Here are the top business stories in Cyprus from the week starting July 7:

Cyprus recorded a 2 per cent rise in house prices in the first quarter of 2025 compared with a year earlier, while rents continued to increase across the island, Eurostat data showed.

Across the European Union, property prices rose 5.7 per cent year-on-year and 1.4 per cent from the previous quarter.

Rents increased 3.2 per cent annually and 0.9 per cent on a quarterly basis, adding to household pressures in many member states.

The Evangelismos hospital in Paphos is set to be acquired following the signing of a sale agreement, pending final approval from the Cyprus Commission for the Protection of Competition (CPC).

The buyer, Hellenic Healthcare Group (HHG), is advancing the acquisition, according to a report by Economy Today.

HHG is backed by global investment firm CVC Capital Partners and Abu Dhabi-based PureHealth.

Passenger traffic at Cyprus’ two international airports reached a new peak in June 2025, according to figures released on Monday by Hermes Airports.

Specifically, the company reported that a total of 1.4 million passengers travelled through Larnaca and Paphos airports during the month, compared with 1.3 million in June 2023.

This is despite the escalation of hostilities between Iran and Israel earlier in the year, which led to subdued booking activity across several European markets.

Cyprus is stepping up its air connectivity this summer, with Larnaca and Paphos airports offering an expanded network of destinations across Europe and the Middle East.

The move, driven by Hermes Airports in close partnership with airlines and tourism stakeholders, aims to enhance options for residents and support the island’s growing visitor flows.

Larnaca Airport sees the return of direct connections to major cities and sought-after holiday spots.

Property sales in Cyprus recorded an annual increase of 17 per cent in June, driven by a 44 per cent surge in Larnaca, while Nicosia posted the smallest gain at just 2 per cent, according to data released by the land registry.

A total of 1,544 sales documents were filed with land registry offices in June, up from 1,322 in the same month last year. In May, sales had climbed 30 per cent to 1,644 units.

Growth in Limassol slowed to 13 per cent in June, down from 18 per cent in May. Famagusta saw a similar trend, with sales rising 21 per cent compared to 54 per cent the previous month.

Cyprus recorded a 93 per cent employability rate for higher education graduates five years after completing their studies, according to the second cycle of the national graduate tracking mechanism (CYGraduates).

The findings, presented by Education Minister Athena Michaelidou, shed light on graduates’ transition into the labour market, their satisfaction with studies, and the mismatch between qualifications and employment.

The survey shows that 87 per cent of graduates find work within the first year after graduation, with many expressing high levels of satisfaction with their academic experience.

Finance Minister Makis Keravnos reaffirmed Cyprus’ support for adopting the digital euro this week, during an EU economic and financial affairs council meeting (Ecofin) in Brussels.

At the meeting, the Cypriot minister also stressed the need to safeguard financial sector resilience.

Keravnos backed the Danish presidency’s efforts to reach an agreement on the Digital Euro, describing it as essential for Europe’s digital transition and for strengthening the bloc’s autonomy and competitiveness.

The Cyprus association of care home owners on Wednesday expressed “strong dissatisfaction” over the way House labour committee discussed living conditions in private and state care homes for people with dissabilities.

The association, a member of the Cyprus Chamber of Commerce and Industry (Keve), stressed that its exclusion from the discussion was unacceptable, “especially given its role as the primary institutional representative of the private care sector”.

The association argued that its absence led to a “distorted representation” of the realities faced by private elderly care homes, as well as the ongoing efforts of professionals working in the sector.

Cyprus’ innovation ecosystem gathered momentum this week as ‘The Bash 2025’ brought together 185 participants for the country’s flagship startup and networking event.

Now in its fifth year, the gathering has cemented its role as a key platform for idea exchange, partnerships and collaboration.

The event attracted startups, investors, academic institutions, support service providers and public sector bodies in a setting designed to foster connections and showcase the dynamism of Cyprus’ growing innovation community.

The Electricity Market Association (EMA) on Wednesday expressed concern over two critical energy projects that directly affect Cyprus’ energy future.

These include the Vasilikos liquefied natural gas (LNG) terminal and the Cyprus-Greece electricity interconnection (GSI).

In a statement following a House Energy Committee session on Tuesday, the Electricity Market Association (EMA) issued a call to action.

Deputy Shipping Minister Marina Hadjimanolis,paid a working visit to London this week, aiming to strengthen bilateral ties with the United Kingdom.

The trip also sought to promote Cyprus’ bid for re-election to the council of the International Maritime Organisation (IMO) for 2026-2027 in November.

According to the announcement, the visit was marked by a bilateral meeting with UK Minister for Shipping Mike Kane.

Invest Cyprus chairman Evgenios Evgeniou addressed foreign investors at the 13th Invest Cyprus International Investment Awards in Nicosia on Wednesday, reaffirming the organisation’s commitment to working with the international investment community to build a more diversified and innovative Cyprus.

Speaking at the event, Evgeniou highlighted the growing confidence in Cyprus as an investment destination, pointing to President Nikos Christodoulides’ visit to the United States and the official visit of Indian Prime Minister Narendra Modi to the island as clear signs of this momentum. 

These, he noted, were not isolated events but part of Cyprus’ emergence as “a strategic investment partner, a gateway to the European Union and a European hub for the wider Middle East.”

Parliament on Thursday began debating legislation to screen foreign direct investments in strategic sectors, aligning Cyprus with EU rules designed to safeguard security and public order.

The bill, approved by the Council of Ministers earlier this month, implements Regulation (EU) 2019/452, which establishes a framework for monitoring foreign direct investments (FDIs) into the European Union on grounds of national security or public order. 

The draft legistlation gives the state the power to approve, impose conditions, block, or even reverse foreign investments deemed to pose risks.

President of the hoteliers association (Pasyxe) Thanos Michaelides on Friday said that Paphos has significant potential to boost visitor numbers.

In addition, he also said that the district can attract higher-income tourists who are likely to spend more during their stay, supporting the district’s wider tourism economy.

Speaking to the Cyprus News Agency (CNA), Michaelides underlined the need for a more targeted promotion campaign for Paphos aimed at attracting travellers with greater disposable income.