Homes in Cyprus Under the Hammer: A 27% Decline in Value

by News Editor

April 30, 2025

The real estate market in Cyprus faced a significant challenge in the last quarter of 2024, as primary residences saw a drastic decline of 27% in their market value. These properties were auctioned by creditors, raising concerns for homeowners and potential investors in the region.

Insights into the Auctions

Data from the Central Bank reveals that six primary homes, originally valued at €1.2 million, were sold for €878,000. This constitutes a discount of 26.7% from their estimated worth. The auction process often results in prices lower than anticipated, influenced by legal stipulations and market responses.

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Law and Auction Prices

Legal provisions dictate that the initial reserve price of a property at auction should be at least 80% of its appraised value. If left unsold, prices can drop to 50% of the initial value after a year. This framework, combined with external market pressures, plays a crucial role in the final sale price.

New Legislative Tools for Borrowers

Recent legislative changes provide better protection for borrowers. With access to financial mediation, homeowners can negotiate and potentially avoid forced sales. For loans up to €350,000 backed by primary or commercial properties, the Financial Ombudsman can appoint mediators. Similar measures are available for terminated loans, with a six-month window to seek mediation.

For more insights, explore how new AML directives are reshaping Cyprus’s economy.

Looking Forward

The increase in property foreclosures, as evidenced by 239 mortgage properties auctioned by the end of 2024, underscores the systemic issues in the property market. Solutions must be multifaceted, considering both legal reforms and economic strategies. In a global context, this is reminiscent of initiatives like the surge in tourism revenue in Cyprus, indicating broader economic trends impacting property values.

The Future Forbes Realty Global Properties

Cyprus Ranks Among EU Leaders In Tertiary-Educated ICT Workforce

by THEFUTURE.TEAM

May 25, 2026

High Educational Attainment Sets Cyprus Apart

Recent data from Eurostat showed that Cyprus is expected to rank among the leading European countries for tertiary-educated ICT professionals in 2025. According to the figures, 96.4% of ICT professionals in Cyprus are projected to hold tertiary education qualifications, placing the country among the highest-ranked members of the European Union.

Gender Disparity Remains A Critical Challenge

Despite the high level of educational attainment, the ICT workforce in Cyprus continues to show a significant gender imbalance. Men are projected to account for 85.1% of ICT employees in 2025, while women are expected to represent 14.9% of the sector. In 2024, the split stood at 70.9% for men and 29.1% for women. The figures highlighted a widening gender gap within the country’s ICT workforce.

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European Union Trends And Comparative Analysis

Across the European Union, the number of ICT professionals is projected to increase to 3.4 million in 2025 from 3.2 million in 2024, representing annual growth of 5.1%. Men are expected to account for 83.4% of ICT employment across the bloc, equivalent to approximately 2.8 million workers, while women are projected to represent 16.6%.

National Performance Variability In Gender Representation

Countries within the EU show a varied landscape: the highest percentages of male ICT professionals are reported in the Czech Republic (92.9%), Slovenia (89.1%), Latvia (89.0%), Lithuania (88.9%), and Slovakia (88.4%). On the contrary, nations such as Denmark (30.0%), Sweden (29.8%), Romania (28.6%), Bulgaria (25.6%), and Croatia (25.2%) lead in female participation in the ICT arena.

Educational Background Across The European ICT Sector

Eurostat data also showed that most ICT professionals across the EU hold tertiary education qualifications. By 2025, 74.8% of ICT workers in the bloc are projected to have university-level education, while 25.2% are expected to hold secondary or post-secondary qualifications. Denmark recorded the highest share of tertiary-educated ICT professionals at 97.7%, followed by France at 96.6% and Cyprus at 96.4%. Other countries with high levels of tertiary-educated ICT workers included Ireland at 92.3%, Bulgaria at 91.1%, and Croatia at 90.9%. At the lower end of the ranking, Italy recorded 69.2%, while Portugal stood at 58.8%.

Conclusion

The data perfectly encapsulates the dual narrative in the ICT sector: while countries like Cyprus and Denmark achieve remarkable educational standards among ICT workers, persistent gender disparities remind us that diversity remains an ongoing challenge. As the ICT landscape continues to evolve, strategic policy formation and corporate governance will be pivotal in balancing excellence with inclusivity.

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