Latest Headlines

Reports written by David Crowther

Cyprus home prices in the first quarter of 2008 up 3.3%

HOUSE prices in Cyprus, in the first quarter of 2008, appear resilient in the face of worsening global economic conditions. From January to March 2008, the BuySell Home Price Index recorded a total increase of 3.3% compared to December 2007, bringing the year-on-year increase to 18.6%. House prices depicted a 3.6% increase during the first […]

Gloomy Cyprus property figures and economic outlook

THE number of building permits issued for the construction of property in Cyprus continues to decline, reinforcing the IMFs gloomy economic outlook for the island. According to the Cyprus Statistical Service, CYSTAT, the number of permits authorised during January 2008 stood at 687 compared to 738 in January 2007. These building permits provide for the […]

Cyprus property price index reaches 173.6

FIGURES just released by CySTAT indicate that the price index of new properties in Cyprus has reached 173.6. Cyprus Statistical Service’s (CySTAT) quarterly index measures the changes in unit prices charged to clients for the construction of buildings. It includes the costs of materials used in the construction of property, labour, energy, transport, etc, as […]

Cyprus property scam reported on ITV

Many people will have read about the £3 million Cyprus property scam in Paphos involving J&I Estates, and their sole agent in Cyprus Peter Stephenson Properties. Ian Beaumont, the director, of J&I Estates was locked away for a £450,000 fraud in Kuwait. His “partner in crime”, Andrew Nolan of Peter Stephenson properties has twice been […]

Loan financing further reduced for Cyprus property buyers

THE Central Bank of Cyprus has stepped in once again to reduce loan financing for those buying property in Cyprus. In October last year the Bank reduced financing from 70% to 60%; but in spite of this move, housing loans continue to surge, reaching a record €8.26 billion in January this year. The new measures […]

Cyprus property output slows

ACCORDING to Eurostat data released on 12th March, construction output in Cyprus has slowed, boosting estimates that the island’s economy will grow slower in 2008. Specifically, construction output in the fourth quarter of 2007 grew by 3% compared to 9% in the third quarter of 2007, 7.5% in the second quarter of 2007 and 4.2% […]

Back to top