In the near future, the Cyprus property market is expected to continue on its dynamic path, however, it will not be a bed of roses, and strategic planning will be crucial to navigate changes and challenges ahead. In the next couple of years, we should expect to experience moderate growth as high interest rates stabilise … Read more
French politicians need to listen to bond markets – and keep them on side – or face a potentially catastrophic ‘Liz Truss scenario’, the CEO of a leading independent financial advisory and fintech has warned. The stark warning from Nigel Green of deVere Group comes as the political chaos in France is driving the gap between French … Read more
British house prices rose in May after falling in the previous two months as the property market withstood high borrowing costs, according to figures from mortgage lender Nationwide.Prices increased by 0.4 per cent from April, the data showed. Economists polled by Reuters had mostly expected a 0.1 per cent monthly rise. Compared with May last … Read more
Property prices in Cyprus increased by 6.3% for apartments, 2.1% for houses, 3.0% for offices, 0.4% for retail, 3.6% for holiday apartments, 1.0% for holiday houses, and remained stable for warehouses in Q1 2024 according to the Ask Wire Index.
Property values in Cyprus increased during the first quarter of 2024 compared to the same period in the previous year, with apartments seeing a rise of 6.3% and houses experiencing a more modest increase of 2.1%. Limassol emerged as the district with the highest percentage increase in prices for both apartments and houses. Rental values for apartments surged by 9.3%, while houses saw a 6.4% increase. Warehouse prices remained unchanged over the year.
The CEO of a financial advisory firm believes that the Bank of England should start cutting interest rates this summer despite UK inflation data showing mixed signals.
Fact: Prices of homes being put up for sale in Britain have hit record highs, with the average asking price for residential properties reaching 375,131 pounds (4,578.23) in the four weeks to mid-May.
Keir Starmer, the leader of Britain’s opposition Labour party, outlined six priorities for his party if they win the upcoming national election.
In March, consumer loan rates increased while mortgage rates decreased in Cyprus. Deposit rates for households also rose, with new lending decreasing by €79 million compared to the previous month. The interest rate for fixed-term deposits for households increased to 2.24%, while the interest rate for non-financial corporations decreased to the same percentage. Total new loans in March amounted to €496.4 million, with new consumer loans decreasing to €22.2 million and new housing loans decreasing to €119.6 million. New loans to non-financial corporations for amounts up to €1 million increased, while loans for amounts above €1 million decreased. These statistics were published in the April 2024 edition of ‘Monetary and Financial Statistics’ by the Central Bank of Cyprus.