The Cyprus property market is suffering from a misalignment between what is primarily available and what is being sought after by property seekers, a report from independent real estate asset management and advisory firm WiRE has shown.

The Cyprus government and the social partners (trade unions and industrialists and employers) held the first session of the Labour Advisory Body for the adoption of minimum wage by the end of 2021.

The number of registered unemployed saw a big annual drop of 65% in October from 31,487 in 2020, attributed mainly to a thriving hotel, tourism and hospitality sectors, the Statistical Service reported Wednesday.

New consumer loans, mortgages and new loans above €1 million increased in September compared to the previous month of this year, data released by the Cyprus Central Bank, on Wednesday show. Loan and deposit rates presented a mixed image.

The government’s policy priorities remain the same despite the adverse effects of the coronavirus pandemic, Minister of Finance Constantinos Petrides said at the 7th International Funds Summit on Monday.

The biggest challenges in the country’s road to digitisation are the lack of talent and professionals and mentality, Innovation and Digitisation deputy minister Kyriacos Kokkinos told MPs.

Cyprus has managed to fully vaccinate 66.2% of its population against Covid-19, Health Minister Michalis Hadjipantelas told parliament on Monday.

The junior shipping ministry plans to spend 17% more next year on digital transformation and scholarships for students who seek a maritime sector career.

Cyprus, among 100 countries, pledged to halt and reverse deforestation and land degradation by the end of the decade, underpinned by $19 billion in public and private funds to protect and restore forests.

Nicosia continues to drive the real estate market’s recovery, with total property sales in the capital for the first ten months exceeding those recorded in pre-coronavirus 2019.