Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday 14th July 2020

David Crowther

Construction investment decline continues

Investment in the Island's construction sector is continuing to decline according to figures published earlier today by the Cyprus Statistical Service, which reveal a 13.3 percent fall in the number of building permits issued over the first nine months of this year compared with last.

Mari explosion slowed growth in construction sector

The explosion of confiscated munitions stored at the Mari naval base on July 11th that killed 13 people and devastated the Vasiliko power station has pushed the Cyprus economy into recession and slowed growth in the construction sector.

Residential property construction in meltdown

Cyprus Statistical Services figures published earlier today reveal that the number of residential properties for which building permits have been issued has dropped by more than 4,000 compared to last year.

More than one thousand new home owners

Now that the crippling power cuts have ended and work has returned to normal, more than one thousand properties were transferred to their new owners in September.

Construction investments continue downward trend

More bad news from the Cyprus Statistical Service emerged today as the number of building permits approved sank further in July as investments in the Island's real estate continued their downward trend.

Investments in construction at lowest level in years

Investments in the Cyprus construction sector remain at their lowest level in years, with no signs of a recovery on the horizon according to the latest figures from the Island's statistical service.

Construction activity showing no signs of recovery

The latest figures from the Cyprus Statistical Service offer no encouraging signs of an upturn in the Island's property and construction sectors as the number of building permits issued continues to fall.

Property title deed transfers fell in July

The number of properties in Cyprus transferred to their new owners fell during July, possibly as a result of the crippling power cuts that we all have to endure and the lack of office air-conditioning in the blistering summer heat.

Property transfers continue to improve

Latest figures to come out of the Department of Land and Surveys show that the number of properties being transferred at District Lands Offices across Cyprus is continuing to improve.

Building permits fell in April as construction slowed

Latest figures from the Statistical Service confirm that Cyprus' construction industry is continuing to struggle with the number of building permits issued in April falling 16.2 percent compared with April last year.

Slowdown in construction sector continues

Latest figures from the Statistical Service confirm that the slowdown in the Island's construction sector continues with the number of building permits issued in March falling by 23.4 percent compared with March last year.

Moody’s reviews Cyprus banks for possible downgrade

Moody's Investors Service placed three Cypriot banks on review for a possible downgrade on Friday, citing heightened risks to the banks from their exposure to Greek debt.

Residential property construction continues to slow

Following last month's disappointing sales figures published on Tuesday, the latest figures from the Statistical Service released earlier today offer no encouraging signs of an upturn in the Island's property and construction sectors.

Building permits up but residential construction slows

Although the number of building permits issued in Cyprus in January 2011 increased over the previous year, the number of permits issued for the construction of residential properties continues to fall.

Moody’s downgrades three Cyprus banks

Following in the wake of its decision last week to downgrade Cyprus government bond ratings, yesterday Moody's Investor Services announced that it had downgraded three Cyprus banks.

Building permits drop in December

Figures released today by the Cyprus Statistical Service show that the number of building permits issued for the construction of residential properties fell in November compared to the same month last year.

Building permit numbers fell in November

Figures released today by the Cyprus Statistical Service show that the number of building permits issued for the construction of residential properties fell in November compared to the same month last year.

Building permit numbers improve in October

Figures released today by the Cyprus Statistical Service show that the number of building permits issued for the construction of residential properties rose in October compared to the same month last year.

Construction slowdown continues in September

Figures released today by the Statistical Service show that the number of building permits issued for the construction of residential properties in Cyprus continued to fall in September.

Building permits continue fall in August

Figures released in the week by the Statistical Service show that the number of building permits issued for the construction of residential properties in Cyprus continued to fall in August.

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