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Cyprus House Prices Rise 8.5% As Foreign Demand And Construction Costs Sustain Market Momentum

by THEFUTURE.TEAM

September 24, 2026

Cyprus’s residential property market continued to strengthen in the second quarter of 2026, with house prices rising 8.5% year on year, according to the Central Bank of Cyprus (CBC). The latest figures point to a market still being supported by robust demand from both foreign and domestic buyers, alongside higher construction costs.

Prices Advance Across Most Segments

The CBC’s general residential property price index reached 109.7, marking a 2.4% increase from the previous quarter. House prices rose 5.8% annually, while apartment prices posted a sharper 8.9% increase, underscoring continued appetite for urban housing stock.

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Price growth accelerated in all districts except Limassol. Famagusta recorded the strongest annual increase at 10%, followed closely by Larnaca at 9.8% and Paphos at 9.6%. Limassol saw prices rise 7.8%, while Nicosia registered a 5.7% increase.

Foreign Buyers Remain A Key Driver

The central bank said the market’s momentum was driven primarily by strong demand for residential property, especially from overseas buyers. Domestic demand also remained supportive, though the pace of growth was more measured.

That trend was reflected in transaction activity. A total of 5,298 sale contracts were deposited with the Department of Lands and Surveys in the quarter, up 15.4% from 4,592 in the second quarter of 2025. The CBC said foreign demand was the main contributor to the increase, with local buyers also continuing to participate in the market.

Supply Is Beginning To Respond

On the supply side, building activity also picked up. Approved residential units covered by building permits reached 8,978 in the first five months of 2026, compared with 5,484 in the same period a year earlier — an increase of 63.7%.

The CBC also pointed to the European Commission’s June economic sentiment survey, which showed construction activity remaining in positive territory. That suggests housing supply may continue to rise gradually, although likely not fast enough to offset demand in the near term.

A Market Still Tilted Toward Sellers

For now, Cyprus remains a market where demand is outrunning supply in several areas. With foreign capital still active, domestic buyers resilient, and construction costs elevated, price pressure is likely to persist unless new supply accelerates meaningfully.

The Future Forbes Realty Global Properties

AI In Practice Brings Business Leaders Together To Learn, Unlearn And Relearn

by News Editor

October 16, 2026

AI in Practice: Changing the Future of Business takes place on Monday, 19 October 2026, at the Cultural Center of European University Cyprus in Nicosia, under the auspices of the Chief Scientist of Cyprus, Demetris Skourides.

Organised by Panis.News with co-organisers GrantXpert Consulting and Future Skills Hub at European University Cyprus, the event will bring together founders, SME owners and senior executives to examine practical uses of artificial intelligence.

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The evening runs from 18:00 to 22:30. Tickets will be available until 12:00 noon on Monday, 19 October, Cyprus time.

For business leaders, the challenge is deciding where AI can deliver results. The programme will explore how to identify useful applications, prepare teams and connect technology investment with business needs. Demonstrations, case studies and direct questions to speakers will help attendees assess their next steps.

Panis Pieri, Founder of Panis.News, said:

“Business leaders need space to ask questions, challenge assumptions and learn from people applying AI. We created AI in Practice to make that conversation accessible and useful. We want attendees to leave with a clearer idea of what they can do next in their own businesses.”

Dr Celia Hadjichristodoulou, Founder and Managing Director of GrantXpert Consulting and Future Skills Hub, said:

“Working out where AI belongs in your business takes real thought about your customers, your processes and your people.”

AIA.Labs supports the event as the Gold Partner. Its founder, Sotiris Makrygiannis, said:

“In the 70s we learnt how to punch a card to go to work or program a timesharing computing machine, in the 80s the personal PC and office tools, in the 90s the modem and basic internet, in the 2000s mobile internet plus web shopping, and by 2010 the mobile apps. Now it’s time to learn how to practically use AI and that alone is the most disruptive thing an individual can do today. We are happy to sponsor the event because theory needs a practical application.”

The Agenda

– 18:00–18:30: Registration and networking.

– 18:30–18:50: Welcome remarks from Panis Pieri, Dr Celia Hadjichristodoulou and EUC Rector Professor Loizos Symeou.

– 18:50–19:00: Interview with Chief Scientist Demetris Skourides.

– 19:00–19:20: The AI Revolution. Why should you care? by Monica Odysseos, Head of AI and Data Lab of Grant Thornton.

– 19:20–19:40: From Business Pain Points to AI Transformation: A CEO’s Roadmap to Real Results by George Malekkos, CEO of POWERSOFT Computer Solutions & AI-Driven Business Transformation Architect & President of CITEA.

– 19:40–20:20: AI and the Future of Business: Will Your Business Be Here in 2030? by Paris Thomas, Executive Advisor on AI & Strategy, Founder at Rapid Visual / Strapivo

– 20:20–21:00: Questions and answers with the speakers.

– 21:00–22:30: Networking over drinks and bites.

The Challenge

The evening’s programme approaches the challenge from three directions.

Monica Odysseos will begin with a question that deserves a clear answer: why should you care?

Her session will explore how AI is changing the way people work, make decisions and create. Her background spans software development, accounting and applied AI, bringing both technical and business perspectives to the discussion.

George Malekkos will then examine how business problems can become starting points for AI adoption.

Where does your company lose time? Which processes cause delays? Where could you improve the customer experience?

His presentation will look at selecting useful applications, preparing teams and processes, and measuring results. For a business owner deciding where to begin, that connection between a specific problem and a measurable outcome matters.

Paris Thomas will take the discussion further with his keynote, “AI and the Future of Business: Will Your Business Be Here in 2030?”

It is a challenging question. It asks leaders to look beyond today’s workload and consider how their products, services and business models might need to change.

His hour-long session will include live AI demonstrations and enterprise case studies. It will explore how leaders can improve their current business while developing new opportunities and preparing for longer-term change.

The Event

The event will be in English.

The full programme and to book your tickets, visit: https://luma.com/ai-in-practice-cyprus

The organisers thank:

Silver Partners Growth Hacking Cyprus, RSEVEN, Mel’s Digital and Makkas Winery.
Supporters: Cyprus Computer Society, XValley Tech, Business Society Accelerator, Startup School Cyprus and Carierista.
Community Partners: EIT Community Hub Cyprus, CYENS, Women in Tech, Startup Greece, ECECT, CITEA, IET Cyprus and Cyprus_IT

Follow updates about the event on social media at #PanisMeetups