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First and third line beach properties and other matters
Antonis Loizou, FRICS
The Cyprus beach development-coastline is the only one which is reducing dear readers. If one is 50 or 100 mts away from the beach as long as it has a pedestrian access to it, will not matter so much. So as the beach line is being developed, so is the value of such beach properties/houses/ buildings are going up in value. This sort of situation will become even more evident for first beach line properties be it with a Governmental land between the on the first line properties and the beach, as opposed to those at the rear.
Hope for Big Real Estate Investment in Cyprus?
Antonis Loizou, FRICS
The new Minister of the Interior has announced last week that he is introducing an “one stop shop” which will deal with large scale real estate investments (over €5.0 mil.). This office/shop will be managed by a project manager, whose responsibility is to keep a close watch and follow up the procedures regarding planning applications and issue of permits.
Structural Conditions of Buildings in Cyprus
Antonis Loizou, FRICS
We have an increasing number of appointments, in order to carry out structural surveys of buildings, mainly houses under/recent construction and this is the result of shoddy work in a number of projects/buildings. Structural defects refers to the structure of the building, which, if it is left to escalate, it will cause more damage, than the initial damage, creating serious problems later on, including safety problems.
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.

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