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Cyprus construction NPLs highest in Europe

The percentage of non-performing loans (NPLs) linked to the Cyprus construction industry are the highest in Europe according to a press release issued by the European Banking Authority.
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Sea caves destruction blocked

The Cyprus Minister of Agriculture has blocked the building permit for the construction of a five-star hotel, residences and villas with swimming pools located next to the sea caves area in Pegeia by Korantina Homes Ltd.
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Peyia sea caves media reports

The desecration of the sea caves area of Pegeia in Paphos on the west coast of Cyprus by the construction of so-called luxury properties, villas and a 168 room five-star hotel has been the subject of a number of media reports over the past week.
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Anger over sea caves development

A development of six 'luxury' properties in the sea caves area of Peyia in Paphos has enraged many people in the area as the destruction of Cyprus' environment and natural beauty continues.
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Construction of new homes slows

Following ten months of double digit increases in the number of building permits authorised for the construction of new homes, August saw an increase of 6.6 per cent compared to August 2016.
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Construction helps Cyprus exit recession

Laying the cornerstone of '360', the tallest construction in Nicosia, President Anastasiades said that the construction boom confirms the government's focus on exiting the vicious cycle of economic recession.
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Surge in new homes construction

July saw another surge in the building of new homes with a 40.6 per cent increase in the number of building permits issued for their construction compared to the same period in 2016.
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New homes construction surges

The number of new homes in Cyprus for which building permits have been issued surged by 52.5 per cent in May 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.
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More new homes under construction

The number of new homes in Cyprus for which building permits have been issued rose by 22.8 per cent in February 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.
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Chinese investors boost construction sector

Purchases by Chinese investors in Cyprus property have contributed to the recovery of the island's construction sector according to the president of Cyprus Association of Valuers and Property Consultants.
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Sharp rise in new homes construction

The number of new homes in Cyprus for which building permits have been issued rose by 56.8 per cent in January 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.
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Construction and housing statistics 2014

The Statistical Service of Cyprus (CYSTAT) has published the annual report "Construction and Housing Statistics, 2014", which contains detailed data on the performance of the industry during 2014.
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Banks highly exposed to construction sector

The Cyprus Central Bank reports that banks are highly exposed to the construction sector in its "Household and Non-Financial Corporations Indebtedness Report" published earlier this week.
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Ayia Napa marina construction starting soon

The construction of the marina at Ayia Napa, which is expected to cost around €220 million, is anticipated to start in early April according to an announcement by the mayor Yiannis Karousos.
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Construction activity worst in Europe

Construction activity in Cyprus suffered the biggest decline in production year-on-year in Europe during the first quarter of 2015 according to statistics published in yesterday's Eurostat newsrelease.
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Cyprus home construction weakens

The previous strong growth in new home construction in Cyprus was reversed in April with the number building permits authorised by the authorities for new homes falling compared to last year.
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Cyprus home construction up again

Strong growth in the Cyprus construction sector was recorded for the second consecutive month in March with the number building permits authorised for new homes increasing compared to last year.
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Strong growth in home construction

Strong growth was recorded in the number new homes being built in Cyprus in February, with the number of building permits authorised for new homes increasing compared to February 2014.
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Construction sector collapse

The construction sector in Cyprus recorded the biggest drop in production year-on-year in the European Union member states according to a report published by Eurostat this morning.
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New home construction increases

The number of new homes being built in Cyprus improved in January, the Cyprus Statistical Service reported yesterday, with the number of permits authorised for new homes increasing compared to January 2014.
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