Inflation went up by 1.8% in February
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February had a minor increase in inflation, amounting to 1.8% more than the same month the previous year. The primary cause of this increase is the expansion of the services sector. This is in contrast to the significant decline in inflation that was observed in the months of November, December, and January of 2023, as […]
Cyprus property sales jump 14% in February
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The Department of Lands and Surveys has released new figures showing a significant increase in property sales in the Cyprus real estate market in February 2024. Comparing the same time last year to this one, the statistics showed a 14% increase in the total number of property sales contracts deposited at Land Registry offices throughout […]
Rising real estate prices expected according to Central Bank
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Recent statements from the Central Bank indicate that price increases are forthcoming in the real estate market. The Central Bank emphasised in its December 2023 Economic Bulletin that the outlook for property prices is still positive. Throughout the first ten months of 2023, the index that measures expectations for housing prices over the following three […]
New push for glamping legislation: what you need to know
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After being delayed for months, the much-anticipated measure that would have established and regulated high-end “glamping” campsites is back on the government’s agenda. The Parliamentary Committee on Tourism’s efforts have helped to move the bill forward after it was stalled in Parliament for over a year. The bill was first presented by former deputy minister […]
New Lobbying law coming into effect in March
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With the official implementation of the Lobbying Law by the Independent Authority against Corruption, which takes effect tomorrow, March 1, there will be important changes ahead. The Transparency in Public Decision-Making Processes Act 20(I)/2022, which contains the entirety of Lobbying Legislation, states that it will go into effect on March 1, 2024. This implies that […]
€7 million sponsorship scheme: businesses in focus
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Businesses in Cyprus are showing interest in a €7 million sponsorship initiative. On February 20, 2024, Stella Michaelidou, the State Aid Control Officer, formally announced the decision on an aid measure titled “Grant Scheme for the Creation, Modernisation and Digital Upgrading of Units for the Processing and/or Marketing of Agricultural Products – 2nd call.” This […]