With house prices falling in U.K. We are wondering how much of a downturn ,if any, there is in the Cyprus property market.
If I was buying here I would offer 20k Euros less than the asking price.
The ‘former soviet union’ economy is booming, so I hear.
It is a trait of Cypriot business that when trade falls off they raise prices to overcome the shortfall, rather than the UK practice of reducing prices to stimulate sales.
Property has gone up 20% just with the poor exchange rate! That’s without any increase in house values!
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Cyprus Mail article
A FEMALE lawyer has been sentenced to 30 days in Cyprus state prison, after being found guilty of traffic violations by Paphos court on Tuesday.
The lawyer was found guilty of three traffic offences, and has a string of traffic convictions in her past.
Jittery Paphos lawyers, shocked that one of their own could be sentenced to serve a prison term, were disbelieving of the outcome.
“I shouldn’t be speaking to the press,” said one lawyer, “please don’t print my name. I can’t believe she is going to prison. It’s ridiculous, she is a lawyer,” he said.
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The Cyprus Ministry of Commerce, Industry and Trade awarded the construction of the Paphos marina contract to the consortium made up of Cybarco, Francoudi & Stephanou, Leptos Group (via Pandora Investments PND.CY) and J&P Avax, J&P, Cads Holdings and Athena.
Under the terms of the agreement, the marina will be managed by the joint venture for a period of 90 years, with the annual lease reaching EUR 3.8mln (received by the State). The marina, which will be constructed at Kissonerga (Paphos district) is estimated to cost EUR 64mln (excluding other development projects nearby) and will be completed in 4 years.
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