News Archive: 2011

05, 2011 December:

Global housing markets struggling

The world's housing markets had a weak third quarter of 2011, according to the latest survey of worldwide house price indices prepared by the Global Property Guide. During the year to end Q3 2011, house prices fell in 25 countries (out of the 44 for which quarterly house price statistics are available) and rose in only 19.

10, 2011 November:

Draft law abolishes Cyprus' "Property Transfer Fees"

In an attempt to stimulate the Cypriot property market, the island’s MPs unanimously voted in the House of Representatives this week to abolish or reduce its official “Property Transfer Fees” for a period of six months.

07, 2011 November:

Cyprus property sales down 21 percent in October

The Cyprus property market shrank by 21 per cent in October compared with October 2010 and the number of sales recorded so far this year are down by more that 11 per cent on the number sold in 2009, the year the market collapsed.

31, 2011 October:

Standard & Poor’s downgrades Cyprus’ credit rating

Standard & Poor’s cut Cyprus’ long-term sovereign credit rating by a notch to ‘BBB’ from ‘BBB+’ yesterday, referring to the banking system’s exposure to the Greek sovereign debt.

24, 2011 October:

Property prices continue to fall in Cyprus

Cypriot property prices have fallen for the sixth consecutive quarter, according to reports from the Central Bank of Cyprus.

19, 2011 October:

Cyprus investment scheme investigated by BBC

Earlier this year a team from the BBC travelled to Cyprus to investigate a 500 million pound property ‘scam’ and why advice given to investors by Andrew Laird, chairman of ROPUK Network, may not add up.

17, 2011 October:

Cyprus sales continue to plummet

Property sales volumes continue to plummet in Cyprus, with no let-up in the downward spiral since July 2010. The number of homes being sold is now at a lower level than when the market crashed in 2009.

03, 2011 October:

Cyprus minister gives Oroklini theme park the green light

At last Monday’s meeting, Interior Minister Neoclis Sylikiotis give the green light to the proposed theme park in the Oroklini area, according to reports in the local media.

26, 2011 September:

Cyprus VAT reduction for first-time home buyers agreed

Following a series of proposals, counter proposals, discussions and debates, a compromise deal has been reached on the VAT reduction for first-time home buyers.

15, 2011 September:

Cyprus property sales slump slows

Although figures from the Land Registries across Cyprus reveal that the number of properties sold fell for the fourteenth consecutive month during August, the rate of the fall appears to be slowing.

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