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Banks highly exposed to construction sector – Cyprus Property News

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The Bank of Spain has also tightened mortgage lending conditions, which will help make the housing sector more stable. Moreover, foreclosures fell by more than one-third last year, indicating that Spanish homeowners are in an increasingly stable financial situation. It’s expected that Spanish property prices will rise by an additional 6.1% in 2018. While demand is forecasted to be highest in Madrid and along the coastline, every one of Spain’s autonomous regions will see the value of.

There is also a government-run savings bank called National Savings and Investments.. The other main class of consumer financial service organisation in the United Kingdom is the building society, but the building society sector is much smaller than it used to be as many major building societies demutualised in the 1980s and 1990s and there has also been ongoing consolidation via mergers.

Cyprus was lent 10 billion (US$11.9 billion). Included in the agreement was a haircut for bank deposits of more than 100,000 (US$119,300) at the countrys two largest banks-Bank of Cyprus, and Cyprus Popular Bank (Laiki Bank). The terms required Cyprus to cut public sector spending, hike taxes, and cut its bloated banking sector.

NOYANLAR GROUP. Noyanlar Group is a highly reputable construction and development company in North Cyprus. Since its establishment in 1973, Noyanlar Group has developed dozens of unique sites with properties of highest quality materials and standards.

The European construction sector observatory (ECSO) is an initiative under COSME. It regularly analyses and carries out comparative assessments on the construction sector in all 28 EU countries – aiming to keep European policymakers and stakeholders up to date on market conditions and policy developments.

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The construction sector looks set to see infrastructure projects worth 1.5 billion euros starting next year, offering a much-needed lease of life to the battered domain that is also focusing on important tenders set to be proclaimed or completed within 2018.