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economic factors

property market rental market

Stability in prices, notable rise in apartment rents

The Cypriot property rental market is seeing a notable rise in apartment rents, increasing by 5.0 percent annually, while sales prices remain stable. This trend reflects a shift in consumer preference towards renting over buying, driven by factors like high construction costs and mortgage rates.

banking risk management

Fitch Ratings Upgrades Hellenic Bank to BBB-; Outlook Stable

Fitch Ratings upgraded Hellenic Bank to ‘BBB’ from ‘BB+’, reflecting improved creditworthiness and stable outlook. Strong support from main shareholder Eurobank Ergasias SA and effective management of nonperforming loans contributed to the positive change in rating, indicating confidence in the bank’s future performance.

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