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Reports written by David Crowther

Communal service charges

Is it correct that communal service charges are based on the on the size of the building/flat excluding gardens, open verandas etc?

Residential property construction slows

According to the latest figures from the Cyprus Statistical Service (CYSTAT) building permits for the construction of 1,191 residential properties were authorised in May 2009; down by more than 30% on the 1,715 authorised in May last year.

Building permits for residential properties down

According to the latest figures from the Cyprus Statistical Service (CYSTAT) building permits for the construction of 1,252 residential properties were authorised in April 2009; down by almost a quarter on the 1,658 authorised in April last year.

Cyprus bank loans, deposits and liquidity

Over the past year, Cyprus banks granted loans valued at more than more than three times the amount they received in deposits according to figures released by the Central Bank of Cyprus.

Cyprus banks still face liquidity problems

In May, the “liquidity level” in the Cyprus banking system (deposits minus loans) stood at just €1.8 billion against €1.99 billion in April and €8.5 billion a year ago.

Housing loans highest in euro area

According to the European Central Bank, Cypriot banks charge the highest interest rates for housing loans in the euro area. The gap between the average housing loan in Cyprus and that of other countries in the euro area is 239 base points.

Cyprus property sales continue to fall

According to the latest Cyprus Land Registry figures, the number of contracts for the sale of property fell by almost 55% in April this year compared to last.

Row erupts over Dolphin payout to Aristo

Dolphin Capital said it would pay €50 million in cash and the balance of €42.7 million through the issue of 133.1 million shares in Dolphin Capital to Aristodimou or his companies, based on an issue price of 30 pence a share.

Property tax revenues crash

The amount of Capital Gains Tax collected, the majority of which results from the sale of property, crashed to just €15.1 million from the €90.1 million collected during the same period last year; a drop of more than €75 million

Property businesses expect increased domestic demand

Those in the property business anticipate that improvements in market conditions may lead to an increase in domestic demand.

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