Limassol has emerged as the strongest performer for high-end house rentals in Cyprus’ residential property market, while Nicosia recorded the lowest average rents, according to a report released on Wednesday by Landbank Analytics.

The analysis, based on listings collected from real estate platforms, provides a detailed breakdown of average asking rents for houses, highlighting significant regional variations and market dynamics.

The report revealed that average house rents in Limassol climbed to €5,099 in July 2025, further confirming its position as the most expensive district for high-end rentals.

Meanwhile, Paphos followed closely with an average rent of €4,338, reflecting strong demand for premium properties and confirming its status as a prime destination for luxury residential leases.

Cypriot businesses are bracing for potential fallout from a trade war between the United States and the European Union, as Brussels readies retaliatory tariffs in response to threats by US President Donald Trump.

The federation of employers and industrialists (Oev) warned members that American products could face additional EU duties and urged them to submit comments by Friday, July 25 at 11.00 am.

The feedback will help shape Cyprus’ submission to the European Commission. Oev noted that the views of Cypriot companies would be “decisive” in defining the Republic’s position during EU-level negotiations. 

Several EU countries are already pressing for carve-outs to shield sensitive exports from potential US retaliation.

The Bank of Cyprus (BoC) on Wednesday announced that it has issued 8,573 new shares to members of its general management under its short-term incentive plan, according to a formal information document published on the Cyprus Stock Exchange (CSE).

The new shares, with a nominal value of €0.10 each, were granted free of charge to three senior executives on May 28, 2025, marking the vesting of the second tranche of the incentive cycle for the year 2023.

The plan was approved by the bank’s board of directors on March 31, 2023, and ratified by shareholders at bank’s annual general meeting on May 26, 2023.

The bank explained that “it is part of a broader revised remuneration policy designed to reward executive directors and other eligible employees for achieving strategic, financial and operational goals that support the long-term sustainability of the group”.

Cypriot businessmen Costas Cleanthous and Charalambos Panayiotou, shareholders of fintech trading platform XM, have applied to the Central Bank of Cyprus (CBC) to acquire a majority stake in Ancoria Bank, according to Kathimerini.

Although both men are deeply involved in XM, the online trading company is not connected to the bank acquisition in any capacity.  

The move, filed on July 18, seeks to increase their combined stake in Ancoria from under 9.9 per cent to nearly 80 per cent.  

If approved, Cleanthous is expected to hold between 50 and 60 per cent of the bank, with Panayiotou taking around 20 per cent.  

Ancoria’s current majority shareholder, Sievert Larsson, would see his stake reduced to about 20 per cent.

The official launch of the Smart Cyprus project took place this week at the amphitheatre of Cyta’s headquarters in Nicosia.

According to an official announcement, the event marked the beginning of a major national initiative aimed at creating “a modern, green and sustainable model of development for Cyprus”, through the integration of smart city solutions across municipalities and communities.

Organised by the Deputy Ministry of Research, Innovation and Digital Policy in partnership with Cyta, the project is envisioned as a nationwide platform for smart city technologies.

These technologies, the announcement said, are designed to improve resource management, enhance public safety and deliver better citizen services through digital means.

The Cyprus Securities and Exchange Commission (CySEC) has issued a warning to investors regarding two online platforms that are not authorised to provide investment services or perform investment activities under Cypriot law.

According to the announcement, the websites greymax.net and finotivefunding.com are not associated with any entity that has received a licence to offer such services, as required under Article 5 of Law 87(I)/2017.

CySEC stated that these platforms do not belong to a regulated investment firm and therefore operate without supervision or oversight by the Commission.

Non-EU citizens in the European Union were more likely to work part-time in 2024 than EU nationals, underlining persistent disparities in employment patterns across citizenship groups, Eurostat data showed on Wednesday.

Non-EU citizens accounted for 22.2 per cent of part-time workers aged 20–64, while EU citizens living in another member state made up 20.8 per cent.

Nationals residing in their own country recorded a lower rate of 16.6 per cent.

Over the past decade, EU nationals have consistently posted the lowest part-time employment rates, while all three categories have seen their shares decline since 2014.