Cypriot Nobel prize winner optimistic about Cyprus economy 15 February, 2012 The Cypriot economy has a lot of prospects to recover, especially after the findings of hydrocarbon reserves in the island’s Exclusive Economic Zone (EEZ), Cypriot Nobel Prize winner, Christopher Pissarides has said. Addressing Wednesday an event organised in his honor by the House of Representatives, Pissarides said that Cyprus has every reason to hope for the recovery of its economy, noting that the findings of natural gas... [read more]

Property values: Impossible to forecast medium-term trends 11 November, 2011 | Posted By: Financial Mirror GEORGE MOUSKIDES The economic crisis in Cyprus has significantly affected property values downwards over the last three years. What can we expect for prices from here? If someone wants to buy a home or acquire a property for investment when should he proceed? This is very difficult to answer right now as the factors affecting prices are many. These depend on: - The psychology of buyers and se... [read more]

Tourist arrivals from Russia to Cyprus increased by almost 50% in September, compared to the same period last year. According to data released Thursday by the Statistical Service of the Republic of Cyprus, overall tourist arrivals in September 2011 recorded an increase of 5,2%, compared to September 2010 figures. In particular, arrivals of tourists reached 304.260 in September 2011 compared to 289.126 in September 2010, according to the Passengers Survey. It is added that Russian tourists increased by 4... [read more]

The property market sounded the alarm for the eight consecutive month, since sales continue to drop compared to last year’s low level. Indeed, the sector has shrunk further, raising concerns to the market circles and the government. Sales declined in February while demand was more problematic in the seaside towns, unlike the big urban centres where things were less negative. According to new Land Registry data, the number of deeds of sale in February dropped to 602 against 704 in February 2010 and... [read more]

Moody's Investors Service has today downgraded the deposit and debt ratings of the following six Greek banks: National Bank of Greece SA (NBG), to Ba3 from Ba1; EFG Eurobank Ergasias SA (Eurobank), to Ba3 from Ba1; Alpha Bank AE (Alpha), to Ba3 from Ba1; Piraeus Bank SA (Piraeus), to Ba3 from Ba1; Agricultural Bank of Greece (ATE), to B1 from Ba2; and Attica Bank SA, to B1 from Ba2. The outlook on all these ratings is negative. Moody's re-assessed some banks' intrinsic financial strength (st... [read more]

Με αναπτύξεις αρκετών εκατομμυρίων ευρώ και πολλών χιλιάδων τετραγωνικών μέτρων προτίθεται η Hermes A... [read more]

China's Surprise Rate Hike: What It Means by Daniel Gross, Yahoo! Finance Tuesday, October 19, 2010 On Tuesday global stock markets got up on the wrong side of the bed thanks to news from an unexpected source: the People's Bank of China. The nation's central bank, analogous to the Federal Reserve in the U.S., announced it would raise rates on one-year loans and deposits by .25 percent, or 25 basis points. Why is the People's Bank of China raising interest rates? Central banks ... [read more]

  The third quarter was the worst period of the year in the property market, boosting forecasts that the crisis in the sector has not retreated yet. The exhaustion of the offers in the market and the uncertainty in the economic environment affect demand pushing sales down in the past few months. According to latest Land Registry figures, the deeds of sale in September stood at 687 against 554 in August and 757 in September 2009. The annual decline in sales in September stood at 9% against a decline ... [read more]

PGA to manage golf facilities, develop academy The MedGolf Group, a joint-venture partnership between Hassapis Land Developers, Demes Karapatakis' DJK Corporation and Sakyrco has secured the green light to develop the Larnaca Golf Resort and Country Club at an initial cost of EUR 60 mln. The Cypriot consortium has secured and acquired an area of 1.5 mln sq.m. in the Tersefanou area, next to Larnaca airport, where it will build and develop an 18-hole golf course, clubhouse, village square, purpose-bu... [read more]

Encouraging rebound in properties First Published:  03/03/2010 13:40:50 Activity in property sector shows signs of recovery, boosting expectations for better days to come. The new Land Registry figures show that sales in February recorded an increase compared to 2009, while activity recovered on a monthly basis too. According to the figures, the deeds of sale submitted in February 2010 stood at 704 from 570 in January and 558 in February 2009. Their annual ... [read more]