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25th April 2024
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Yearly Archives: 2012

Glimmer of hope for distressed borrowers?

A specialist property advisory company with significant experience in renegotiating property loans is now offering a service to distressed borrowers in Cyprus to renegotiate and reset their loan terms with the bank on their behalf.

VAT law protest by building industry workers

Following a warning in May that the construction industry would take "dynamic measures", workers staged a demonstration outside parliament last Thursday over the new VAT laws that threaten their survival.

EU bailout request by end of June

As Cyprus scrambles to announce a new package of austerity measures, some pundits predict that a request for a bailout from the EFSF may be imminent saying this could happen by the end of June.

Fraudulent property scheme of biblical proportions

British home buyers have filed a class action against the 'Turkish Republic of Northern Cyprus' and the HSBC claiming they are victims of a fraudulent property scheme of biblical proportions.

With value gone out the window, liquidity is the key

Although the Central Bank's Property Price Index shows a fall in residential property prices of 8.3 percent over the past two years, anecdotal evidence suggests that the decrease is at least double this figure.

Now the storm has broken

Even now with irrefutable evidence that property prices are falling at a quickening pace across the island, one senses a sanguine mood that something will soon interrupt the decline.

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