Property is still moving despite a slow down in the UK market place. Cyprus Resales Direct have more new clients from the Middle East, including Quatar, Lebanon and Beirut. Clients from the Middle East are looking to both buy and sell here in Cyprus. Cyprus is also proving very attractive to the Norweigen market as the Krona is strong against the Euro. Here at Cyprus Resales Direct we have buyers and sellers registered with our company.
We are very pleased to say that there is still market movement here at Cyprus Resales Direct.
Friday, June 27, 2008
Thursday, June 12, 2008
Are we in for a Property Boom??
What effect will the new marina have on property prices in and around Paphos??
Leptos heads up consortium for new marina
By Bejay Browne
A CONSORTIUM headed by the Leptos group has been awarded the contract to build the new Paphos marina.Commerce Minister Antonis Patsalides announced the winning consortium for the project in Potima in Paphos.
The Minister acknowledged the competition for the project had been stiff. Four consortiums vied for the prestigious contract, with the front-runners said to be those headed by Leptos and Aristo developers.
The Leptos group was founded in Paphos in 1961 and describes itself as, ‘the leading property developer.’ Numerous projects and developments in Paphos are Leptos builds.The winning consortium that it heads up is made up of Cybarco, JNP Avax, Francoudi and Stephano and Athena and KAT.
Work on the large-scale project is due to commence immediately, and must be completed within three years.The Marina will have mooring for 1,000 boats, slipways and a boatyard. There will be further leisure facilities, including, a restaurant, bar and parking. The cost of the project is expected to come in at over €70 million.The winning group will have to pay the government annual rent of €4 million for 19 years.Owners of surrounding land have seen it more than triple in value since the decision to build a new marina was taken.Copyright © Cyprus Mail 2008
Leptos heads up consortium for new marina
By Bejay Browne
A CONSORTIUM headed by the Leptos group has been awarded the contract to build the new Paphos marina.Commerce Minister Antonis Patsalides announced the winning consortium for the project in Potima in Paphos.
The Minister acknowledged the competition for the project had been stiff. Four consortiums vied for the prestigious contract, with the front-runners said to be those headed by Leptos and Aristo developers.
The Leptos group was founded in Paphos in 1961 and describes itself as, ‘the leading property developer.’ Numerous projects and developments in Paphos are Leptos builds.The winning consortium that it heads up is made up of Cybarco, JNP Avax, Francoudi and Stephano and Athena and KAT.
Work on the large-scale project is due to commence immediately, and must be completed within three years.The Marina will have mooring for 1,000 boats, slipways and a boatyard. There will be further leisure facilities, including, a restaurant, bar and parking. The cost of the project is expected to come in at over €70 million.The winning group will have to pay the government annual rent of €4 million for 19 years.Owners of surrounding land have seen it more than triple in value since the decision to build a new marina was taken.Copyright © Cyprus Mail 2008
Tuesday, June 10, 2008
Good News
The Central Bank of Cyprus is currently reviewing the mortgage lending rate for both new and resale properties. Having seen a marked downturn in the market due to the lending ration being 60% mortgage 40% deposit, the BOC are now allowing 70% lending against 30% deposit.
Confirmation of this is awaited in the next week.
Confirmation of this is awaited in the next week.
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