Breaking news

High Occupancy Rates for Cyprus Restaurants in October; Winter Decline Anticipated

Restaurants, cafes, and bars in Cyprus experienced a strong October, with occupancy levels reaching 80 to 90 per cent, according to Neophytos Thrasyvoulou, president of the Federation of Leisure Centre Owners (Osika). He described October as a “very successful month” for the food service industry.

However, with winter approaching, Thrasyvoulou acknowledged potential challenges, especially with the impact of regional instability. “Visitor numbers have seen a slight drop in recent days,” he noted, though he hopes that occupancy levels will remain steady until mid-November. By early November, Thrasyvoulou expects visitor occupancy to hover around 50 to 60 per cent, after which the responsibility will lie with businesses to keep operating, with support from the Labour Ministry’s programme to extend the tourism season.

Reflecting on the earlier summer months of June and July, Thrasyvoulou highlighted that visitor numbers were initially lower than expected, largely due to Middle East tensions. The trend eventually improved, leading to a stronger second half of the season.

Despite rising costs, Thrasyvoulou urged business owners to maintain affordable pricing, aiming to keep dining accessible for both locals and tourists amid economic pressures.

Building Permits In Cyprus Jump 48.8% In January-February 2026

Early 2026 saw a sharp increase in building activity in Cyprus, with the number of permits issued rising by 48.8% during the first two months of the year, according to the Cyprus Statistical Service.

Substantial Growth In Permit Issuance

A total of 1,500 building permits were issued between January and February 2026, compared with 1,008 during the corresponding period of 2025. These figures point to increased activity in the construction and real estate sectors.

Enhanced Value, Area, And Housing Projections

Growth was also reflected in the value and scale of approved projects. Total permit value increased by 56.5%, while the approved floor area expanded by 54.9%. Based on the permits issued, authorities estimate that 3,463 housing units will be constructed, representing an increase of 79.2% compared with the same period last year.

February’s Standout Performance

February accounted for a significant share of the overall increase, with 711 permits issued during the month. Combined, these permits corresponded to projects valued at €379.9 million and covering 314,700 square meters. The approved developments are expected to result in the construction of 1,708 residential units.

Aretilaw firm
Uol
The Future Forbes Realty Global Properties
eCredo

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