Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 6th August 2020
Home Articles Housing loans surge

Housing loans surge

According to the Central Bank Monetary Review, credit growth in January 2008 stood at 33.48%, higher than February 2007.

The total value of loans granted in the first month of the year stood at €42.19 billion from €31.6 billion in January 2007.

This increase of €10.58 billion stems from loans to non-financial organizations and the housing loans.

The loans to non-financial organizations climbed 43.5% to €19.87 billion from €13.85 billion in January 2007.

The housing loans surged 37.6% to €8.26 billion from €6 billion in January 2007, while consumer loans rose 9% to €6.59 billion from €6.04 billion.

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