Cyprus’s Short-Term Rental Boom Spurs Sweeping Regulatory Overhaul

Rapid Market Expansion

In a dramatic shift within the Cypriot tourism sector, short-term rental properties have surged sixfold in under three years. With an estimated 12,000 to 13,000 properties on the market, only 8,375 currently comply with registration requirements enacted in July 2021. This unprecedented growth is prompting authorities to tighten regulatory oversight and reinforce tax compliance measures.

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Key Trends and Regional Hubs

Data submitted by the Deputy Ministry of Tourism illustrates a notable upward trend: 4,765 accommodations were recorded by April 2023, providing 21,636 beds. This figure increased to 7,001 by April 2024 and reached 8,375 units by mid-May 2025. Leading the charge are Paphos and Famagusta, which together account for over two-thirds of the registered listings. Paphos boasts 3,957 rental units with 17,802 beds, while Famagusta follows with 1,702 properties and 8,728 beds. Other regions, including Larnaca, Limassol, and Nicosia, maintain substantial yet comparatively lower numbers.

Enhanced Enforcement and Compliance

The regulatory framework mandates that only officially registered properties, displaying their unique registration number in all advertisements, may be leased. Digital platforms like Airbnb and Booking.com are compelled to enforce these rules, facing stringent penalties for unregistered listings. Since the commencement of inspections, authorities have documented 52 complaints against unlicensed operators, and the Tax Department has initiated focused audits addressing VAT, income tax, and other contributions.

Legislative Reform and Future Directions

In an effort to align national practices with an impending EU regulation due to be enforced on May 20, 2026, the parliamentary Commerce Committee is reviewing a landmark bill. This legislation will require platforms to provide regular, detailed reports on short-term rentals and compel landlords to disclose registration details transparently. The Deputy Ministry of Tourism is set to act as the principal regulatory authority, ensuring adherence to data registration and compliance requirements.

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Bank Of England Holds Rates At 3.75% In Split Vote As Inflation Risks Rise

by THEFUTURE.TEAM

September 17, 2026

The Bank of England kept its benchmark interest rate at 3.75% on Thursday, but the decision was not unanimous. In a 6-3 vote, the Monetary Policy Committee kept rates unchanged, while three members backed a 25-basis-point increase to 4%. Renewed energy price pressures have added to concerns that inflation could remain elevated.

Inflation Pressures Remain

Policymakers said inflation “is likely to rise further over coming quarters,” citing higher and more volatile crude oil and refined energy prices since the conflict began.

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So far, there has been “little evidence” of significant second-round effects, such as broader wage and price increases. Inflation risks, however, are now “tilted to the upside” and have increased since the July Monetary Policy Report.

Energy Prices Add To Inflation Risks

Brent crude has risen 36% since July, reaching $106 a barrel on Sept. 14, while UK wholesale gas prices increased 78% to 207 pence per therm.

Higher energy costs can feed into transport, production and household expenses, raising costs across supply chains. Refinery pressures have also pushed crack spreads, the difference between refined fuel and crude prices, well above pre-conflict levels.

Economy Shows Resilience

Despite the inflation risks, UK economic activity has held up slightly better than the Bank expected. A softer labor market and higher borrowing costs are expected to help reduce inflation over time.

Previous monetary tightening is still working through the economy, according to policymakers. So far, the latest energy shock has not produced clear evidence of a broader wage-price spiral.

Major Central Banks Take Different Paths

The decision comes during a busy period for global monetary policy. The Federal Reserve raised rates Wednesday to 3.75%-4% in its first increase since 2023, while the European Central Bank recently lifted its deposit rate to 2.5%.

The Bank of Japan is due to announce its decision Friday, with markets expecting a rate increase. Thursday’s split vote shows that pressure for tighter policy remains within the Bank of England’s Monetary Policy Committee.

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