Cyprus Real Estate Sector Shows Resilience and Sets New Priorities Amid Global Uncertainty

At a time of intense international turbulence and widespread uncertainty, Cyprus has demonstrated that it can maintain stability and safeguard its growth prospects, according to Yannis Misirlis, chairman of the Cyprus Property Developers Association. He underlined that the country has shown notable resilience after enduring successive years of pressure, stressing that despite ongoing challenges, the real estate development sector continues to act as a key engine of the national economy. Misirlis said the association plays “an active and responsible role” in shaping a sustainable and competitive industry that serves society as a whole.

Referring to the association’s annual general assembly, which took place shortly before the turn of the year, Misirlis explained that the organisation used the occasion to redefine its objectives and strategic priorities, presenting a renewed vision for the future. The assembly was held in the presence of President Nikos Christodoulides and the Minister of Interior, a fact he said highlighted the importance of close institutional cooperation. “Cooperation and dialogue are basic conditions for achieving our common goals,” Misirlis said, adding that these principles will guide the association’s actions in the coming period.

Housing, he said, has emerged as “the most important social challenge facing Cypriot society” and will therefore stand at the centre of the association’s agenda in 2026. “There can be no real progress when young people have difficulty acquiring their own home,” he said, noting that an increasing number of families are finding that housing costs are limiting their choices and future prospects. Housing, Misirlis added, is “a key pillar of security and stability”, and addressing the issue demands strategic planning along with substantive cooperation between the public and private sectors.

Within this framework, the association supports initiatives undertaken by the Ministry of Interior aimed at strengthening affordable housing, speeding up licensing procedures and introducing targeted housing incentives. At the same time, Misirlis stressed that the housing issue must also be addressed at European level, particularly in light of Cyprus’ forthcoming Presidency of the European Union. With the housing crisis affecting many EU member states, he argued that Cyprus can “contribute substantially to the formulation of solutions”, provided that strong political will is present.

Another central objective for 2026, according to Misirlis, is the institutionalisation of the profession of land development entrepreneur, an initiative he described as emblematic of the type of industry the association seeks to build. The initiative, he explained, is primarily intended to protect buyers by ensuring that transactions are carried out “with security and trust”, while also clearly defining responsibilities, reducing grey areas and reinforcing transparency within the market.

Equally important, he said, is the strengthening of Cyprus’ international credibility. Investors will be assured that projects are delivered by licensed, certified and professionally competent entities. At the same time, the move will promote healthy competition and elevate the profession itself by providing it with an institutional framework, enhanced prestige and high operating standards. “This effort concerns the image of the country, its investment profile and the future of our economy,” Misirlis said, adding that through close cooperation with the Ministry of Interior and other relevant institutions, the final result will be “a modern and reliable institutional tool” that ushers in a new era of transparency and professionalism.

Sustainable development, Misirlis continued, is another strategic priority for the real estate development sector. “Our goal is to create greener, more functional and more humane cities,” he said, pointing to projects that respect the environment, improve aesthetics, strengthen the economy and enhance the daily lives of citizens. He noted that professionals in the sector have already taken significant steps in this direction, adopting green technologies, investing in renewable energy sources and deploying smart systems, artificial intelligence and other innovative solutions. “The green transition is already here,” he said, adding that the industry stands ready to contribute actively.

In this effort, Misirlis emphasised, the role of the state is crucial. Policies that encourage sustainable development and reward responsible practices can pave new paths toward a more sustainable future. Looking ahead, he said the sector’s future depends on clear vision, a sense of responsibility, bold decision-making and collective effort. Development, he explained, must promote progress and prosperity, improve quality of life and create stable prospects for the years ahead.

With a strong focus on affordable housing and sustainability, Misirlis said the association will continue working toward an industry that supports the development of modern, functional and human-centred cities. “Today we are laying the foundations for development with duration and substance,” he said, concluding that this approach responds to society’s needs while reinforcing Cyprus’ long-term outlook.

By fLEXI tEAM