Real estate sales in Cyprus rose by 12 per cent in the first four months of 2025 compared with the same period last year.

In addition, figures for the month of April showed a slight nationwide increase despite small drops in Larnaca and Paphos.

According to data from the Department of Land and Surveys, 1,404 property transactions were recorded across the island in April 2025, up from 1,366 in April 2024, an increase of 3 per cent.

From January to April this year, the total number of sales documents filed with district land registry offices reached 5,541, compared to 4,963 during the same period in 2024.

Cyprus is doubling down on its commitment to a greener, more competitive maritime sector, with a renewed push to enhance the Cyprus flag’s standing on the international stage, Shipping Deputy Minister Marina Hadjimanolis said this week during a policy briefing in Nicosia.

“Our goal is to create a dynamic ecosystem and shape a sustainable, competitive environment for Cypriot shipping,” she said, reaffirming the ministry’s full alignment with its long-term strategy.

“After two years of reforms, the results are already visible“, mentioned the deputy minister.

She noted that efforts to improve competitiveness, upgrade services, enhance safety, and strengthen bilateral ties have made Cyprus a credible player in global shipping.

The sector now contributes around 7 per cent to GDP and, according to the deputy minister, its social and political relevance is equally notable.

George Pantelides took over as president of the Employers and Industrialists Federation (Oev) on Wednesday, replacing the outgoing Antonis Antoniou, during the organisation’s annual general assembly held in Nicosia.

Pantelides was elected unanimously by the board and used his first address to set out a bold strategic goal, which is to upgrade Cyprus’ credit rating to AAA.

He said this goal could only be achieved through targeted investment in three pillars. These are people, value and competitiveness.

The incoming president emphasised that these three areas must guide reforms and policy in the coming years, while also highlighting the importance of accelerating the digital transformation in both the public and private sectors.

Cyprus recorded an average monthly full-time salary of €2,203, placing it below the EU benchmark of €3,155 but still above the €2,000 mark.

The figures, based on 2023 Eurostat data, highlight a sharp divide in earnings across the bloc, from €1,125 in Bulgaria to €6,755 in Luxembourg.

Western and Northern European countries continue to dominate the upper end of the pay scale.

Apart from Luxembourg, Denmark was the only other EU country where average salaries exceeded €5,000, offering €5,634.

Ireland (€4,890) and Belgium (€4,832) followed closely, while Austria (€4,542), Germany (€4,250) and Finland (€4,033) also posted monthly earnings above €4,000.

Around ten member states reported average salaries below €2,000. Poland remained just above €1,500, while Romania, Greece and Hungary hovered closer to €1,400.

Applications are now open for the 2025 the 8th annual ‘Young Entrepreneurship Awards’, organised by Cyprus Chamber of Commerce and Industry (Keve) announced.

The chamber also noted that the event will be held under the auspices of president Nikos Christodoulides. 

The initiative is organised by Keve in collaboration with Thessalonikis Dromena, with support from the Ministry of Energy, Commerce and Industry, Hellenic Bank, and the Cyprus Youth Organisation. 

Now in its eighth year, the annual awards aim to honour businesspeople under the age of 40 who are actively shaping Cyprus’ economic and social landscape.  

As Keve explained, the initiative is open both to self-made entrepreneurs and to younger professionals who have taken over long-standing family businesses.

Greek retail chain Jumbo Group this week reported a significant increase in store sales across Cyprus and Greece for April 2025, continuing the upward trend seen earlier this year.

Specifically, sales at Jumbo’s Cyprus stores rose by 7 per cent in April compared to the same month last year. This brought total sales growth in Cyprus for the January–April period to 6 per cent year-on-year.

Across the group, April sales increased by 5 per cent, while sales for the first four months climbed by 7.4 per cent compared to the same period in 2024.

Management attributed part of the fluctuation in sales performance to the timing of Easter, which this year fell on April 20, compared to May 5 last year.

The president and CEO of Greece’s Independent Power Transmission Operator (Admie) Manos Manousakis described the recent developments in cross-border energy interconnections as a positive step forward for regional energy security.

Speaking at the 5th OT Forum on Wednesday, he welcomed the announcement by Israeli authorities regarding the planned signing of an agreement by the end of the year for the Cyprus–Israel segment of the Great Sea Interconnector.

“As the project’s implementing agency, we were already aware of this,” said Manousakis.

“Israel, as an energy ‘island,’ takes the project very seriously because it directly concerns its energy security,” he added.

He also also said that “it is very encouraging that the Israeli Prime Minister himself presented it as a matter of national energy security”.

The Cyprus Institute of Certified Public Accountants (Selk) has reiterated its stance on the importance of a robust and well-structured tax system that supports sustainable economic growth and secures social justice by strengthening incentives for entrepreneurship and development.

The organisation expressed this position during a meeting with Akel leader Stefanos Stefanou, as part of its ongoing dialogue with parliamentary parties.

According to a statement issued by Selk, the meeting served as a “constructive opportunity for exchanging views and forming joint conclusions regarding improvements to the country’s tax system”.

The discussion focused on tax reform and other pressing issues concerning the Cypriot economy.

European financial technology provider payabl. on Wednesday announced a new integration with AI-driven fraud platform Sift.

The company, which has a precense in Cyprus, said that the new collaboration will enhance its payments system with real-time, automated fraud prevention tools designed to support secure growth for merchants.

The partnership enables payabl.’s merchant customers to access Sift’s AI-powered identity trust engine, giving them the ability to detect and prevent fraud at scale, while reducing chargebacks and increasing approval rates without introducing friction to the customer experience.

The integration also enables merchants operating in the European Economic Area (EEA) and the United Kingdom to become more eligible for Transaction Risk Analysis (TRA) exemptions, allowing them to improve conversion rates while remaining fully compliant with regulatory requirements.

The Cyprus Economy and Competitiveness Council on Wednesday underscored the urgent need for strict fiscal discipline and targeted strategic investments.

It also warned that escalating trade tariffs and geopolitical instability are shaping an environment of heightened economic risk that could derail the country’s growth trajectory.

According to a statement issued by the council, while these developments are not expected to have significant immediate economic effects, they nonetheless pose serious threats to the long-term stability of the Cypriot economy.

The Council noted that the International Monetary Fund (IMF) has already cautioned that rising trade tensions and policy uncertainty could limit economic growth both in the short and long term.

It added that the University of Cyprus Economic Research Centre (ERC) has also identified risks related to both economic growth and fiscal sustainability.