Cyprus Business Now: banks, property, Oev, IT sector, inflation
In total, 1,537 properties changed hands during the month, compared with 1,371 in February 2025.
This follows an annual increase of 11 per cent in January, after a stronger rise of 24 per cent recorded in December 2025.
Within this, Limassol recorded the strongest annual growth, with sales accelerating sharply to 24 per cent, reaching 482 transactions from 389 a year earlier.
The district also remained the market with the highest number of sales nationwide.
Speaking during a briefing at the presidential palace, Letymbiotis explained that preliminary evaluations have already been carried out by the government.
“It is an issue that concerns the entire region, I think the whole world and the European Union,” said Letymbiotis.
“At the level of the Republic of Cyprus, initial estimates have obviously been made,” he added.
He mentioned that there was an initial briefing and exchange of views today by Finance Minister Makis Keravnos during a cabinet meeting.
“However, the determining parameter, the decisive factor that will define the outcome is how long this regional crisis will last,” the spokesman stated.
He explained that the government and the finance ministry’s economic team are continuously evaluating developments, while highlighting the importance of responsible fiscal management during periods of uncertainty.
“All assessments are being carried out on our side,” said Letymbiotis.
The summit emphasised the strengthening of bilateral relations between India and Cyprus, the positioning of Cyprus as a regional services hub, and the bank’s role in supporting economic connectivity between Europe and India.
Eurobank said its participation reflected its position as a key financial enabler of India-Greece-Cyprus cooperation, highlighting its growing involvement in one of the world’s fastest-growing major economies.
The bank reported that over the past two years the Eurobank Group has become one of the most active European banking organisations operating in connection with India, drawing on its strong capital base, expertise across banking, investment and insurance services, and its broad European footprint.
Nicolaou told the media this week that the bank’s strongest defence in an uncertain environment remains its low cost of risk, supported by strong capital and liquidity buffers.
During the briefing, Nicolaou said the bank is “one of the best capitalised banks in Europe,” with a Common Equity Tier 1 (CET1) ratio of 21 per cent, adding that the institution is now in “the strongest position it has ever been.”
He explained that this position reflects the bank’s conservative strategy, which will continue in the coming years.
In a written statement, Pantelidis said the government has assured that Cyprus does not participate and will not be involved in military operations in the region.
He noted that the island’s proximity to the area of operations, combined with the recent drone incident at the RAF Akrotiri base, led to the immediate mobilisation of state mechanisms and the strengthening of defensive measures with the assistance of allied countries, primarily Greece.
Pantelidis described public concern as understandable, stressing the importance of timely and reliable information to prevent unnecessary panic.
The post described Oev as the largest and truly independent employers’ organisation in the country, a statement that has unsettled parts of the business community.
According to a report in Politis, Keve president Stavros Stavrou responded in a lengthy internal letter dated February 26, addressed to collaborators and members, many of whom are also Oev members.
Stavrou said members had been calling him to ask what Antoniou meant by truly independent and whether it implied Keve lacked independence.
According to first estimates from the statistical office of the European Union, industrial producer prices increased by 0.7 per cent in the euro area and by 0.8 per cent in the EU in January 2026 compared with December 2025.
This followed a monthly fall of 0.3 per cent in the euro area and 0.4 per cent in the EU in December 2025.
On an annual basis, compared with January 2025, industrial producer prices decreased by 2.1 per cent in the euro area and by 1.9 per cent in the EU.
Because of its size, Cyprus is treated as a single region in the dataset examining the share of electric passenger cars by region in 2024.
The figures show that Cyprus remains far behind the leading northern European regions, where the adoption of electric vehicles is significantly higher.
Across the European Union, the highest shares of electric passenger cars were again recorded in northern regions, continuing a trend seen in previous years.
Speaking at the Teachers for STEM conference organised by the Cyprus Computer Society (CCS), George Malekkos, president of Cyprus IT Enterprises Association (CITEA), said the issue extends beyond the school curriculum and directly concerns the competitiveness of the Cypriot economy.
Malekkos said Cyprus also continues to lag behind the rest of Europe in the participation of women in STEM professions, warning that the country cannot afford to overlook a large share of its potential workforce.
“We cannot talk about innovation when we leave out half of the country’s talent,” he said.
According to Cystat, the consumer price index in February 2026 decreased by 0.12 points, reaching 99.86 units compared with 99.98 units in January 2026.
At the same time, inflation in February 2026 increased at a rate of 0.1 per cent on a year-on-year basis, reflecting modest price pressures across the economy.
Among the economic categories, the largest positive change compared with February 2025 was recorded in agricultural products, which increased by 4.2 per cent.