Although it's too early to make any conclusions, there are indications that the Cyprus real estate sector may experience significant instability and uncertainty in 2020 according to a PwC report.
Cyprus' real estate sector is continuing to thrive, building on the upward trend of previous years, with experts confident that sales transactions for 2018 will peak at an eight-year high.
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.
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.
Ernst & Young Cyprus Ltd (EY) has published the second edition of its Real Estate Dynamics Report, which contains an analysis of recent developments in the Cyprus construction and property sectors.
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.
With the number of building permits issued in Cyprus continuing to fall in August, the island's construction sector remains firmly in the doldrums with no signs of a recovery in the foreseeable future.
Half the businesses in Cyprus are failing to repay their loans, with the construction sector being the worst offender as non-performing loans reached 72 percent in June according to the Central Bank.
Moody's Investor Services has warned about the dangers lurking in the Cyprus Banking system due to the high percentage of non-performing loans and considers the banking sector risk to be "Very High".
The Bank of Cyprus leadership believes there is evidence of improving stability in the Bank and generally in the banking sector and points out that it is fully committed to restoring the confidence of depositors and customers.
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.
Although the number of licenced projects increased by almost a third in October compared with October 2011 and their value increased marginally, the awaited recovery appears a long way off.
The reduction of investment in the island's construction sector continued in September increasing the uncertainty about its outlook as there are no prospects of a recovery in the foreseeable future.
The island's property sector may be more of a problem for the economy than initially thought as, during the boom years, banks lent considerable amounts of money to property development and housing.
The island's construction industry is suffering from the impact of the economic crisis and lack of liquidity as the number of building permits continue to fall with no signs of a recovery on the horizon.
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.
In its annual report on construction and housing, the Cyprus Statistical Service (CySTAT) says that the Island's construction sector continued to exhibit signs of recession for the second consecutive year during 2010.
