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Archive for February, 2013

Property sales in 2012 reached €1.9 billion

Figures released by the Department of Lands and Surveys earlier this week report that property sales in Cyprus reached €1.9 billion in 2012, while more than 100,000 Title Deeds were issued.

PIMCO’s property price assumptions rejected

Assumptions made by PIMCO that property prices will decline by a further 30 to 40 per cent this year have been rejected by the Cyprus Association of Valuers and Property Consultants.

Property market will be hit by new Russian law

Cyprus’ beleaguered property market will shortly be dealt another blow when the Russian government passes a bill banning state officials and civil servants from owning overseas property, bank accounts or stocks and shares.

Bailiffs fail to seize ministers’ cars

Court bailiffs have been unsuccessful in their attempt to confiscate the cars of the Finance and Commerce ministers as they acted on court writs to seize government property to pay state debts.

Double-digit falls forecast for property prices

The fall in prices of residential real estate and land in Cyprus are forecast to reach double digits by the end of next year (2014) and they will continue to fall until 2015, but to a lesser extent.

One third fewer homes in 2012

The slowdown in the islands construction sector continued in December, according to figures released by the Cyprus Statistical Service, with new home construction falling a third in 2012.

Risk of Cyprus default “material and rising”

Cyprus faces a “material and rising risk” of defaulting on its sovereign debt, especially if the euro zone and International Monetary Fund do not come up with aid, rating agency Standard & Poor’s said on Wednesday.

PICAS meeting at Dhekelia Leisure Resort in Larnaca

The Property in Cyprus Action Support Group (PICAS) will hold an open forum for those facing difficulties when buying or selling property at the Dhekelia Leisure Resort in Larnaca on Wednesday 27 February.

Free tickets to ‘A Place in the Sun Live’ at Olympia

London’s Olympia will host ‘A Place in the Sun Live’, the official overseas property exhibition of the hit Channel 4 TV show that helps house-hunters find their dream property, on 12th – 14th April 2013.

Armou family still living in limbo

A family of four living at a stricken development in Cyprus that is slipping down Armou in Paphos remain in limbo, unsure of their future, after their homes were declared unfit for habitation in November last year.

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