Latest Headlines

All reports tagged with: "recession"

Greece exit from Eurozone would hit Cyprus hard

Experts agree that Greece leaving the Eurozone would hit Cyprus hard; the Island will be plunged into a deeper recession, the entire population will have to make sacrifices and we will end up in an EU bailout.

Alpha Bank Cyprus Ltd announces interest rate cut

An announcement by the Alpha Bank appeared in today’s press advising its clients of a reduction in the default interest rate from 7th May 2012 in acknowledgement of the recession.

Construction sector in recession for second year

In its annual report on construction and housing, the Cyprus Statistical Service (CySTAT) says that the Island’s construction sector continued to exhibit signs of recession for the second consecutive year during 2010.

Cyprus economy has yet to hit bottom say economists

A panel of economists from the University of Cyprus’ Economic Research Unit believe that the present state of the global economy and the uncertain future of the Euro area have dramatically increased the risks for the Cyprus economy.

What will it take to stop the rot in the property market?

This year has been a disaster for the Cyprus property market with the number of sales falling below those of 2009, the year the market crashed, and prices that are in a downward spiral with no sign of a recovery.

Market stagnant despite price cuts

The global recession, the Title Deed fiasco, greed, stricter bank lending criteria and high interest rates blamed for stagnant property market as plummeting house prices fail to ignite sales.

Property sales slip to lowest level since January 2009

The number of properties sold in April slipped to their lowest level since January 2009 threatening the fragile recovery in the Cypriot economy.

Cyprus must change or suffer

The leadership of Cyprus seems to be living in the past with no vision whatsoever about the future; it is time to turn the amazing potential that this country has into action.

Total sales continue to fall during November

The number of properties sold in Cyprus fell for the fifth consecutive month during November, sparking worries of the difficulties facing the market in 2011.

Fears for property crisis heighten

Exceptionally low numbers of properties are being sold in Cyprus compared to previous years heightening fears of a much longer crisis in the Island’s property industry than earlier anticipated.

Back to top