Kyriacos Kiliaris, Author at Financial Mirror

Cash-rich banks stockpiling real estate

Cash-rich banks are stockpiling properties as they turn to buy real estate linked to mortgages of defaulted borrowers as banking institutions dominate the property market. After acquiring properties through debt to asset

9th February 2020

Cyprus/Property

Cyprus solution could generate €17 bln ‘peace dividend’

Cyprus reunification would bring about enormous economic advantages for both sides of the island’s divide generating a peace windfall of more than €17 bln while creating 100,000 new jobs in a post-settlement

8th February 2020

Cyprus/Economy

Turkish Cypriots prepare for vital leadership vote

Turkish Cypriot leader Mustafa Akinci may not make the run-off in April elections for the leadership of his community while the outcome could spell danger for the Cyprus peace process. Analysts argued

3rd February 2020

Cyprus

High private debt constrains cash-rich banks

With Cyprus banks holding record liquidity the system has come under fire from various stakeholders in the economy for keeping a tight lid on loans to new businesses and for mortgages. But some

2nd February 2020

Cyprus/Economy

Banks not helping young couples climb property ladder

Land developers argue that liquidity-rich Cyprus banks are making life difficult for young couples who want to buy a first home by denying them a loan. As developers are relying more on

29th January 2020

Cyprus/Life & Society/Property