All reports tagged with: "real estate market"
Cyprus is back in the top 10 of the November edition of the property portal TheMoveChannel.com’s Top of the Props chart, which records the most searched for overseas destinations to buy property.
In isolated cases, where the demand for residential real estate in Cyprus is low and distressed assets result in excess supply, further discounts of up to 40% of market value are possible.
Following the 20 per cent increase in sales in 2014, Cyprus property sales rose by 9 per cent in 2015 according to the latest official statistics published by the Department of Lands and Surveys.
Cyprus jumped twelve places to number 10 in November’s Top of the Props chart published by TheMoveChannel.com, which records the most searched for overseas destinations to buy property.
Although Leaf Research predicts that the downturn in the Cyprus real estate market is likely to continue, some positive prospects for the island’s economy and its real estate market are starting to appear.
Cyprus slipped four places in last month’s Top of the Props chart published by the TheMoveChannel.com which records the most searched for overseas destinations to buy property.
For many years the banking sector in Cyprus adopted poor risk and credit management practices, dominated by asset based lending, and an overexpansion of the real estate market.
The short answer to this interesting question is that property prices tend to be “sticky” on the way down as a lower sales price can often be dismissed as being uncharacteristic of the market.