Trade and Energy Minister George Papanastasiou and the Cyprus Chamber of Commerce and Industry (CCCI) agreed to intensify efforts to reduce electricity prices to enhance Cypriot businesses’ competitiveness. “We have reached an
One of the priorities of the new administration is to reduce the cost of electricity, to help industry and the economy reach the potential “they deserve”, said new Energy Minister George Papanastasiou.
Building permits issued in Cyprus from January to November declined by an annual 5.4%, but the total value rose 1.2%, reflecting increasing construction costs amid soaring inflation and supply chain disruptions. According to
High labour costs, plus access to energy and raw materials, are the main challenges expected to be faced by Cypriot businesses in 2023, based on the Eurochambres Εconomic Survey. The Cyprus Chamber
An accelerated increase in house prices was recorded in the second quarter of 2022, mainly due to rising construction costs, the Central Bank of Cyprus said in its quarterly property report. The
Building activity declined slightly, slowed by rising costs in the first six months of 2022 compared to the same period last year, official data shows. The construction sector’s activity fell slightly in
President Nicos Anastasiades will hold an emergency with ministers and officials from energy authorities in a bid to bring down galloping electricity prices amid an inflation tide. Anastasiadis has called for a
The construction industry is suffering as the price hike of raw materials continues, with developers crushed under higher costs as they are deprived of Russian money. Developers say some private projects in
The war in Ukraine is hurting the Cyprus real estate industry, with the already inflated cost of building materials pushed even higher as obstacles for international trade increase. According to the Central
Cyprus real estate and construction sectors are stressed from skyrocketing prices of building materials, making it harder to recover from the pandemic and scrapping of the ‘golden passports’ scheme. According to the
