Nicosia, Cyprus. Speakers at Cyprus’ 20th Real Estate, Property Development & Construction Conference & Exhibition said the real estate sector is being reshaped by changing social needs, urban pressures and investor demand. They also warned that bureaucracy, infrastructure gaps and housing distortions continue to weigh on the market.
Sector role and market transformation
Opening the conference, Cyprus Property Developers Association president and Imperio Group president Yiannis Misirlis said the sector can no longer be viewed only as a barometer of economic activity but increasingly as a force shaping the way people live.
Misirlis said the market and construction sector now serve not only as indicators of economic activity, but also as tools of development, social policy and urban planning. He said Cyprus is changing and that the role of the sector is changing with it.
He said developers are being asked to create spaces that combine quality, functionality and social balance, while meeting the needs of families, workers and future generations. In that context, he said, the industry is no longer being called on simply to design buildings but to create integrated living environments.
Geopolitical climate and resilience
Misirlis said periods of geopolitical tension create caution in markets. Even so, he said the Cypriot economy, and particularly the real estate and construction sectors, have repeatedly shown they can withstand shocks and adapt to difficult conditions.
He said Cyprus remains a safe European destination with strong institutions and a reliable business environment, while the real estate development sector continues to rank among the country’s key pillars of economic activity and growth.
Conference milestone
IMH chief executive George Michael said the event’s 20th anniversary marked an important milestone for a forum that has brought together leading figures in the sector for dialogue and exchange.
What changes do you think would most effectively reduce bureaucracy and infrastructure gaps affecting Cyprus’ real estate market?