association, which are paving the way for deeper collaborations and expanded networking opportunities for Cyprus. Dimitriadis also addressed the impact of economic diplomacy, particularly as Cyprus eyes integration into the Schengen Area, and praised the legislative advancements such as the National Mechanism for Inspecting Direct Foreign Investments. The assembly further underscored the imperative to address infrastructure deficits and affordable housing challenges, as well as the strategic importance of a comprehensive long-term energy policy amid rising electricity costs.

Overall, the Q3 2025 assessment portrays a robust and dynamic property market. While the residential segment demonstrates strong momentum, the gradual evolution of commercial assets suggests a cautious yet steady market progression bolstered by sweeping governmental reforms and strategic public-private partnerships.

Overview Of The Proposed Changes

Data presented to the Parliament by Tax Official Sotiris Markidis signals a potential risk of €695.2 million in annual state revenue. The risk stems from a proposed regulatory change that would allow 60,399 companies—operating with annual turnovers up to €900,000 and asset values of up to €500,000—to undergo a simplified review of their financial statements rather than a comprehensive audit with certified accounts.

Implications For Smaller Enterprises

Under the current framework, firms with turnovers of up to €200,000 and assets up to €500,000 are subjected to a streamlined review process. The proposed expansion of the turnover threshold by an additional €700,000 would considerably broaden the pool of companies eligible for this reduced oversight. Proponents argue that this shift benefits small businesses; however, the looming reduction in rigorous auditing is poised to cut significantly into state revenues.

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

Projected Financial Impact

According to figures submitted by the Tax Department to the Parliament, the overview method—implemented since 2023—currently applies to 51,075 businesses. In 2022, these entities contributed a combined €227.8 million, with forecasts for the current year reaching €306.8 million. If the turnover limit increases to €300,000, the number of eligible companies would rise to 54,549, potentially elevating state revenue from these firms from €301.7 million in 2022 to an estimated €414.3 million this year.

Threshold Adjustments And Revenue Projections

Further adjustments to the turnover threshold would have even more pronounced effects. A €500,000 threshold could subject 57,962 companies to the overview process, with projected revenues of €545 million. An increase to €600,000 could involve 58,888 companies and yield approximately €595 million, while a €700,000 threshold would include 59,543 companies, contributing an estimated €633.1 million. The scenario with a €900,000 turnover cap is the most expansive—affecting 60,399 companies and potentially generating €695.2 million in state revenue.

Debate Among Key Stakeholders

Prominent institutions such as the Tax Department, the Central Bank, and the Bank Association have expressed reservations regarding the legislative changes. The upcoming session in the Parliamentary Trade Committee, led by advisers such as K. Chatzigiannis and N. Sykas, will address these concerns. A pivotal point of discussion will be the proposal to set the annual turnover threshold for companies undergoing a mere review at €300,000, thereby ensuring that larger firms—whose financial contributions to the state are more significant—remain subject to full audits.

Looking Ahead: Financial Reporting Oversight

Additionally, clarity is expected regarding the composition and supervisory authority of the Council for the Determination of Financial Reporting Standards. This body is charged with establishing, monitoring, and evaluating the financial reporting practices of small-scale enterprises. While the Securities and Exchange Commission has signaled its readiness to oversee the council, the legal service currently favors placing this responsibility under the Ministry of Finance.

Cyprus, preparing for its upcoming EU Presidency in January 2026, has seen a valuable engagement from representatives of the European business community. President Nikos Christodoulides highlighted the significance of this participation ahead of the Business Europe Chairpersons’ Conference in Nicosia.

Focus On Enhancing Competitiveness

In his address, the President emphasized that over 70% of the files managed during Cyprus’s Presidency will revolve around the issue of competitiveness. He noted that the dialogue has shifted from mere discussions to concrete decision-making, a move viewed as essential for bolstering the European Union’s competitive edge on the global stage.

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

Strengthening Strategic Partnerships

Highlighting the critical role of collaborative efforts, President Christodoulides stated, “Collaboration with the European business community is of paramount importance.” He recalled a productive exchange of views during the recent presidential meeting and expressed his confidence that such engagements will further strengthen the EU’s initiatives in competitiveness, thereby preparing the region for a successful presidency.

Competitiveness And Strategic Autonomy

The President further connected the ideas of competitiveness and strategic autonomy by asserting that a lack of competitiveness undermines the pursuit of autonomy. This alignment of economic strategy with broader geopolitical aims underscores the urgency of implementing decisive measures to improve the EU’s international standing.

Looking Ahead

As discussions continue and the presence of European leaders in Cyprus garners momentum, the commitment to a competitive and autonomous European Union remains unwavering. With only 40 days until Cyprus assumes the EU Presidency, this enhanced cooperation is seen as both a significant opportunity and a distinguished honor.

Source: Phile News

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

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

Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

Introduction

At the recent BusinessEurope Council of Presidents summit in Nicosia, President Nikos Christodoulides delivered a resolute address, stressing that a stronger, more competitive European Union is essential to achieving strategic autonomy.

Leadership And A Decisive Path Forward

With the Cyprus Presidency of the Council of the EU scheduled to begin in January 2026, the president outlined a clear mandate: transition from prolonged debate to decisive action. He noted that over 70 percent of the upcoming agenda will focus on enhancing the union’s competitiveness—an area that has lagged on the global stage.

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

Forging Partnership With The Business Community

In a series of high-level discussions, including a key exchange at the Presidential Palace, President Christodoulides underscored the indispensable role of Europe’s business community. He asserted that robust partnership frameworks are critical as the presidency assumes the mantle of leading the union through transformative periods.

Competitiveness And Strategic Autonomy In Tandem

Emphasizing the close nexus between economic competitiveness and strategic autonomy, the president warned that without a competitive edge, the EU cannot assert its position as a global strategic actor. He pointed to the lessons of recent geopolitical turbulence, including the Russian invasion of Ukraine, which has starkly illustrated the risks of economic dependency.

Economic Resilience And Fiscal Discipline

Highlighting Cyprus’s own economic success, President Christodoulides cited impressive growth figures, low unemployment rates, and a restored ‘A’ investment-grade status as examples of resilient fiscal management. These benchmarks not only strengthen Cyprus’s position but also serve as a blueprint for driving the Union’s broader economic revival.

A Strategic Roadmap For Europe

Looking ahead, the Cyprus Presidency will prioritize regulatory simplification, enhance the Single Market, and advance key strategic trade agreements with global partners. With initiatives such as the forthcoming Commission’s Single Market Roadmap to 2028 and extensive Omnibus Simplification Packages, the path forward is both clear and ambitious.

President Christodoulides concluded with a call to unity, reminding all member states that the true value of the European project lies not in geographic size, but in sustained commitment and the relentless pursuit of excellence on the global stage.

Modernizing Public Payment Systems

Cyprus is set to transform its public payment infrastructure by discontinuing the acceptance of personal cheques for state payments starting January 1, 2026. This strategic move comes as the Treasury endeavors to establish a faster, more secure, and effective collection system that aligns with contemporary digital practices.

Addressing Long-Standing Inefficiencies

Officials have noted that traditional cheque processing has long been plagued by delays, inaccuracies, and rejections stemming from mundane errors or insufficient funds. Citizens often had to navigate repeated payment processes due to these inefficiencies, prompting a necessary shift towards streamlined digital solutions.

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

Implementing Secure and Instant Solutions

In lieu of personal cheques, the government will facilitate payments through direct and secure methods. These include bank cards used at cash desks, online transactions, and bank transfers, with support for instant payments that clear within seconds. Although banker’s drafts will remain available temporarily, they too are slated for eventual discontinuation, ensuring that the nation’s public financial network evolves with global best practices.

Maintaining Cash Transactions

While the digital transformation continues, cash transactions up to €10,000 will persist as a viable option, providing flexibility for those who prefer traditional payment methods. This balanced approach underscores Cyprus’s commitment to modernize public services without alienating segments of the population still reliant on conventional banking tools.

A Broader Vision for Public Service Modernization

The initiative is part of a larger governmental strategy to enhance public service delivery and resource management. By transitioning away from outdated cheque systems, Cyprus not only simplifies the payment process for its citizens but also reinforces its dedication to efficiency and transparency within the public sector.

European employers’ organizations have converged in Cyprus for the BusinessEurope Council of Presidents (CoPres) conference, an event that underscores the increasing influence of key economic actors in shaping European policy. The meeting, held at the Presidential Palace in Nicosia, marks a significant gathering where high-ranking representatives will discuss strategies vital to the evolution of the regional economic landscape.

Meeting Overview

Today, leaders of major European employers’ organizations will meet with President Nikos Christodoulidis at the Presidential Palace. The session, which will culminate in an official dinner attended by the President, is a testament to the collective commitment to address the challenges and priorities facing Europe today.

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

Council Agenda

The conference agenda is comprehensive, focusing on several critical areas:

• The strategic priorities underpinning the forthcoming Cypriot Presidency;
• The European Union’s roadmap for a sustainable, innovative, and competitive economy;
• Strengthening international relations in an increasingly interconnected world.

Notable Leadership Influence

A further highlight of the event is the attendance of senior policymakers. Tomorrow’s session will include not only President Christodoulidis but also EU Commissioner for Fisheries and Oceans, Kostas Kadis. Additionally, Georgios Pantelidis, President of the Federation of Employers & Manufacturers (OEV), reinforces Cyprus’s influence by serving as Vice President of BusinessEurope, whose President is the Swedish business leader Fredrik Persson.

This gathering reflects a dynamic and forward-thinking approach to addressing Europe’s economic challenges and opportunities, positioning Cyprus as a pivotal player in the broader European agenda.

The Association of Large Investment Projects has renewed its call for establishing a dedicated Deputy Ministry for Development and Competitiveness. In a statement to President Nikos Christodoulides, association president Andreas Demetriades emphasized the need for a coherent national strategy centered on healthy, sustainable development and well-defined incentives.

Driving Job Creation And Economic Resilience

Addressing stakeholders at the association’s general assembly, Demetriades asserted that large-scale projects not only create jobs but also strengthen the social fabric and secure Cyprus’ future. The deputy ministry would be tasked with bolstering competitiveness, attracting high-quality investments, and coordinating much-needed reforms—from streamlining licensing processes and digitalizing services to establishing a one-stop shop for investors.

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

Accelerating Reforms And Simplifying Approvals

The proposed body would oversee targeted licensing for strategic projects, thereby accelerating the development process in measurable ways. This aligns with a broader vision to position Cyprus as a regional business hub, attracting investments in high-end healthcare, higher education, technology, IT, tourism, shipping, green energy, and modern infrastructure.

Showcasing A Portfolio Of Impactful Developments

Demetriades highlighted that the 16 association members manage the island’s largest developments, attracting consistent foreign interest with an €8 billion portfolio spanning marinas, casinos, golf courses, universities, medical centers, research parks, and expansive tourist projects. Such initiatives have not only upgraded Cyprus’ investment and tourism landscape but have also supported thousands of jobs and improved living standards.

Policy Initiatives And Institutional Enhancements

In discussing long-term priorities, Demetriades stressed the importance of continual improvements in the business environment. He cited the recent cost of living allowance (CoLA) agreement as a demonstration of institutional maturity among the state, employers, and unions—a success that reinforces stability and predictability. As Cyprus prepares to assume the EU Council Presidency, these policy improvements are critical for handling weighty European dossiers, including the multiannual financial framework, competitiveness, defense, and security.

Addressing Housing And Infrastructure Challenges

Despite the progress, significant challenges remain. Demetriades underscored the pressing need to address housing shortages and expand educational infrastructure. He recommended targeted incentives, such as increasing building coefficients in selected areas and employing VAT mechanisms for investments in rental properties, to meet the rising demand for affordable housing.

Energy Strategy, Schengen Accession And Local Governance

High energy costs demand a robust, long-term national strategy, which includes improving natural gas supply, accelerating storage system deployment, and constructing critical infrastructure to enhance security and sufficiency. Additionally, accession to the Schengen Area would expand Cyprus’ economic reach and enhance its credibility among international investors.

Collaboration To Overcome Institutional Hurdles

Speakers representing key institutions, including Andreas Tsouloftas conveying President Stavros Stavrou’s message and Constantinos Yiorkadjis from the Nicosia EOA, stressed the importance of multi-level cooperation. They outlined measures such as digitizing permit processes and creating dedicated development services to address longstanding obstacles like bureaucracy, slow licensing, and manpower shortages. Local authorities, especially in sectors like water supply and sewage management, play an essential role in facilitating development and mitigating infrastructure constraints.

A Pivotal Moment For Cyprus

Despite global uncertainty, the resilient Cypriot economy continues to attract quality foreign investment. As institutional reforms progress and strategic incentives are implemented, large-scale developments are poised to sustain and further elevate Cyprus’ competitive edge. Through an integrated approach and strong public-private collaboration, Cyprus is well-positioned to emerge as a pillar of stability, modern governance, and sustainable growth in the region.

EU farms produced an estimated 161.8 million tonnes of raw milk in 2024, a modest increase of 0.9 million tonnes compared to 2023. This figure builds on a decade of steady growth, with production rising by 12.1 million tonnes since 2014, when output was 149.7 million tonnes. According to Eurostat, the trend underlines the resilience and expanding capacity of the EU dairy industry.

Dairy Consumption And Product Diversification

Of the total raw milk output, approximately 150.8 million tonnes were directed to dairies, underpinning the production of a diverse range of fresh and processed dairy products. Notably, much of the milk is allocated to cheese and butter manufacturing. Specifically, 59.9 million tonnes of whole milk, assisted by an additional 17.0 million tonnes of skimmed milk, were transformed into 10.8 million tonnes of cheese. Similarly, 44.2 million tonnes of whole milk facilitated the production of 2.3 million tonnes of butter and other yellow products, generating 41.5 million tonnes of skimmed milk as a by-product.

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

Leading National Contributors

Germany emerged as the EU’s largest producer of drinking milk, accountable for 18.8% of overall production and dominating the production of acidified milk products, butter, and cheese with respective shares of 27.1%, 20.6%, and 22.5%. Spain and France follow closely, with Spain contributing 15.2% and France 12.7% to the production of drinking milk. France also holds significant positions in the butter (17.2%) and cheese (17.8%) segments.

Niche Production And Strategic Specialization: The Case Of Cyprus

Cyprus remains a minor player within the EU dairy sector. Its modest agricultural base, constrained pastureland, and limited herd sizes yield relatively low production volumes—recording 56,310 tonnes for drinking milk, 12,440 tonnes for acidified milk products such as yoghurt, 0.050 tonnes for butter, and 42,550 tonnes for cheese. However, the island’s strategic focus on high-value cheese production, particularly halloumi, a Protected Designation of Origin (PDO) product, underscores its competitive niche in the market. With a high proportion of available milk being allocated to cheese, Cyprus exemplifies how specialization can drive export success, even amid constrained production capacities.