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Residential Rents on the up
Antonis Loizou, FRICS
The post 3/2013 disaster, has brought about a change of the rental scene of real estate. Between the period 2013-2015 very little number of buildings were developed causing nowadays some sort of shortage for most type of investments. This coupled with the beginning of a revival of the economy (2015) and the availability of finance, caused an increasing demand (be it very slow) for purchasers of real estate.
Freehold or Long Leasehold Home?
Antonis Loizou, FRICS
We are surprised by the response of an article we wrote in the Greek press regarding quality retirement homes with full facilities based on the American model. In our article we referred to that this type of housing units may take a period of 10-15 years to come about for locals in Cyprus, since the family ties are not what they used to be and parents/children may not have time for each other to the extent that they had before. However based on the local readers response it seems that our estimate of 10-15 years time, is far too late and it appears to be more of an immediate/2-5 years hence term. Families seem to be disintegrating from the extent that, we thought, especially now during the crisis.
We must help the financiers
Antonis Loizou, FRICS
It will be a mistake to consider that our banks/financiers are doing okay, especially bearing in mind the increased strict standards that are introduced from time to time by the E.C. Bank. We take this approach since we note now, that it is an election period, our MPs and political parties bid against each other who will offer the best reliefs to the debtors regardless.
Elongating the Tourist Season & Real Estate Demand
Antonis Loizou, FRICS
Elongating the tourist season is most important for the real estate market which goes hand in hand with the tourist industry in terms of Cyprus popularity and for rental/income purposes, making such investments more attractive. So, how do we go about it? First of all, the leadership is to be undertaken by the C.T.O. (a very good suggestion for a Deputy Ministry of Tourism) or others in private practice to make a comprehensive list of the happenings and their attraction (hard copy and website a must).
Russian Political Party - A dangerous move?
Antonis Loizou, FRICS
This is not a political article, but we lay down our own thoughts on the above subject and its possible side effects that this may have for Cyprus, its economy its effect on its short “success” story and the Cyprus real estate.
Mr Minister of the Economy
Antonis Loizou, FRICS
We had the opportunity to discuss with the I.M.F. consulting group which is examining the Cyprus economy and its recovery, the matter of real estate market. We have laid down our own thoughts on the subject, which, in summary is as follows:
Tourism in Danger?
Antonis Loizou, FRICS
It will never cease to amaze us the indifference of associations, professional bodies, Government and others, regarding crucial aspects of the building industry.
Real Estate Arbitration & Cyprus
Antonis Loizou, FRICS
This Government is trying to introduce new ideas and methods in its effort to catch up the 21st century from the existing legal system introduced 150 years ago. Thanks to the Bar Association and bearing in mind the years of delays that are experienced in the litigation proceedings, a new approach to solve minor disputes and including land law cases (property sales etc etc) arbitration is going to be introduced (waiting mind you for the last 5 years since the announcement).
Villa to let and legal obligations
Antonis Loizou, FRICS
We have reported in this paper that one of the best investment returns are the villas to let and Airbnb, especially for such popular localities such as the Famagusta region and to a lesser extent Pafos.
Changing Housing Habits
Antonis Loizou, FRICS
A young couple starts with the acquisition of an apartment 1-2 bedrooms, then depending on their financial ability move on to a larger apartment and then to a house. Other than those who have the financial support of their parents/ family, the circle of housing described is the above for the majority. This circle of housing, whereas it is ordinary in other countries, in Cyprus only the recent 15-20 years has appeared, since local attitudes did not find acceptable the change of homes.

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