Latest Headlines

Reports written by 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.

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