The local real estate sector has seen increased growth over the past year. Yiannis Misirlis, Chairman of the Cyprus Property Developers Association, shares his views on Cyprus’ real estate market and what needs to be done for it to remain competitive.
Among other, Misirlis suggests that demand for modern, high-spec workplaces is on the rise as Cyprus grows further as a regional business and investment hub.
How would you assess the current state of the local real estate market and what trends are shaping investor sentiment?
The Cyprus real estate market is showing remarkable resilience and steady growth, even amid global challenges. During the first nine months of 2025, property sales increased by 13%, reaching 13,173 compared to 11,635 in the same period last year. Notably, in September alone, 1,484 sale contracts were submitted – a 15% rise compared to 2024, highlighting the strong momentum and growing confidence in the market. As Cyprus further strengthens its position as a regional business and investment hub, demand for modern, high-spec workplaces is on the rise. Sustainability has also become a defining trend in the local property market. Projects that incorporate energy-efficient technologies and eco-friendly materials are increasingly sought after, as buyers and investors prioritise both environmental responsibility and long-term cost savings. At the same time, the popularity of gated communities is growing rapidly. These developments, which combine privacy and security with shared amenities such as fitness centres and swimming pools, offer a sense of exclusivity and community living. Overall, the market’s evolution reflects a shift towards quality, sustainability and lifestyle-oriented investment – trends that are setting the tone for the future of Cyprus’ real estate market.
What are the key policy changes or incentives that you believe are needed to sustain growth and ensure the sector’s competitiveness?
To sustain growth and competitiveness, Cyprus needs policies that promote efficiency, innovation and sustainability. Streamlining and accelerating licensing procedures would reduce delays in new developments, increase housing supply and enhance the country’s overall competitiveness. Incentives for green and energy-efficient developments are also essential. Encouraging sustainable construction through tax breaks or other benefits would help Cyprus meet its environmental goals while supporting economic growth. Finally, it’s important to look at the bigger picture. Modern developments require strong infrastructure, including efficient transport networks and quality community services. When all these elements work together, Cyprus will become an even more attractive place to live, work and invest. That’s how we can secure a vibrant and competitive property market for the years ahead.
How are Cypriot real estate developers adapting to global shifts toward sustainable design, smart cities and ESG-driven investment criteria?
Developers in Cyprus are increasingly aligning with international sustainability and ESG practices. Many new projects incorporate energy-efficient design, renewable energy systems and green building standards, responding both to regulatory developments and to the growing expectations of buyers and investors. At the same time, smart-home technologies and integrated digital infrastructure are becoming more common, contributing to the broader vision for smart cities. Developers are also placing greater emphasis on responsible construction methods and materials sourcing, as well as on the long-term operational performance of buildings. This marks a positive shift toward environmental responsibility, technological innovation and added long-term value. However, we must also acknowledge that, while the sector has made meaningful progress, there is still substantial ground to cover. Achieving real and widespread transformation requires a shared commitment: continuous effort from the industry itself and a supportive public policy that encourages sustainable and energy-efficient development. Only with coordinated action can Cyprus fully transition to a built environment that is modern, resilient and aligned with global expectations.
- This article first appeared in the November issue of GOLD magazine. Click here to view it
