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July 2024

housing market short-term rentals

The Impact of Short-term Rentals on the Cyprus Housing Market

Shortterm rentals in Cyprus are booming, crowding out the housing market and driving rents up, particularly affecting residents, students, and lowincome families. Calls for regulation aim to strike a balance between catering to tourists and ensuring affordable housing availability, following successful examples from other touristheavy cities.

luxury development

Transforming Larnaca: A New Era of Luxury Awaits

Larnaca is undergoing a transformation into a luxury destination, with projects like the “Palm Beach Resort” promising a blend of modernity and sustainability. By 2025, this development will symbolize the city’s renaissance, offering a harmonious blend of comfort and indulgence on the reclaimed coastline.

weather heatwave

Battling the Heatwave: Cyprus Braces for Scorching Sunday

Cyprus is bracing for a scorching Sunday as temperatures are expected to hit around 40°C, prompting a yellow warning. Residents are advised to stay hydrated, avoid peak sun hours, and take precautions against heatrelated illnesses. Stay updated with the weather, follow safety advice, and be prepared for the upcoming heatwave.

military diplomacy

Cyprus’ National Guard: A Display of Pageantry and Pride

Cyprus’ National Guard recently marked 60 years with a grand parade, showcasing its operational prowess in the presence of President Nicos Anastasiades. The event highlighted the Guard’s significance in safeguarding the nation’s safety and sovereignty, alongside political intentions to enhance military capabilities and defense readiness.

investigation corruption

Uncovering the Controversy: Vasiliko LNG Terminal Investigation

The Vasiliko LNG terminal controversy involves allegations of procurement fraud, misappropriation of EU funds, and corruption, with an investigation by the European Public Prosecutor’s Office examining irregularities in the contract awarded to a Chineseled consortium. The project, estimated at €500 million, bypassed competitive tenders and overpaid for a Floating Storage Regasification Unit, raising questions about financial decisions and governance in this highstakes infrastructure deal.

drug enforcement cannabis seizure

Major Cannabis Seizure in Limassol

In Limassol, Cyprus, a major drug bust led to the seizure of 40 kilograms of cannabis, two guns, and ammunition, and the arrest of a 36yearold suspect. The operation, conducted by the YKAN (Drug Law Enforcement Unit), highlights the successful efforts of local authorities in combating drug trafficking and associated criminal activities.

salary increase fiscal reform

Public Payroll Upturn amid Austerity Measures

The recent 1.5 percent salary raise for civil servants challenges fiscal reform efforts amid austerity measures in Cyprus. Critics raise concerns about increased government spending and the need for future austerity measures if GDP growth does not offset these rising costs, emphasizing the necessity of structural changes for efficient and sustainable public sector operation.

groundwater geological promise

Discovering Abundance: Groundwater Breakthrough in Northern Foothills

The groundbreaking discovery of the “largest ever” groundwater source in the Pentadaktylos mountain range, boasting a capacity of 80 tonnes of water per hour at 168 metres depth, brings hope and relief to local communities struggling with water scarcity. This significant find underscores the importance of sustainable environmental management, showcasing the potential of natural resources hidden beneath the rugged terrain of the northern foothills.

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