Building permits issued in Cyprus from January to November declined by an annual 5.4%, but the total value rose 1.2%, reflecting increasing construction costs amid soaring inflation and supply chain disruptions. According to
Housing booms across many advanced economies are coming to a halt due to rising mortgage rates and weak economic growth prospects, according to Moody’s analysis. “Slowing home sales and a moderation of
Since 1980 we have been writing about issues concerning the construction industry, and in our approximately 1,500 English articles, we tackled the problems expressing our suggestions for their correction. In recent months,
Despite strong inflationary pressures crushing household incomes, the value of new mortgages taken out had reached its highest level since December 2014, when the Central Bank began recording data. Net new mortgage
Out-of-town students attending Limassol’s Cyprus Technological University (TEPAK) have difficulty finding accommodation as rents have doubled since last year, while increased demand has reduced options. Some 600 newcomers will be joining the
Some 15% of state revenue from the soon-to-be operational new casino resort will help build affordable government housing. The Cyprus Land Development Corporation’s 2022 budget will rise to €11.6 mln from about
The Central Bank of Cyprus has expressed its concern over the soaring price of building materials, sending the cost of construction to skyrocket to new highs and pushing property prices further up.
Two months ago, we published our difference of opinion regarding the Limassol Municipality to undertake an extensive housing development project in collaboration with the Housing Development Organization. This is a dream that
We heard the Limassol Mayor announcing the municipality’s initiative to construct over 600 housing units to alleviate the shortage of housing units, thus helping reduce the sales prices/rental levels. He stated the
Interior Minister Nicos Nouris thanked Poland for donating 80 housing units at a new Reception Centre for Applicants for International Protection, saying it puts EU solidarity into practice. Speaking at the centre’s opening ceremony,
