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Britons face big losses as prices tumble

British overseas home owners are facing disastrous financial losses as tumbling prices in overseas real estate markets have wiped an estimated £24 billion off their investments, according to new research.

What a mess: Property valuations

While property values in the Cyprus tourist areas have fallen by 30%, foreign demand is still down 70%. Antonis Loizou FRICS considers the problem and wonders what will happen next.

No margin for further price reductions

The chairman of the Cyprus Land & Building Developers Association has said that there is no margin for making further cuts in property prices and that external demand may improve if Cyprus overcomes the problem with Title Deeds.

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