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Moody’s to review Cyprus rating for possible downgrade

Moody’s said the rating could be adjusted downwards prompted by a deterioration in fiscal metrics, competitiveness issues, and the banking sector’s exposure to macroeconomic stress in Greece.

Cyprus rating cut on banks’ Greece exposure

Rating agency Standard and Poor’s downgraded Cyprus’ sovereign credit rating by one notch and set the outlook as ‘negative’ as a result of increasing vulnerabilities in the Island’s banking system.

Moody’s: Cyprus property market remains a risk area

The Island’s once booming property market “remains a risk area with weak demand and unclear growth prospects” according to Moody’s, the international ratings agency.

Time to buy? House prices fall 20-30 percent

Although prices of property in some part of Cyprus have fallen by as much as 30 percent, the risk in the market has increased and calls for extreme caution by prospective buyers and their lawyers warns leading expert.

Moody’s cuts Cyprus’ two main bank ratings

Moody’s has downgraded the deposit and debt ratings of the Bank of Cyprus and the Marfin Popular Bank. According to their report “The country’s real estate market, which is a significant component of the banks’ loan books, remains a risk area with unclear growth prospects and weak demand”.

Further decline in property prices

The Central Bank of Cyprus anticipates that property prices will continue to fall in 2010 according its June economic bulletin and warns that the risks to the banks will be greater if the slump in property prices is higher than expected.

Storm clouds darkening over Cyprus

An economist report has highlighted a number of significant problems in the Cyprus property market and warns that prices have still to fall from their already depressed levels before they bottom out.

Portugal and Cyprus win as Brits return to market

Portugal, Turkey and Cyprus are among the main beneficiaries of the returning British interest in overseas property, according to the latest figures from portal Rightmove.

Developer swaps shares for property in Cyprus

Dolphin Capital Investors, the company that owns the Cyprus developer Aristo, is offering its shareholders a ‘shares for assets’ scheme according to a report in the Overseas Property Professional.

Low-end portal users return

The lower end of the British buyer market may be returning to overseas property, according to portal Primelocation.com with searches for property in Cyprus up by 55%.

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