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Archive for February, 2015

Problem housing loans below 10 percent

Based on the preliminary results from the Bank of Cyprus, problematic housing loans account for just 9.4% of its non-performing loans of €12.7 billion and only 10.2% of its NPLs in Cyprus.

Property price falls reduce

Although the price of residential properties in Cyprus continued to fall over the fourth quarter of 2014, the decrease was less than in previous quarters according to the island’s Central Bank.

Cyprus real estate dynamics report

Ernst & Young Cyprus Ltd (EY) has published the first edition of its Real Estate Dynamics Report, which contains an analysis of recent developments in the Cyprus construction and real estate sectors.

Troikans bump into elephant

During their recent visit to Cyprus, the delegation from the island’s troika of international lenders bumped into the elephant in the room; the unacceptable delay in issuing Title Deeds.

Investors eye Venus Rock

A number of investors are reported to have shown a keen interest in the Venus Rock project at the recent Cyprus Investors’ Summit, which was held recently at the Four Seasons Hotel in Limassol.

Guarantor’s proposals to troika

It is hoped that the troika of international lenders will approve the provisions in the fifth bill of the insolvency package so that it may go to the cabinet in early March for ratification and then to parliament.

Construction at record low

Construction activity in Cyprus during 2014 hit a record low with the number of building permits issued, their value and their total area all falling compared to 2013 according to the Cyprus Statistical Service.

January sales up

The number of properties sold in Cyprus during January increased compared to the number sold in January 2014 according to official statistics from the Department of Lands and Surveys.

Foreclosures hurdle must be overcome

The foreclosures hurdle must be overcome before the Cyprus adjustment programme can be brought back on track, said Eurogroup president Jeroen Dijsselbloem following a Eurogroup meeting on Monday.

Deal on foreclosures may be close

The Cyprus government plans to submit the last of the five bills comprising the insolvency framework to parliament within the next few days according to a source in the Finance Ministry.

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