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Archive for 2012

Property market review and expectations for 2012

A fall in Cyprus’ GDP and rising unemployment means that the good days have gone. We are probably approaching the worst point, but things are unlikely to get back to where they were.

Licence for Polis golf project expected by June

The golf project at Limni in Polis Chrysochous by Limni Resorts & GolfCourses Plc. is expected to have a licence to start the project issued by June according to the local mayor, Angelos Georghiou.

Future prospects for the real estate market with Rotary

In conjunction with English and Greek speaking Cyprus Rotary Clubs, two presentations ‘A review of the Cyprus property market: Changes in demand & Future prospects’ will be given by Pavlos Loizou.

Bill to give more powers to Land Registry Directors

Land Registry Directors may soon be given powers to ease the issue of Title Deeds to individual owners of co-owned property in cases where one or more of the co-owners refuses to cooperate.

Land Registry & Town Planning to enter 21st century

Interior Minister Neoclis Sylikiotis has announced plans to introduce new IT systems into Town Planning and Land Registry offices throughout Cyprus to improve services offered to the public.

Standard & Poor’s downgrades Cyprus to junk status

Ratings agency Standard & Poor’s has cut the credit ratings of Cyprus by two notches to junk status as a result of the problems within the eurozone and the Cypriot financial institutions’ significant exposure to Greece.

Encouraging signs in domestic property sale figures

Although the overall picture for property sales in Cyprus last year was extremely disappointing, there are some positive signs in the figures for December, which show that domestic sales increased.

Ireland, Cyprus & Bulgaria slump in house prices index

The recently published Knight Frank Global House Price Index reveals that amongst EU nations Ireland is propping up the house price table while home owners in Cyprus and Spain are also suffering.

Limassol property market doesn’t depend on Russians

The number of real estate transactions for December 2011 was announced this week. Once again, they fell compared with the same month last year (-7%) and 2011 ‘ended’ with an 18% reduction in transaction volume compared with 2010.

Property sales in Cyprus plummet to lowest on record

The number of properties sold in Cyprus during 2011 fell to their lowest level since records began according to the figures published earlier today by the Department of Land and Surveys.

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