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All reports tagged with: "crash"

Cyprus property news recovers after attack

Cyprus Property news has fully recovered following what is thought to be a DOS or a dDDOS attack that flooded the CPN server with traffic, which eventually resulted in it crashing; no data was compromised.

Cyprus property sales hit new record low in 2013

Property sales in Cyprus fell for the sixth consecutive year in 2013 with sales down more than 80 percent compared with the peak year of 2007 and the lowest number since records began in 2000.

Property sales crash 44 per cent

The number of properties sold during the first ten months of the year has fallen sharply, down 44 per cent on the numbers sold during the same period last year with no prospects of a recovery in the foreseeable future.

Great Cyprus property crash continues in 2013

Property sales in Cyprus are on course to set an all-time record low in 2013 with sales in January down by more than 50 per cent on the corresponding month last year, posting the lowest monthly figure on record.

Popular bank may need government bailout

The Cyprus government may have to pump up to 2.5 billion Euros into the Popular Bank to cover its losses resulting from the write-down on its holdings of Greek Government bonds according to newspaper reports.

Banks should offload distressed properties

The banks need to offload billions of Euros of property left on their books by bankrupt developers and offer 100 percent mortgages spread over 40 years, similar to those being offered in Spain.

Disastrous decline in real estate market continues

The continuing crisis in the Cyprus real estate industry can only be described as disastrous as the latest figures released by the Land Registry reveal that property sales fell for the thirteenth consecutive month in July.

Crisis deepens as Cyprus property sales continue to tumble

The crisis in the Cyprus real estate industry continues to deepen with sales of property falling for the twelfth consecutive month and sales so far this year lower than those of 2008; the year the market crashed.

Stagnant construction & property sector

Cyprus is not Europe. In many European countries the situation is bleak as activity and prices have plunged to levels that leave little room for hope.

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

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