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Geneva Mediation For Hotel And Construction Contracts In Cyprus

by THEFUTURE.TEAM

June 11, 2024

As part of the International Labour Organization (ILO) annual meeting in Geneva, Cyprus’s Minister of Labour, Yiannis Panayiotou, is set to engage in informal discussions with key stakeholders in the hotel and construction sectors. These talks aim to address the ongoing disputes regarding the renewal of collective agreements, which have been unresolved since May 2022. The main contention lies in the unions’ demand for legally regulated wages and contract terms, opposed by employers. Panayiotou’s mediation proposal, expected by the end of June, seeks to reconcile these differences and establish a mutually agreeable framework.

Background of the Dispute

The expiration of collective agreements in May 2022 has left a significant gap in the legal regulation of wages and contract terms in these critical sectors. The unions have been advocating for robust legal frameworks to ensure fair wages and working conditions, highlighting the necessity of such measures for worker protection and industry stability. Conversely, employers argue that increased regulation may lead to inflexibility and higher operational costs, potentially impacting the sectors’ competitiveness and growth.

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Importance of Mediation

The mediation in Geneva represents a crucial effort to find common ground between the conflicting parties. Panayiotou’s approach involves leveraging the neutral environment of the ILO meeting to facilitate open dialogue and foster a collaborative spirit. The outcome of these talks is vital for maintaining industrial harmony and ensuring that both employees’ rights and employers’ operational concerns are adequately addressed.

Broader Implications

Resolving these disputes is not just about immediate contractual terms; it reflects the broader economic and social landscape of Cyprus. Successful mediation could set a precedent for future negotiations in other sectors, promoting a balanced approach to labour relations. Furthermore, achieving a consensus would enhance the stability and attractiveness of the Cypriot labour market, potentially leading to increased investment and growth in the hotel and construction industries.

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Portugal’s Housing Market Sets New Highs As Prices Continue To Climb

by THEFUTURE.TEAM

October 2, 2026

Portugal’s housing market has entered another record-setting phase, with prices reaching an all-time high in September and reinforcing the country’s position among Europe’s hottest property markets.

According to the Idealista price index, home prices rose 7.9% year on year in September and advanced 0.6% from August. Based on median values, the cost of buying a home climbed to 3,228 euros per square metre nationwide.

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Regional Price Growth Remains Uneven

The sharpest increases were concentrated in several district capitals and autonomous regions. Vila Real led the country with a 17.8% annual rise, followed by Leiria at 17.6%, Beja at 14.4%, Faro at 14.3% and Guarda at 14%.

Among the regions, Centro posted the strongest overall growth. At the other end of the spectrum, prices rose more modestly in Aveiro (9.3%), Setúbal (9.1%), Porto (9%), Castelo Branco (9%), Ponta Delgada (7.1%), Funchal (5.3%) and Lisbon (4.4%).

Lisbon remains the country’s most expensive city for buyers, with a median price of 6,256 euros per square metre. The wider Lisbon region is also the costliest area in Portugal to purchase housing, with a median price of 4,501 euros per square metre.

Portugal Leads The European Union In Price Growth

The surge is not limited to the domestic market. Portugal also posted the strongest house price growth in the European Union in the second quarter of 2026, according to the latest Eurostat data.

Eurostat said Portugal recorded a 16.5% increase compared with the same quarter a year earlier, ahead of Bulgaria at 15.5% and Lithuania at 14.3%. By contrast, Finland, Luxembourg and France were the only member states where prices declined.

Across the bloc, housing prices rose 4.0% in the euro area and 4.7% in the EU year on year in the second quarter of 2026. On a quarterly basis, prices increased by 1.1% in the euro area and 1.2% across the EU.