January’s total sales reached 1,275 properties, according to the land department, marking a significant uptick from the 1,056 properties sold in the previous year. Limassol led the way, recording 429 sales this January, up from 315 in the same month last year, accounting for about one-third of the total sales and reflecting a 36 per cent increase—the highest among all districts. Following closely, Nicosia saw its property sales rise by 13 per cent to 276, up from 244 the year before. Larnaca also showed significant growth, with sales increasing by 20 per cent to 259 properties compared to 215 in January 2024. In Paphos, there was a modest rise of 5 per cent, with property sales in January 2025 reaching 255, up from 242 in the corresponding month the previous year. Meanwhile, Famagusta displayed the most substantial proportional increase, with a 40 per cent surge in sales, marking 56 transactions this January compared to 40 in January 2024.

James Peacock, who leads product development at XMAR, also praised Cyprus’ burgeoning status as a tech-minded maritime centre. He explained that as shipping continues to digitise, Cyprus is seeing an increase in companies working on AI, data-driven decision-making, and digital platforms for ship operators. The industry’s shift towards efficiency and transparency is creating opportunities for companies that can solve long-standing inefficiencies. He also mentioned that “XMAR is one example of a company that saw the potential in Cyprus early”.

The platform was built to simplify bunker procurement, cutting through the complexity of fuel buying with real-time pricing, automated contract management, and flexible financing options. “Being based in Cyprus allows XMAR to stay close to the industry while building technology that serves a global market,” Peacock said. “We needed a base that was connected to shipping but also forward-looking,”, he added. “Cyprus gives us that balance,” Peacock continued. “The shipping community here is strong, and there’s a growing appetite for digital solutions. It’s a great place to build for the future.”

Stork also noted that with more than 200 shipping companies operating on the island and the sector contributing over seven percent of GDP, Cyprus is already a major player in European shipping. However, he pointed out that the momentum is shifting towards a broader role—one that includes sustainability, digital transformation, and alternative fuels.

Notably, green shipping initiatives, regulatory changes, and the push for more efficient operations are creating new challenges for ship operators. “Companies in Cyprus are well-placed to meet those challenges, whether through better fuel procurement, smarter voyage planning, or new financing solutions for shipowners,” Stork said. “For shipping professionals and businesses looking for a place to grow, Cyprus offers the rare combination of industry depth, business stability, and quality of life,” he added. “As the sector evolves, the island is proving to be more than just a ship management hub. It’s becoming a centre for the next generation of maritime solutions,” the XMAR CEO concluded.

Source: Cyprus Mail