- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Property loan growth accelerates

LOAN growth in the domestic market accelerated in April, driven by property loans and loans to non financial organizations.

According to Central Bank data released today, the total value of loans stood at €44.52 billion, up from €32.89 billion in April 2007. The increase of €11.63 billion in loans is mainly linked to loans to non financial organizations (€6.90 billion) and property loans (€2.40 billion).

Property loans reached €8.73 billion in April, up from €6.33 billion in the corresponding month of 2007.