Do you know about photovoltaics? It’s a type of solar energy production that’s become increasingly popular in sunny countries.
They work by absorbing light from the sun and turning directly into electricity. They’re entirely sustainable and provide an alternative energy source to fossil fuels.
A map of Cyprus
Find homes in Cyprus via our property portal.
What’s new?
Thessaloniki in Greece, Cyprus’ Mediterranean neighbour, is to open an organic solar cell factory that has the technology to design and print large-scale photovoltaics.
This means that electricity (sourced by printed photovoltaics) could be sent to any country where there is frequent sunshine.
Yes, they’re printed! Greek manufacturer Organic Electronics Technologies (OET) is behind the new factory, which is due to start operations by the end of 2025. Then, the photovoltaics will be ready for use in buildings, greenhouses and electric cars. Read more about the planned factory.
What makes them so appealing in comparison with solar panels is that you can fit these new ones neatly within the walls of your home. No prices have been mentioned for them yet, but I expect that will come once the panels go into production.
Various examples of energy production
Will Cyprus follow in Greece’s footsteps?
Production of ‘new third-generation’ photovoltaics is already being mulled over in Cyprus by the forthcoming political candidates standing for elections here next week.
It seems possible that Cyprus too could either produce such photovoltaics in a similar way or can become a direct line to receive these cheaper electricity panels for domestic use here. The newly developed photovoltaic panels are a makeover of the existing ones, and they have more flexibility in where they can be located.
You can put them on windows and roofs of your home, cars, and you can even carry them on your bags or coats to take the sun’s rays and charge your mobile phone.
Homes in Limassol were the most popular in 2022.
Cypriot real estate valuation
The Cypriot governmental department of Lands and Surveys recently announced the real estate value based on comparative real estate sales of 2022 is around 6 billion euros.
The data also shows there were a total of 22,129 real estate transactions last year. Plus, the fourth quarter of 2022 was the most prosperous for the real estate sector because according to the data, 1.7 million euros’ worth of properties were sold.
Cyprus is proud of this achievement, as it has happened despite the current global cost of living crisis and Cyprus’s attraction for real estate purchases remains strong.
Unsurprisingly, the largest volume of sales took place in Limassol – there were 6,945 real estate purchases reflecting a total of 2.86 billion euros, followed by Nicosia.
Interestingly, Paphos city and the surrounding district (that includes Paphos villages) saw increased real estate sales. There were 3,593 real estate transactions and they were 890.4 million euros value.
This is encouraging news for all of you who are thinking of buying or building your own home here in Cyprus.
Cyprus is definitely keeping pace with new developments in the world and is now actively considering integrating them in the Cyprus community. It feels like 2023 is going to be a time for Cyprus to stop waiting behind. It’s and up-and-coming country that is trying to stake its place in global actions worldwide.
