Business · Cyprus

Cyprus experiences increase in housing loans as interest rates rise.

4 sourcesFirst reported 15 days agoUpdated 15 days ago

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New housing loans in Cyprus saw a notable increase in May 2026, reaching €145.5 million compared to €106 million in April.
The total of new loans for all purposes amounted to €361.9 million in May, surpassing the €331.3 million recorded in the previous month.
The average interest rate for new housing purchase loans rose to 4.06%, according to the Central Bank of Cyprus.
The spike in housing loans coincided with an overall increase in interest rates during this period.

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In May 2026, Cyprus experienced a notable increase in new housing loans, according to data from the Central Bank of Cyprus. The total amount of new housing loans reached €145.5 million, a rise from €106 million in April. This marked a significant upward trend in lending, contributing to an overall total of €361.9 million in net new loans for the month, up from €331.3 million the previous month.

The average interest rate for new housing purchase loans also saw an increase, settling at 4.06%. This rate change, alongside the surge in lending, suggests a shift in the housing finance landscape as borrowers respond to the evolving economic conditions. The data underscores a growing demand for housing loans amid rising interest rates, highlighting the dynamic nature of the Cyprus housing market.

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In this storyBanks & Finance Bank of Cyprus Central Bank of Cyprus

Cyprus experiences increase in housing loans as interest rates rise.

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