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Cyprus Luxury Real Estate Soars: February 2025 Sees Impressive Growth

by News Editor

April 8, 2025

In a remarkable turn, Cyprus’ luxury property scene witnessed a significant upswing in February 2025, recording an impressive €64.8 million across the top 50 transactions, as revealed by real estate analytics firm Ask Wire.

Leading the charge, Limassol commanded attention, clinching eight out of the top ten high-value deals, amassing €26.55 million. Paphos followed with considerable clout, contributing transactions worth €10.2 million.

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Noteworthy deals include a €9.4 million field in Tserkezoi, Limassol, and a €7.6 million mixed-use property in Kato Paphos. Residential properties, such as a €3.7 million apartment building in Limassol’s Potamos Germasogeias, continue to draw keen interest.

Limassol accounted for an impressive €29.2 million or 45% of the nation’s high-end property activities. Meanwhile, Paphos, Nicosia, Larnaca, and Famagusta trailed with lower figures, highlighting geographic imbalances in investment focus.

While residential properties were the mainstay, the robust €9.4 million field deal signals a diversified portfolio opportunity, ushering in a new investment dialogue.

CEO Pavlos Loizou of Ask Wire emphasized, “Limassol continues to attract significant investments, underscoring its appeal to international and institutional entities.”

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EU Slaps Apple And Meta With Hefty Fines For Digital Market Violations

by News Editor

April 23, 2025

Hefty Penalties for Tech Giants

The European Commission has recently imposed substantial fines on tech behemoths Apple and Meta. Apple faces a €500 million penalty, while Meta has been fined €200 million for breaching the Digital Markets Act (DMA).

Behind the Decision

After engaging in extensive discussions with the companies, the Commission concluded that both giants failed to adhere to the DMA’s regulations. These decisions could potentially lead to diplomatic friction, especially considering former U.S. President Donald Trump’s threatened tariffs on nations that impose penalties on American firms.

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Messages from the Commission

Teresa Ribera, Executive Vice President of the European Commission, emphasized the importance of this ruling. “The DMA is a pivotal tool ensuring that digital players operate within fair market boundaries. Apple and Meta’s actions have amplified user dependency on their platforms, contravening our laws,” she stated.

A Wider Impact on the Digital Economy

This landmark decision underscores the EU’s commitment to nurturing a balanced digital market landscape. As Cyprus continues its economic ascent, with its GDP reaching €33.57 billion, such regulatory measures are critical for maintaining cross-border economic stability.