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Cyprus Saloon Car Registrations Surge In May Amidst Market Adjustments

by THEFUTURE.TEAM

June 30, 2025

Sharp Increase In May Registrations

Cyprus experienced a significant upsurge in saloon passenger car registrations in May 2025, with figures reaching 3,715—a robust 11.7% increase compared to May 2024. This marks a notable rebound from April’s 2,924 units, as reported by the Cyprus Statistical Service (Cystat).

First Five Months Reveal Mixed Trends

Over the first five months of 2025, overall registrations for saloon passenger cars declined by 5.5%, totaling 16,224 units relative to 17,176 during the same period last year. Of these, new vehicles numbered 6,874 (42.4%), while 9,350 registrations, or 57.6%, were for used cars.

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Fuel Type Composition And Brand Leadership

Petrol and hybrid vehicles have maintained nearly equal market shares, accounting for 43.7% and 42.9% of registrations, respectively, as consumers continue to prioritize efficiency and performance. Electric vehicles further edged their market share to 4.7%, up from 3.4% from the previous year, even as diesel-powered cars fell to 8.8% from 10%.

Dominance In The Private Sector And Brand Rankings

Out of the 16,224 saloon vehicles registered from January to May 2025, a significant 13,927 were classified as private. Toyota led overall with 2,784 registrations, followed by Mazda at 1,687. Other prominent brands included Nissan (1,240), Kia (976), and BMW (953), while additional key players such as Mercedes (875), Volkswagen (666), Hyundai (560), Honda (531), and Audi (394) maintained strong market positions.

New Versus Used: Consumer Preferences

When distinguishing new car registrations, Kia emerged as the market leader with 949 new entries, trailed by Volkswagen (560), Nissan (525), Hyundai (519), and Toyota (493). The top ten for new models also featured BMW (393), Mercedes (331), Jeep (284), Renault (282), and Audi (243).

Resilience Of The Used Car Market

Used saloon cars sustained their dominance, representing over half of total registrations in the first five months of 2025. Toyota and Mazda led this segment with 2,291 and 1,653 used car registrations, respectively. Nissan, BMW, and Mercedes also registered significant numbers, further cementing the continuing consumer preference for pre-owned vehicles.

This evolving landscape underscores a dynamic market in Cyprus where consumer preferences are driving shifts in fuel efficiency, brand loyalty, and the balance between new and used vehicle acquisitions.

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Mortgage And Business Loan Rate Dynamics Among Cyprus Banks

by THEFUTURE.TEAM

January 17, 2026

Stable Mortgage Loan Rates Post-Mergers

Recent consolidations in the Cyprus banking sector have led to a striking uniformity in mortgage loan interest rates. For example, data from November 2025 reveal that Bank of Cyprus, Eurobank Ltd, and Ancoria Bank are all offering an average rate of 2.98%. Alpha Bank even offers a marginally lower rate of 2.81% for home purchases, whereas smaller market players continue to provide loans at higher costs.

Differentiated Business Loan Offerings

In contrast, business loan interest rates demonstrate greater variability. For loans up to €1 million, Alpha Bank offers the most competitive rate at 3.31%, followed by the National Bank of Greece (Cyprus) at 3.78% (NBG Cyprus). Eurobank Ltd, Kyprian Bank of Development, and Bank of Cyprus post higher averages at 4.00%, 4.46%, and 4.47% respectively, while Societe Generale Bank Cyprus and Banque SBA register even steeper rates at 6.05% and 6.54%.

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For loans exceeding €1 million, the trend remains similar: Alpha Bank leads with 3.64%, trailed by National Bank of Greece (Cyprus) at 3.99% and Bank of Cyprus at 4.18%. Eurobank Ltd and Kyprian Bank of Development follow with rates of 4.54% and 4.30%, whereas Societe Generale Bank Cyprus stands out with an average rate of 6.23%.

Competitive Deposit Rates Reflect High Liquidity

Deposits in Cyprus are offered at some of the lowest interest rates in the Eurozone, a situation that reflects the exceptionally high liquidity across the local banking systems. With a Liquidity Coverage Ratio (LCR) recorded at 319% in November 2025, well above the Eurozone median of 191%, major institutions such as Bank of Cyprus, Eurobank Ltd, and Alpha Bank feature household deposit averages of 0.67%, 1.11%, and 1.36% respectively.

Meanwhile, smaller banks including Ancoria Bank, National Bank of Greece (Cyprus), and Kyprian Bank of Development report higher deposit rates of 1.47%, 1.49%, and 1.25% respectively. For business term deposits (up to one year), Ancoria Bank offers the highest average rate at 1.51%, closely followed by Alpha Bank at 1.43%. Other institutions maintain averages between 1.12% and 1.42%, underscoring a competitive yet stratified market landscape.