Articles by David Crowther
Prices fall marginally in second quarter 2008
Property prices in Cyprus, hold on to their levels during the second quarter of the year, despite worsening global and local economic conditions. From April to June 2008, the BuySell Home Price Index recorded a marginal decrease of 0.4% compared […]
Published on: 17th July, 2008 | Popularity: 86% | Continued
Bank tightens credit risk rules
Later this month, it is anticipated that the Central Bank of Cyprus will issue ‘guidelines’ requiring the commercial banks to better manage credit risk. (In an earlier article, “The Property Bubble“, Dr Alan Waring reported that the executives of one […]
Published on: 10th July, 2008 | Popularity: 95% | Continued
Tax revenues plummet as property boom ends
THE Cyprus Inland Revenue Department has released details of total tax revenues collected during the first 5 months of 2008. Overall revenues stood at € 651.6 million, an increase of 1.1% on the €644.8 million collected during the same period […]
Published on: 17th June, 2008 | Popularity: 87% | Continued
Misleading property advertisements
MANY people have been duped into buying property in Cyprus through the use of misleading advertising.
Much of this makes outrageous and totally unsubstantiated claims regarding the performance of property investments. For example, marketing literature produced by one registered Estate Agent […]
Published on: 3rd June, 2008 | Popularity: 18% | Continued
Estate agent arrested for property fraud
AN estate agent has been arrested on suspicion of defrauding two property buyers out of approximately €290,000.
The estate agent, a 39 year old foreign woman from Paphos, was arrested last Tuesday when she arrived at Larnaca airport aboard an incoming […]
Published on: 31st May, 2008 | Popularity: 10% | Continued
Cyprus bank eases loan restrictions
THE Central Bank of Cyprus has eased the loan restrictions for the purchase or construction of second properties from 60% to 70%.
According to a local newspaper report, the Governor of the Central Bank, Athanasios Orphanides, informed the banks on Tuesday […]
Published on: 28th May, 2008 | Popularity: 5% | Continued
Property chief elected new head of Cyprus bank
THEODOROS Aristodemou, the founder, Managing Director and Chairman of Aristo Developers Plc Group of companies, has been elected the new Chairman of the Bank of Cyprus.
In a closely fought contest he beat his rival, the former Finance Minister Michalis Sarris, […]
Published on: 15th May, 2008 | Popularity: 4% | Continued