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real estate market dynamics

Cyprus Real Estate Market Faces a Slowdown

The Cyprus real estate market is currently facing a slowdown, with house and apartment prices decelerating and sales declining due to rising lending rates and high construction costs. Regional disparities exist, with Paphos and Famagusta seeing price increases while other areas progress more slowly, leading to a market recalibration.

real estate cyprus

Cyprus Property Market: Recent Trends and Future Outlook

In Cyprus, apartment prices have surged by 6.3% and rents by 9.3%, fueled by foreign investment and incentives like the ‘Golden Visa.’ The market is expected to see continued growth in the short term, with technological advancements and increased housing supply shaping a more stable future outlook.

banking insurance

Hellenic Bank’s Strategic Move: Acquiring CNP Insurance Operations

Hellenic Bank made a bold move by acquiring CNP Insurance’s operations in Cyprus and Greece, aiming to diversify revenue sources and dominate the insurance market. This strategic expansion not only boosts market share but also enhances overall financial resilience, setting Hellenic Bank on a path towards becoming a leading financial institution in the region.

tourism sustainability

Navigating New Challenges in Cyprus’ Tourism Sector

Cyprus’ tourism sector is navigating challenges like a gap between tourist arrivals and hotel occupancy, labor shortages, and high energy costs. With the loss of key markets like Russia and the need for sustainable practices, the industry is facing economic pressures impacting profitability.

cyprus global trade presence

Cyprus Business Now: Global Endeavours and Market Dynamics

Cyprus is strengthening its global trade presence by participating in international exhibitions such as the FHC Shanghai 2023 and PROWINE Shanghai 2023, showcasing local products like halloumi cheese and wines. This strategy helps to elevate Cyprus’s commercial profile and foster business relationships in competitive markets. Additionally, the country is experiencing fluctuations in petroleum product sales and stock market performance, reflecting the complexities of the global economy.

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