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29th March 2024
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Property sector will act as a further drag

The island's property sector may be more of a problem for the economy than initially thought as, during the boom years, banks lent considerable amounts of money to property development and housing.

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.

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.

Construction sector in recession for second year

In its annual report on construction and housing, the Cyprus Statistical Service (CySTAT) says that the Island's construction sector continued to exhibit signs of recession for the second consecutive year during 2010.

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.

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.

Massive implications for property sector & economy

Yesterday’s revelation about the illegal activities could have massive implications for Cyprus’ property sector and the Island’s economy. The Cyprus government may have no option other than to take effective action immediately.

Government help for the property sector

With many property developers finding themselves in a difficult financial position, questions are asked about what the Cyprus government should be doing to help the Island’s property sector.

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