Cyprus Sees 1.8% Population Growth In 2023, Statistical Data Reveal

by THEFUTURE.TEAM

January 16, 2025

The population in the Government-controlled areas of Cyprus reached an estimated 966,400 by the end of 2023, up from 949,100 in 2022, reflecting a 1.8% increase, according to demographic statistics published by the Statistical Service on Wednesday.

The data highlight the ageing of Cyprus’ population. In 2023, children under 15 years made up 15.3% of the population, while individuals aged 65 and over accounted for 17.7%. This is a notable shift from 2000 when children represented 22.3% and the elderly just 11.3%.

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Birth Rates

Births in the Government-controlled areas saw a slight increase, reaching 10,241 in 2023, up from 10,187 the previous year, resulting in a crude birth rate of 10.7 per 1,000 people. However, the total fertility rate remained unchanged at 1.4, well below the replacement level of 2.1, and a significant decline from its local peak of 2.5 in 1982.

Women in Cyprus are having children later in life, with the average age at first birth rising to 30 years, and the mean age at childbirth, regardless of order, increasing to 31.5 years.

Mortality And Life Expectancy

Deaths in the Government-controlled areas dropped to 6,742 in 2023, compared to 7,307 in 2022, bringing the crude death rate down to 7 per 1,000 population from 7.8.

Life expectancy improved slightly, reaching 81 years for males and 85 years for females in 2023, compared to 80.2 and 83.9, respectively, in 2022. However, infant mortality rose from 3.3 to 4.5 deaths per 1,000 live births.

Migration Trends

Cyprus has maintained positive net migration since 2016. In 2023, net migration was estimated at 13,782. Long-term immigrants—both Cypriots and foreigners—totalled 40,761, compared to 37,558 in 2022. Conversely, the number of emigrants rose to 26,979, up from 21,118 the previous year.

Marriage And Divorce Statistics

The total number of marriages declined in 2023, falling to 11,766 from 13,350 in 2022. Ecclesiastical marriages saw a small drop, from 4,486 in 2022 to 4,355 in 2023. Civil marriages experienced a sharper decline, from 8,864 to 7,411, with only 2,076 involving residents of Cyprus.

The number of divorces, however, increased significantly, reaching 2,134 in 2023, up from 1,503 in 2022. The crude divorce rate rose to 2.23 per 1,000 people, while the total divorce rate—indicating the percentage of marriages expected to end in divorce—surged to 347.8 per 1,000 marriages, a dramatic increase from 41.6 per 1,000 in 1980.

The Future Forbes Realty Global Properties

Cyprus Permit Delays Can Add €61,000 To The Cost Of A New Home

by THEFUTURE.TEAM

August 25, 2026

Housing affordability in Cyprus is being affected not only by property prices, construction costs and interest rates, but also by delays in securing planning and building permits. For developers, years of waiting can add millions of euros to project costs and tens of thousands of euros to the price of an individual home.

Property Prices And Rents Continue To Rise

House prices in Cyprus rose 3.4% year on year in the first quarter of 2026, according to Eurostat, leaving prices about 50% above their 2015 level. Rents have also continued to increase, with the Cyprus Statistical Service reporting annual growth accelerating from 2.5% in January to 4.5% in April.

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Strong demand and limited supply are adding pressure to both markets. Delays earlier in the development cycle can further restrict the number of homes reaching the market.

Four-Year Delay Adds €6.3 Million To Project Costs

A recent analysis by Yiannis Misirlis, chairman of the Cyprus Land and Building Developers Association, illustrates the financial impact. The example involves a 125-apartment project with €7 million allocated to land and an estimated €25 million for construction, bringing the initial cost to €32 million.

If permits are secured within six months, the average sale price would be about €307,000 per apartment. A four-year permitting delay, however, would add about €1.7 million in financing costs tied to the land, €800,000 in additional overheads and €3.8 million from construction cost inflation.

Combined, those costs would add about €6.3 million to the project without increasing the developer’s profit. The average apartment price would rise to about €368,000, adding roughly €61,000 to each unit.

Delays Also Affect Rental Supply

Higher development costs can affect renters as well as buyers. When projects are delayed, fewer homes enter the market over a given period, limiting supply while demand continues to grow.

Build-to-rent projects face the same pressures from land costs, financing, overheads and construction inflation. Developers may ultimately pass some of those additional costs through to rents.

Government Moves To Increase Housing Supply

Reducing permitting times would not require weaker planning controls or construction standards. More predictable approval timelines would instead allow developers and investors to plan projects with greater certainty and reduce the costs associated with prolonged delays.

The Ministry of Interior has introduced planning incentives and additional building coefficients that are expected to support the construction of more than 2,500 homes over the next two years. The measures are intended to increase housing supply in a market where demand remains strong.

Permitting Delays Have A Direct Financial Cost

For developers, longer approval periods increase financing and overhead costs while exposing projects to higher construction prices. Those costs can ultimately affect sale prices, rents and the number of homes that reach the market.

Cyprus’ housing affordability challenge therefore extends beyond land and construction costs. The time required to move a project from planning to construction can also determine how much buyers and renters eventually pay.

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