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All reports tagged with: "property sector"

Housing market in Cyprus

An insight into the island’s property sector and housing market are contained in ‘The Economic Adjustment Programme for Cyprus’, recently published by the European Commission.

Developers are the problem says bank chairman

The Bank of Cyprus is on a frontal attack with the big property developers, as its separation into a commercial and real estate bank aims to secure billions that were injected to the real estate sector.

Sales in 2012 plummet to record low

The number of properties sold in Cyprus fell to a record low in 2012 with local pundits predicting that this year will be worse than last, while the Financial Mirror concludes that 2013 will be another “Annus Horribilis”.

Kill the chicken, eat the eggs, pretend it didn’t happen

Little has been done to resolve the problems that precipitated the crisis in the property sector; many are resisting the need for change and seem intent on making the same mistakes again as if the crisis never happened.

Property sector will act as a further drag

The island’s property sector may be more of a problem for the economy than initially thought as, during the boom years, banks lent considerable amounts of money to property development and housing.

Be honest and get on with it

What can Cyprus learn from Ireland’s bailout experience? “To get on with it, to be resolute and to be honest about the scale of the crisis” according to the Irish Minister of State for European Affairs.

Property sales in Cyprus tumble after a promising start

The number of properties sold in Cyprus during February fell 26 percent compared with the number sold in February 2011, after having risen in January for the first time in nineteen months.

Double selling fraud: the O’Dwyer judgement

Cyprus cannot afford to delay any recovery of its property sector and the many scandals require urgent, radical treatment – not a sticking plaster, an aspirin and a hope that the patient will simply recover naturally.

Government help for the property sector

With many property developers finding themselves in a difficult financial position, questions are asked about what the Cyprus government should be doing to help the Island’s property sector.

We have not learnt our lesson

George Mouskides, airs his views on some of the issues besetting the Cyprus property market and issues a call to action by the state to deal with these issues before matters get out of hand.

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