Cyprus’ real estate market is growing while getting pricier, as the number of properties rises by 1.5%, while their overall value increased by 2.2% based on January 2021 prices compared to 2018 data.

Underwater work to better illustrate the ancient port of Amathuntas begins on Thursday, June 30, according to the Antiquities Department. This will be a part of a project to develop a diving tourism network.

Larnaca’s makeover is not limited to the €1.2 billion redevelopment of its marina and port already taking shape, as two residential towers and a hotel called the Staston Project has been given the green light from environmental authorities.

The average gross monthly earnings of employees during the first quarter of 2022, amounted to €2,019 compared to €1,891 during the first quarter of 2021, recording an increase of 6.8%, according to data published, on Wednesday, by the Cyprus Statistical Service.

Faced with pushback from MPs and building industry stakeholders, the government on Monday agreed to – again – rethink parts of a bill providing for reduced VAT on first homes.

Cyprus can become a regional educational, research and excellence centre, said President Nicos Anastasiades addressing the University of Cyprus graduation ceremony.

Cyprus supports the creation of a common platform for the supply of natural gas, as well as the EU providing financial support for innovative green technologies to mainly address the needs of the Southern Mediterranean, the permanent secretary of the Ministry of Energy, Marios Panayides, said during a meeting of the Council of EU Energy Ministers held in Luxembourg on Monday.

The Electricity Authority of Cyprus is waiting for the green light from the Environment Protection Department for the largest-scale photovoltaic park to be built in the Ahera area.

Total sales of petroleum products increased by 34% on an annual basis in May 2022, while total petroleum reserves decreased by 17.1% (18,020 tons) at the end of May 2022, compared to the end of May 2021.

The economic sentiment in Cyprus deteriorated in June, pushed downwards by weaker business confidence in services, industry and retail trade.