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Cyprus Developers Intensify Hunt for Land Amid Rising Demand for Apartments

by THEFUTURE.TEAM

September 16, 2024

As demand for residential apartments in Cyprus continues to surge, developers are ramping up efforts to secure land for new projects, particularly in prime urban areas. The real estate sector has seen a significant increase in interest from both local and international buyers, driving developers to actively seek available plots to accommodate the growing demand.

This trend is most evident in cities like Limassol and Nicosia, where land for new apartment developments is becoming increasingly scarce. The scarcity has led to a highly competitive market, with developers scrambling to secure strategic plots that will allow them to meet the high demand for residential units.

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Urbanisation and Shifts in Market Dynamics

The intensification of the search for land is driven by several factors. Urbanisation is one of the primary forces behind the rising demand for apartments, as more people move to city centres in search of better employment opportunities and lifestyle conveniences. This demographic shift has created a surge in the need for modern, well-located housing.

Moreover, the demand for apartments has been further fuelled by changes in investment patterns, particularly from international buyers. Cyprus has long attracted foreign investors due to its favourable tax policies and residency-by-investment schemes, which have led to an influx of capital into the property market. Developers are now racing to keep up with this demand by increasing the supply of apartment units.

The Challenge of Limited Land Availability

However, the rapid urbanisation and influx of foreign investment have contributed to a pressing issue: the availability of land suitable for large-scale apartment projects is becoming increasingly limited, particularly in high-demand areas like Limassol. This scarcity is pushing developers to consider alternative solutions, such as redeveloping older properties or purchasing smaller plots in less central locations.

This land shortage has also resulted in a rise in property prices, both for undeveloped land and for finished apartments. Developers face growing pressure to find cost-effective ways to deliver new projects without sacrificing quality, especially as construction costs remain high due to inflation and supply chain disruptions.

Adapting to Market Challenges

In response to these challenges, many developers are exploring new strategies. Some are focusing on mixed-use developments that combine residential, commercial, and recreational spaces, offering added value to potential buyers. Others are shifting their focus to smaller cities or suburban areas, where land is more affordable and available.

Despite the obstacles, the outlook for Cyprus’ property market remains positive. The steady demand for apartments, particularly from foreign investors, continues to fuel growth in the sector. As developers adapt to the challenges of limited land availability and rising construction costs, they are likely to innovate further, creating new opportunities in both the residential and commercial real estate markets.

UAE Emerges As One Of The Most Trusting Nations In 2025

by THEFUTURE.TEAM

February 21, 2025

The UAE continues to be one of the most trusted countries in the world, according to the 2025 Edelman Trust Barometer. While many nations struggle with declining trust due to misinformation and economic instability, the UAE remains a beacon of confidence, achieving high trust levels in both government and business institutions.

Global Trust Rankings

The report highlights a stark divide in trust levels across the world. Five of the ten largest global economies rank among the least trusting nations, with Japan at 37%, Germany at 41%, the UK at 43%, the U.S. at 47%, and France at 48%. Meanwhile, countries like China (77%), Indonesia (76%), India (75%), and the UAE (72%) continue to lead the Trust Index.

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The UAE was first included in the Edelman Trust Barometer in 2010 and has consistently ranked among the top nations. Citizens view the country’s leadership and institutions as both competent and ethical, reinforcing its stability.

UAE Government: A Global Trust Leader

With 82% trust among respondents, the UAE government is the most trusted institution in the country and one of the highest-ranked globally. This far exceeds the global average of 52%.

Trust in business is also strong, with 76% of UAE respondents believing that businesses act responsibly, compared to the global average of 62%. Additionally, societal trust remains high, with teachers (85%) and citizens (79%) viewed as highly trustworthy.

Trust And Optimism In The UAE

The report links high trust levels to optimism about the future. In the UAE, 60% of respondents believe the next generation will be better off, significantly higher than the global average of 36%.

“The UAE has demonstrated that when institutions act with integrity and competence, trust flourishes. Where trust thrives, optimism overcomes uncertainty, paving the way for a brighter future,” said Omar Qirem, CEO of Edelman Middle East.

Global Trust Crisis And UAE’s Stability

While trust remains strong in the UAE, the global landscape presents a different picture. Widespread concerns over misinformation, inequality, and economic instability have led to declining trust worldwide. According to the report, 63% of individuals find it increasingly difficult to distinguish between credible sources and deceptive information. Additionally, two-thirds believe the wealthy do not contribute their fair share in taxes.

Despite these global challenges, the UAE stands out as a nation where trust in institutions and optimism for the future remain resilient, reinforcing its position as a leader in global stability and confidence.