|
|
| Real Estate Cyprus, Property Cyprus, Buy Cyprus, Rent Cyprus, Share Cyprus |
|
|
 |
|
Property News
|
 |
|
|
|
12 Aug 2008
|
|
|
| Construction continues to weaken |
ACCORDING to figures just released by the Cyprus Statistical
Service, CYSTAT, output in the property construction sector continues
to weaken with the number of building permits issued during May 2008
standing at 732.
The total value of these permits reached €235.8 million and the
total area 293.2 thousand square metres; they provide for the
construction of 1,715 dwellings.
During the period January - May 2008, 3,520 building permits were
issued; a decrease of 15.1% co
... More
|
|
|
|
|
06 Aug 2008
|
|
|
| Cyprus developers ’strangled by red tape’ |
PAPHOS property developers are pleading with the government
to cut through the tangle of red tape that they say is suffocating
their business, causing delays in the issue of building permits and
title deeds, in some cases for years.
The president of the Paphos developers, George
Mais, was speaking yesterday following a meeting with Interior Minister
Neoclis Silikiotis in Nicosia on Monday.
“The main topic of the meeting covered the problems the building industry is fac
... More
|
|
|
|
|
28 Jul 2008
|
|
|
| Larnaca marina coming soon |
According to the Cyprus' Press and Information office, the construction of the Larnaca marina and port will be undertaken by the Zenon Consortium.
The development project is expected to start by the end of 2009,
with the marina being finished within two years; it will take between
six and seven years for the construction of the residential property
areas to be completed.
The Zenon Consortium is led by Louis Pcl (22%) and includes Iacovou
Brothers (17.5%), Petrolina (Hold
... More
|
|
|
|
|
10 Jul 2008
|
|
|
| Bank tightens credit risk rules |
Later this month, it is anticipated that the Central Bank of Cyprus
will issue ‘guidelines’ requiring the commercial banks to better manage
credit risk. (In a previous article of the Cyprus Property Magazine, “The Property Bubble“,
Dr Alan Waring reported that the executives of one bank had been
summoned to a ‘crisis meeting’ to discuss plans to deal with a possible
wave of loan defaults by property developers).
It has been reported that these ‘guidelines’ will place demand
... More
|
|
|
|
|
09 Jul 2008
|
|
|
| Parador Properties goes into voluntary administration |
Parador Properties, which had a number of overseas operations, including Cyprus, has gone into voluntary administration.
The company was once considered to be one of Europe’s top estate agents. It used to fly prospective purchasers to their desired destinations and offered advice about specific areas and communities. Simon Lambert and managing director Jack Hamilton founded Parador in 1998.
Parador’s PR company, Quay West Communications, announced: “It is with regret that Par
... More
|
|
|
|
|
|
More Articles |
|
|
|
|
|
|
|
|