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18th April 2024
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Yearly Archives: 2011

News

Cyprus government abolishes property transfer fees

Nigel Howarth -
In a measure to designed stimulate growth in the Island's property sector by reducing the cost of home ownership, Cypriot MPs unanimously agreed to abolish or reduce Property Transfer Fees at a meeting of the House of Representatives earlier today.
Articles

The Greek haircut and the Cyprus real estate market

Pavlos Loizou MRICS VRS -
With the share price of one of the banks in Cyprus having fallen to a 12 year low, the repercussions of the 50 percent haircut on Greek bonds and now the possibility of Greece defaulting are devastating - and the Cypriot real estate sector is part of the problem.
Articles

Another Eurozone country bites the dust

Wolf Richter -
What is unique about Cyprus' collapsing housing bubble is a title deed scandal of unimaginable proportions. But now this nightmare is unravelling the finances of home buyers, developers, banks, and the government.
Investment

Standard & Poor’s downgrades Cyprus’ credit rating

Alan Lawton -
Yesterday Standard & Poor's downgraded Cyprus' long-term credit rating to BBB due to the banks exposure to the Greek debt, which it estimates to be 165 percent of the Island's Gross Domestic Product.
Investment

Many properties will remain unsold

Nigel Howarth -
It is unlikely that the existing stock of new properties in the oversupplied markets of Paphos, Larnaca and the Famagusta/Paralimni area will be sold in the near future as they were built for "buy-to-flip" investors and are unsuitable for permanent living.
News

Government to support banks in financial crisis

Editorial -
The Council of Ministers has approved three draft bills designed to shore up the banks that are heavily exposed to Greek government bonds and to establish an independent financial stability fund.

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