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Archive for May, 2014

Non-performing loans key to economic recovery

Non-performing loans might represent the single impediment to the recovery of not just the Cyprus banking sector but the island’s economy according to the CEO of the Bank of Cyprus.

Troika seeks to contain strategic defaults

In an effort to counter strategic defaulters the Troika is considering bringing forward the timeframe for the framework being developed concerning foreclosures and insolvency reports the Cyprus News Agency.

Can the overseas property market recover?

Although domestic sales of property in Cyprus improved in April compared to April 2013, overseas sales declined; what can be done to encourage overseas property sales and help the market recover?

Developers demand lifting of bank restrictions

The Land and Building Developers’ Association has demanded that banking restrictions are lifted and has directed its members to perform on their loans according to a report from the CNA.

Nigel Howarth meets the Troika

I spent nearly four hours with nine delegates from the troika last Sunday evening discussing the many problems faced by those who have bought property in Cyprus and their possible solutions.

Decline in building permits continues

The number of building permits issued in February continued to fall compared with the corresponding month of last year according to the latest figures released by the Cyprus Statistical Service.

Does the Troika have the guts to push with NPLs

Does the troika delegation have the intestinal fortitude to deal with the non-performing loans issue while it’s undertaking its fourth review of the Cyprus economic adjustment programme?

Troika hears construction sector concerns

The troika has returned to Cyprus for its fourth review of the island’s economic adjustment programme and has spoken with the Federation of Building Contractors about the critical issues affecting the construction sector.

Property sales up for second consecutive month

Property sales in Cyprus improved for the second consecutive month in April with the total number of contracts of sale deposited at Land Registry offices up 9 percent compared to April 2013.

Armou family defy house ban order

A British family are the only permanent inhabitants living at the stricken development at Armou in defiance of an order banning them after their homes were declared unfit for habitation in November 2012.

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