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Department Of Road Transport Launches Electronic Draw For Electric Mobility Subsidies

Electronic Draw To Enhance Transparent Awarding Process

The Department of Road Transport is set to conduct an electronic draw on Tuesday, December 9, 2025, at 13:00 to determine the beneficiaries for the fourth announcement under the Electric Mobility Subsidy Scheme. The event will be hosted in the conference room of the Ministry of Transport, Communications and Works, where media representatives will be present to ensure full transparency and equal opportunity throughout the process.

Online Submission Under The Recovery And Resilience Plan

This new call is an integral part of the Recovery and Resilience Plan. Eligible applications must be submitted exclusively online between 09:00 on December 5, 2025, and 09:00 on December 9, 2025, streamlining the process and enhancing administrative efficiency.

Simplification Of Verification Mechanism – Extended Vehicle Registration Deadline

In a pivotal shift guided by European authorities, the verification mechanism for subsidy eligibility will now rely on the completion of vehicle registration rather than the disbursement of funds. This change is expected to significantly reduce delays and accelerate program implementation, allowing approved vehicles to finalize their registration by June 30, 2026.

Budget Allocation Details – 520 Subsidies, €5.62 Million Total

The fourth announcement allocates a total budget of €5,620,000 dispersed across 520 subsidies. The breakdown of the funding is as follows:

  • Category Δ5 – New Zero-Emission Private Vehicles: Subsidy of €9,000 per vehicle for 380 awards, totaling €3,420,000.
  • Category Δ7 – New Zero-Emission Vehicles For Persons With Disability: Subsidy of €20,000 per vehicle for 40 awards, totaling €800,000.
  • Category Δ8 – New Zero-Emission Vehicles For Large Families: Subsidy of €20,000 per vehicle for 40 awards, totaling €800,000.
  • Category Δ9 – Used Zero-Emission Private Vehicles: Subsidy of €9,000 per vehicle for 50 awards, totaling €450,000.
  • Category Δ10 – New Electric Vehicles (Category N1 Up To 3,500 Kg): Subsidy of €15,000 per vehicle for 10 awards, totaling €150,000. More details on the electric vehicle initiative can be found here.

This strategic allocation underscores the government’s commitment to promoting clean energy and accelerating the adoption of zero-emission vehicles across the country.

Cyprus Residential Market Surpasses €2.5 Billion In 2025 With Apartments Leading the Way

Market Overview

In 2025, Cyprus’ newly built residential property market achieved a remarkable milestone, exceeding €2.5 billion. Data from Landbank Analytics indicates robust activity countrywide, with newly filed contracts reaching 7,819, including off-plan developments. This solid performance underscores the market’s resilience and dynamism across all districts.

Transaction Breakdown

The apartment sector clearly dominated the market, constituting 81.6% of transactions with 6,382 deals valued at €1.77 billion. In contrast, house sales represented a smaller segment, encompassing 1,437 transactions and generating €737.9 million. The record-high transaction was noted in Limassol, where an apartment sold for approximately €15.2 million, while the priciest house fetched roughly €6.2 million.

Regional Analysis

Nicosia: The capital recorded steady domestic demand with 2,171 new residential transactions. Apartments accounted for 1,836 deals generating €349.6 million, compared to 335 house transactions worth €105.5 million, anchoring Nicosia as a core market with average values of €190,000 for apartments and €315,000 for houses.

Limassol: As the island’s principal investment center, Limassol led overall activity with 2,207 transactions. Apartments dominated with 1,936 sales generating €824.1 million, while 271 house transactions added €157.9 million. The district enjoyed premium pricing, with apartments averaging over €425,000 and houses around €583,000.

Larnaca: This district maintained robust activity with a total of 2,020 transactions. The apartment segment realized 1,770 transactions worth €353 million, and houses contributed 250 deals valued at €96.3 million. Average prices hovered near €200,000 for apartments and €385,000 for houses, positioning Larnaca within the mid-market bracket.

Paphos: With a more balanced mix, Paphos completed 1,078 transactions. Ranking second in overall value at €503.2 million, the district saw house sales generate €287.8 million and apartments €215.4 million. Consequently, Paphos achieved the highest average house price at approximately €710,000 and an apartment average of €320,000, emphasizing its premium housing profile.

Famagusta: Distinguished by lower transaction volumes, Famagusta was the sole district where house sales outnumbered apartment deals. Out of 343 transactions, 176 involved houses (yielding €90.4 million) and 167 were apartments (at €32.4 million). The segment’s average prices were about €194,000 for apartments and over €513,000 for houses, signaling its focus on holiday residences and coastal developments.

Sector Insights and Forward View

Commenting on the report, Landbank Group CEO Andreas Christophorides remarked that the analysis demonstrates an ecosystem where apartments are the cornerstone of the real estate market. He emphasized, “The apartment sector is not merely a trend; it is the engine powering the country’s real estate market.” Christophorides also highlighted the diverse regional dynamics: Limassol leads in apartment pricing, Paphos commands premium house prices, Nicosia remains pivotal to domestic demand, Larnaca sustains competitive activity, and Famagusta caters to holiday home buyers.

In a market characterized by these varied profiles, informed monitoring of regional and sector-specific dynamics is crucial for investors aiming to make targeted and strategic decisions.

Uol
The Future Forbes Realty Global Properties
Aretilaw firm
eCredo

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