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All reports tagged with: "financial crisis"

Limassol marina runs aground

Plans for the new Limassol marina have run aground according to the town’s mayor Andreas Christou. It seems that the project, which is expected to cost around €170 million, is having difficulty raising the necessary funding.

Stagnant construction & property sector

Cyprus is not Europe. In many European countries the situation is bleak as activity and prices have plunged to levels that leave little room for hope.

Review of global property trends in 2008

The collapse of the world’s housing markets in 2008 can be seen from three points of view, and unfortunately, all of them reinforce the bad news.

Sales of Cyprus property plummet

Developers and real estate agents are bracing themselves for one of their worst years in history following the news that Cyprus property sales are continuing to plummet

Property supply outstrips demand

20,000 properties remain unsold and a large number of others remain unfinished due to the dramatic decline in sales and worsening market conditions.

Sales of property in Cyprus nose-dive

The number of properties being sold in Cyprus has nose-dived in recent months following the latest phase of the global financial crisis.

Cyprus Housing Finance Corporation hit by global crisis

THE CYPRUS HOUSING Finance Corporation (HFC) has asked the Finance Minister to inform him on his plans to deal with the difficulties in the Cyprus banking system. The HFC is especially worried about what the government plans to do, especially since state funding towards banks was stopped and interest rates have increased due to the […]

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