byprus weekly digest
8 stories that matter this week. 3 min read.
Cyprus Department of Lands and Surveys reports 3,240 transactions in Q1, driven by strong foreign demand. Limassol leads with 38% of all sales. Paphos saw the biggest jump — up 22% year-over-year, fueled by British and Israeli buyers.
Source: Financial Mirror
Council of Ministers approved the extension of the reduced VAT rate for first-time home buyers on the first €350,000 of property value. The standard 19% rate applies above this threshold. Expected to save buyers up to €49,000 on eligible properties.
Source: Cyprus News Agency
Kition Ocean Holdings began construction on the €1.2B Larnaca marina redevelopment. The project will transform the existing port area into a mixed-use waterfront with 650 residential units, retail, and a 700-berth marina. Completion expected in phases through 2030.
Source: Cyprus Mail
New data from AirDNA shows Paphos short-term rental yields outperforming all other districts. Average occupancy rate hit 71% in March. One-bedroom apartments near the harbor achieving €65-80/night. Limassol follows at 5.1% yield.
Source: byprus Research
While Limassol averages €3,100/sqm and Paphos €2,400/sqm, the capital offers significantly lower entry points. New developments in Strovolos and Engomi are attracting local buyers priced out of coastal cities. Analysts expect 10-15% appreciation over the next 2 years.
Source: RICS Cyprus
Parliament passed amendments to the Immovable Property Transfer Law, creating a fast-track process for pending title deeds. An estimated 90,000 properties still lack deeds. The new process should reduce the backlog by 60% within 18 months according to the Interior Ministry.
Source: Stockwatch
Eurostat confirmed Cyprus as the fastest-growing Eurozone economy last year. Tourism, professional services, and ICT drove the expansion. Unemployment fell to 5.8%. The Central Bank projects 2.8% growth for 2026.
Source: Eurostat
Statistical Service data shows construction activity accelerating. Nicosia leads with 890 permits (driven by the Cyfield 360 tower and surrounding developments), followed by Limassol at 780. Residential permits account for 72% of the total.
Source: CYSTAT
March 31, 2026
Week 13
Bank repos surge: REMU adds 200 new properties at 30-50% below market
March 24, 2026
Week 12
Permanent residency applications hit record high in Q1
March 17, 2026
Week 11
Limassol high-rise moratorium: What it means for investors
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