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Cyprus Faces Energy Strain As Cold Wave Hits: Authorities Call For Power Conservation

A cold wave sweeping across Cyprus threatens to test the island’s energy infrastructure in the coming days. Chará Kousiappa, spokesperson for the Cyprus Transmission System Operator (TSOC), warned that the country could face serious challenges as energy demand surges.

“It will be a tough situation,” Kousiappa told the Cyprus News Agency. “We’re already seeing very high demand, and we’re continuously assessing the situation. We hope things will go smoothly, but we’re ready to act if necessary.”

The cold front is expected to hit shortly, with the most critical period for electricity demand falling between 6:00 PM and 9:00 PM—when renewable energy production drops off. During these peak hours, the power supply will be under significant pressure, as several key power units are offline due to scheduled maintenance or technical issues.

TSOC is closely monitoring the situation, and Kousiappa hopes that some of the power units currently under repair at the Dhekelia and Vasilikos stations can be brought back online before temperatures fall. She also emphasized the importance of energy conservation, urging the public to reduce electricity usage during peak hours and shift high-energy tasks, like laundry and dishwashing, to the day when solar power is at its peak.

As Cyprus braces for a difficult few days, authorities are calling on citizens to play their part in ensuring the stability of the island’s power grid.

Cyprus Property Deals Reach €286 Million Despite Second-Quarter Uncertainty

Cyprus’ high-end property market remained active in the first half of 2026, although geopolitical uncertainty may have weighed on investment activity during the second quarter.

€286.4 Million Across The 50 Largest Deals

Property transactions worth a combined €286.4 million ranked among Cyprus’ 50 highest-value deals completed between January and June, according to real estate analytics firm Ask Wire.

Examining the country’s biggest sales across all districts, the report found that the 10 largest transactions alone accounted for €161.7 million, highlighting the concentration of activity at the upper end of the market.

Limassol Extends Its Lead

A €55 million sale involving a building and adjoining fields in Moni was the largest property transaction recorded during the period.

Six of the country’s 10 biggest deals took place in Limassol, with a combined value of €117.2 million. Paphos followed with three transactions worth €35.5 million, while Larnaca recorded one €9 million sale.

Across the broader ranking, Limassol’s 10 largest transactions reached €148.2 million, representing 51.7% of the total value of the top 50 deals. Paphos followed with €68.8 million (24%), while Nicosia recorded €26.7 million. Famagusta narrowly surpassed Larnaca, reaching €21.4 million compared with €21.2 million.

Land Continues To Drive High-Value Deals

According to Ask Wire CEO Pavlos Loizou, land acquisitions continue to dominate Cyprus’ largest property transactions.

“The land market dominates the list of the 10 highest-value property transactions, with seven sales involving fields and plots.”

Many of those sites are expected to be developed into luxury residential and hospitality projects, he added.

Office Demand Remains Strong

Growing demand for office space also reflects the expansion of international companies establishing operations in Cyprus, Loizou said.

“We continue to observe growing demand for office properties, reflecting the expansion of the new ecosystem of international companies that has been establishing itself in Cyprus in recent years.”

Eight of the 10 largest transactions were completed during the first quarter of 2026, with activity slowing in the following three months.

Loizou said the slowdown may reflect investor caution linked to the conflict in the Middle East, which appears to have influenced investment decisions during the second quarter.

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