Cyprus property sales rise as government seeks greater EU fiscal flexibility

Luxembourg, Luxembourg. Cyprus will press for greater fiscal flexibility and relief from high energy costs at this week’s Eurogroup and Ecofin meetings in Luxembourg. Meanwhile, property sale contracts in Cyprus reached 14,969 in the first nine months of 2026, with activity exceeding last year’s levels in every month so far.

Property contracts rise in September

A total of 1,681 sale contracts were lodged with land registry offices in September, up 13 per cent from 1,484 a year earlier, according to the latest Department of Lands and Surveys figures.

September’s total marked a rebound from the 1,241 contracts filed in August, although it remained below July’s figure of 2,040.

Contracts filed between January and September totalled 14,969, compared with 13,173 in the same period of 2025. This represented growth of 14 per cent, or an additional 1,796 contracts.

Monthly sales remained consistently above last year’s levels. They rose by 11 per cent in January, 12 per cent in February, 18 per cent in March, 15 per cent in April and 5 per cent in May.

Fiscal flexibility and energy costs on EU agenda

Finance Minister Makis Keravnos travels to Luxembourg on Wednesday ahead of the Eurogroup meeting on October 8 and Ecofin on October 9. He will also participate in discussions on banking competitiveness, capital markets and the wider European economy.

According to the Finance Ministry, the meetings will address “very serious issues” concerning the effectiveness of public finances under the European economic governance framework and the impact of the energy crisis on the European economy.

Referring to earlier statements by Keravnos, the ministry said Cyprus had already sought a derogation from excise duty on heating oil.

Cyprus has also joined other member states in supporting additional fiscal room within the EU’s economic governance framework.