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Monthly Archives: May 2014

Cyprus moving up property searches

Cyprus Kolossi Castle Limassol

CYPRUS moving up property searches moved up to number fourteen in the March 2014 edition of the ‘Top of the Props’ published by the property portal TheMoveChannel.com, accounting for 1.27% of on-line searches on the property portal.

The TheMoveChannel.com’s Accounts Director Naz Haghi commented: “Buyers are returning to the eurozone thanks to a combination of low prices and improving sentiment. Greece and Italy have both enjoyed a consistent increase in enquiries during the first three months of 2014, a sign that this is not a one-off spike in interest. Argentina surged back to 11th place in March, for example, driven by attractive new launches in the area. Italy and Greece, though, have seen no new products or marketing activity in the last three months. Instead, we have noticed a significant growth in natural traffic for Italian and Greek property, as buyers both inside and outside of the EU search for the countries in Google, attracted by low prices and Greece’s Golden Visa. “That improved sentiment have seen buyers toy with other old favourites, such as Bulgaria and Cyprus, but momentum remains with more traditional lifestyle destinations. With four out of the top five destinations on TheMoveChannel.com now made up of eurozone markets, confidence is certainly on the up.”

Once again Cyprus moving up property searches brings more evidence things could turn around very quickly for this beautiful island.

Contact us if you are thinking of buying property in Cyprus or just require some more information.

Standard and Poors lifts Cyprus Ratings

FITCH Ratings revised its outlook and Standard & Poor’s Ratings Services lifted its rating on Cyprus economy.

Standard and Poors lifts Cyprus Ratings both agencies cited the country’s progress under the reform program supported by the European Union and International Monetary Fund, as well as better-than-expected economic performance. Fitch revised its outlook on the country to stable from negative.

The ratings agency said Cyprus’ adherence to the EU-IMF program has helped lower both public and private-sector wages. With concurrent price decreases, this contrasts from earlier episodes of recession.

The agency also said the country exceeded fiscal targets by “a significant margin,” and that the economy “has proved more resilient than previously expected,” according the report. S&P said it raised its rating on Cyprus one notch to B from B-, which is still considered a so-called speculative rating within junk territory.

The ratings agency noted that Cyprus’ “resilient” tourism and business sectors, and the relative buoyancy of private-sector consumer spending helped the country achieve better-than-expected financial performance.

S&P did warn that an escalation of EU sanctions against Russia coupled with a decline in the rouble would hurt Cyprus’ tourism industry.

This could be a good time to start looking at Cyprus again. Remember it is a small island with a finite amount of land and properties, this news coupled with the gas exploration and recent findings could bring prosperity to Cyprus in the very near future, dont miss the boat act now and contact us to assist you and provide further information. No OBligation, No charges.

Wall Street Journal

Courtesy Cyprus Property News

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