Banks complicated lending procedures cause stagnation of property purchases by Cypriots

Chairman of the Cyprus Real Estate Agents Association (SKEK) Marinos Kinegirou has said that the complicated lending procedures followed by the banks are a reason that leads to the stagnation of purchases of real estate by Cypriots.In contrast, Kinegirou said that the real estate market improves every year, when it comes to foreign buyers, as a result of the incentives introduced by the Government.

Source: Cyprus News Agency