Breaking news

Toufan Erchiourman Criticizes Energy Strategy, Demands Inclusion Of Turkish Cypriot Rights

In a pointed Facebook post, Turkish Cypriot leader Toufan Erchiourman leveled criticism at President Nikos Christodoulidis over the handling of the “Great Sea Interconnector” project and other recent energy initiatives across Cyprus. Erchiourman emphasized that as equal co-founders of the island, Turkish Cypriots must not be sidelined when decisions have profound implications for energy infrastructure and maritime jurisdictions.

Historic Position And Sovereign Rights

Erchiourman reiterated that the objections expressed well before the election season regarding the Interconnector project are publicly known. He argued that any resolution related to energy or maritime zones must fully acknowledge Turkish Cypriot rights. This perspective underscores his broader assertion that disregarding these rights compromises the foundational principle of equal partnership in governing the island’s future.

A Call For Genuine Dialogue

The leader further clarified his position by stating that he would refrain from engaging with southern comments on a comprehensive solution until substantive negotiations begin. While President Christodoulidis advocates for immediate talks, Erchiourman criticized the simultaneous push for projects such as the Israeli natural gas pipeline, which he contends undermines the credibility of the commitment to a balanced and lasting resolution.

Commitment To A Stable Future

Concluding his remarks, Erchiourman asserted that the Turkish Cypriot side remains steadfast in its efforts to cultivate an environment conducive to a durable solution on the island. However, he warned that any initiative jeopardizing this hard-won stability by ignoring Turkish Cypriot interests will not go unchallenged.

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.

Aretilaw firm
eCredo
Uol
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter