Cyprus Real Estate Market

Tourism has always been the backbone of Cyprus’s growth, with its “sun & sea” branding playing a pivotal role in drawing tourists. Recognizing this, the Cyprus government is now focusing on promoting tourism throughout the year and enhancing what Cyprus has to offer.

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In the realm of real estate and construction, these sectors accounted for 16% of the Gross Value Added (GVA) in 2022. The industry has witnessed a robust recovery since 2013, largely fueled by external demand.

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When it comes to financial, professional, and other services, Cyprus stands out due to its appealing tax system, comprehensive legal and regulatory framework, and a well-educated workforce. These factors collectively drive the nation’s “service economy.” The services sector, with financial and insurance activities contributing 8% and professional, scientific, and technical activities adding another 11%, stands as one of the most robust pillars of the Cypriot economy.