PwC (Cyprus) has published "Cyprus Real Estate Market – 2016 Year in Review", which provides a general overview of the Cyprus property sector based on authoritative market data.
The Hellenic Bank has sold its non-performing loan (NPL) and real estate management business, to APS Debt Servicing Cyprus Ltd, a member of the APS Holding a.s. group of companies.
The International Monetary Fund (IMF) has called on Cyprus to speed up reductions in public and private debt to rebuild confidence and deliver balanced, sustainable growth, and support balance sheet repair.
Following the second post-programme surveillance mission to Cyprus, the European Commission and the European Central Bank reports that NPLs remain "very high" and that "reform momentum has weakened noticeably."
The Bank of Cyprus has established a Real Estate Management Unit that aims to acquire real estate in a voluntary asset-to-debt swap of non performing delinquent borrowers that would otherwise follow the foreclosure process.
Chestertons reports that Cyprus has carved a niche for itself over the years and is receiving considerable interest from Middle Eastern investors who are looking to establish their second home overseas.
The Eurogroup has called on Cyprus to tackle the very high stock of arrears by facilitating the sale of loans and ensuring that title deeds are transferred to property buyers without delay.
The latest review of Cyprus' bailout programme has been successfully concluded, the EC, ECB and the IMF said in a press release yesterday, paving the way for Cyprus to take part in the ECB's quantitative easing programme.
In its Credit Outlook, which assesses credit implications of current events, Moody's Investors Service considers the implementation of the foreclosure law is credit positive for Cypriot banks.
Beverly Hills-based company Realty Group International (RGI) is seeking casino operators and investors to purchase land to build a 'super casino' in the Mediterranean island of Cyprus.
