Although property prices in Cyprus continued to decline in all districts during the first quarter of 2015, there are indications that residential property prices in Paphos, Larnaca and Famagusta may be stabilising.
For a very long time Cyprus has suffered from 'sovereign corruption', but is the mould finally starting to crack as news of those once considered as demagogues are bought to justice.
The RICS Cyprus Property Price Index has recorded a steady decline in the prices of residential houses and apartments across the island since its introduction in the last quarter of 2009.
The number of building permits issued in February continued to fall compared with the corresponding month of last year according to the latest figures released by the Cyprus Statistical Service.
The decline in the island's construction sector continued in September with the number of building permits authorised during the month falling by 30 percent compared to the same period last year.
Figures released by the Cyprus Statistical Service (CySTAT) earlier today show that investments in the island's construction sector are continuing to decline as the economic downturn continues
Although the number of properties being sold in Cyprus continues to fall, sales in Paphos and Larnaca increased in November and the overall rate of decline is the lowest in recent months.
Construction activity in Cyprus saw the second highest decline in the European Union during the second quarter of 2012 after Greece according to figures published earlier today by Eurostat.
Cyprus construction activity continued to decline in May as building permit numbers fell once again compared with the same period last year, according to the latest figures from the Cyprus Statistical Service.
Latest figures from the Cyprus Statistical Service paint a very bleak picture of the construction sector which continues to decline as the Island's financial and banking crisis deepens.
Although the number of properties sold to Cypriot buyers improved for a second consecutive month in January, there is still no sign of a recovery in the Island's overseas property market where the number of sales continues to decline.
Investment in the Island's construction sector is continuing to decline according to figures published earlier today by the Cyprus Statistical Service, which reveal a 13.3 percent fall in the number of building permits issued over the first nine months of this year compared with last.
The continuing crisis in the Cyprus real estate industry can only be described as disastrous as the latest figures released by the Land Registry reveal that property sales fell for the thirteenth consecutive month in July.
