Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

David Crowther

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.

Building permits slump

Uncertainty in the Cyprus construction industry continues with the awaited signing of the island's bailout agreement with international lenders and an indefinite strike by construction workers.

Construction sector remains quiet

Although the number of licenced projects increased by almost a third in October compared with October 2011 and their value increased marginally, the awaited recovery appears a long way off.

Construction sector investment retreats

The reduction of investment in the island's construction sector continued in September increasing the uncertainty about its outlook as there are no prospects of a recovery in the foreseeable future.

Cyprus construction activity may be improving

Although the number of building permits issued in Cyprus fell slightly compared to August last year, both their value and the number of residential properties for which permits were issued increased.

More junk from Standard & Poor’s

Standard & Poor's has pushed Cyprus credit rating further into junk territory reflecting their view that its creditworthiness has deteriorated since the ratings agency's downgrade on 2nd August.

Construction decline second highest in EU

Construction activity in Cyprus saw the second highest decline in the European Union during the second quarter of 2012 after Greece according to figures published earlier today by Eurostat.

Slump in construction activity continues

The Cyprus construction industry's slump continued in July with building permit numbers rising slightly compared to July last year, according to the latest figures from the Cyprus Statistical Service.

Construction sector continues to deteriorate

The island's construction industry is suffering from the impact of the economic crisis and lack of liquidity as the number of building permits continue to fall with no signs of a recovery on the horizon.

Continued decline in building permits

Cyprus construction activity continued to decline in May as building permit numbers fell once again compared with the same period last year, according to the latest figures from the Cyprus Statistical Service.

Cyprus construction sector decline continues

Latest figures from the Cyprus Statistical Service paint a very bleak picture of the construction sector which continues to decline as the Island's financial and banking crisis deepens.

Cyprus new homes down fifty percent

Home construction in Cyprus is showing no signs of a recovery with the number of new residential properties authorised in March falling by more than half those authorised in March 2011.

New home construction in February down a third

There are still no signs of a recovery in the Island's construction sector with the number of new residential properties authorised in February falling by a third compared with February 2011.

Forty percent fall in residential buildings

The number of new houses authorised in January fell by forty percent compared with January 2011 and the number of new residential properties being built is unlikely to increase until the number of unsold apartments and houses is reduced.

Cyprus construction output falls 17 percent

Construction output in Cyprus experienced one of the highest falls in the 27 EU member states during the third quarter of 2011 and prospects for improvements in the short-term are not favourable.

Slowdown in the Cyprus construction sector continues

Figures released by the Cyprus Statistical Service (CySTAT) earlier today reveal that the slowdown in the Island's construction sector is continuing and is showing no signs of a recovery in the near future.

Residential property construction plunges 41 percent

Investments in the Cyprus construction sector continued their downward spiral in November according to the Island's Statistical Service, which released the latest building permit figures earlier today.

Investments in Cyprus construction continue to fall

October saw a sharp fall in the number of building permits issued in Cyprus according to figures published earlier today by the Island's Statistical Service which show a drop of 19 percent compared with October 2010.

Property prices under pressure

According to figures released by the European Central Bank on Tuesday, property prices in Cyprus fell by 4.9 percent during the first half of 2011, almost twice the fall experienced in 2010.

Ten thousand six hundred this year and counting

More than ten thousand six hundred properties have been transferred to new owners this year by District Land Offices across the Island, according to the latest figures from the Department of Lands and Surveys.

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