Cyprus Real Estate Market Experiences Best Seven-Month Period Since 2008

by THEFUTURE.TEAM

August 5, 2024

The real estate market in Cyprus has recorded its most successful seven-month period since 2008, reflecting a robust recovery and growing investor confidence. The surge in property transactions is driven by both domestic and international demand, indicating a healthy economic rebound.

Key Factors Contributing to the Boom

Favourable Financing Conditions: Low interest rates and accessible mortgage options have made property investments more attractive.
Government Incentives: Various governmental policies and incentives have stimulated the market.
Stable Economic Environment: Cyprus’s stable economic conditions have reassured investors, leading to increased activity.

Domestic and International Demand

The demand for properties has risen significantly among both local and international buyers. This dual demand has been crucial in driving the market forward, contributing to a diverse and resilient real estate sector.

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Positive Outlook for the Future

Analysts remain optimistic about the future of Cyprus’s real estate market. The combination of favourable economic conditions, supportive government policies, and increasing investor confidence is expected to sustain the market’s growth trajectory.

The Cypriot real estate market’s performance in the past seven months is a testament to the country’s economic resilience and attractiveness as an investment destination. As the market continues to grow, stakeholders are optimistic about the sustained positive trend, anticipating further growth and development.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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