THURSDAY, 26 NOV 2020

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

Ursula von der Leyen: The First Europeans Could Be Vaccinated By The End Of The Year

Petrides: Our Goal Is A Cyprus Settlement And Not Sanctions Against Turkey

IMH LTD

OPINION

The Cyprus Holiday Houses Market

The Cyprus Holiday Houses Market

Cyprus second home real estate has been grappling with subdued demand and low consumer sentiment for more than 8 months now, because of the pandemic. Structural changes and policy reforms regarding The Cyprus Investment Programme (CIP), imbibed some confidence and Foreign Investors began to reconsider this asset class.

 

The recent discontinuance of this Programme is a blow to this market. However, consumer sentiments have been severely shattered not only due to the scrapping of the CIP, but also due to rising uncertainty on the overall economic growth. This is also visible in the stock markets indices, as fear of pandemic grapples the institutional and retail investors alike. In our opinion, consumer sentiments are likely to remain weak for the rest of the year 2020 and 2021, also. 

 

DANOS/An Alliance of BNP Paribas Real Estate, think there will be negative effects on the entire economy, especially the sectors dealing with foreign investment. The effects will mostly be felt in the real estate sector, the loan repayment ability of businesses, employment and entrepreneurship. Foreign investment contributed a lot to the economy and cannot be replaced, especially when it comes to the expensive second homes market, mainly (80%) directed to those interested in the CIP. 

 

MORE ON OPINION

FROM AROUND GOLDNEWS

   

Ursula von der Leyen: The First Europeans Could Be Vaccinated By The End Of The Year

European Commission President Ursula von der Leyen said Wednesday that the first European citizens might be vaccinated before the end of December. ...
   

Petrides: Our Goal Is A Cyprus Settlement And Not Sanctions Against Turkey

Cyprus Defence Minister, Charalambos Petrides, has said that what is sought is a settlement of the Cyprus problem on the basis of the agreed framework and the ...
   

Investigating State-level Corruption At The 3rd Cyprus Anti-Fraud Conference

Bank of Cyprus is presenting the digital “3rd Cyprus Anti-fraud Conference” on Tuesday, 15 December 2020. This year’s event will welcome a ...
   

Turnover Of Retail Trade Down In September And In First Nine Months Of 2020

The value and volume of retail trade except of motor vehicles declined in September 2020 and the first nine months of the year, according to provisional ...
   

HRVP Borrell: The European Union Also On Behalf Of Its Member States Stands By Cyprus

During his deuterology the High Representative noted the tension in some of the MEPs` positions and stressed that he understands the reasons, but clarified ...
   

Emirates Crowned Best Airline And Best Long-Haul Airline At Leading UK Travel Awards 2020

Emirates has been recognised as the Best Airline for 2020 at The Sun Travel Awards, and the Best Long-Haul Airline at The Times and The Sunday Times Travel ...
   

Celestyal Cruises Launches Early “Black Friday” Discount Offer And Special “Hero’s Discount”

With the ongoing Covid-19 global pandemic having put travel on pause for many this year –  including those heroes on the frontline of fighting ...
   

Europe On Way To Recovery, Say Leading Industrialists

The heads of Europe’s greatest industrial corporations have declared the bloc is on its approach to restoration, displaying a pointy rebound in ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Gold_November_300x250px
Enter_Cy_10/20-4/23

IMH LTD