Antonis Loizou Frics, a representative of Antonis Loizou & Associates Ltd, expressed his concern about the absence of full information regarding sales and acquirement of real estate in Cyprus. He says that the Department of Lands & Surveys hides much data which should be available for the developers, citizens and investors. The publication of basic statistics was introduced a few years ago and, since then any attempts were made to expand that information. The Department gave the only data about the number of transactions per district and the origin of the buyers (local or foreign). Such a scarce statistics is insufficient and misleading for business in many respects.



To his opinion, more full and recent information could be introduced for the benefit of the economy and the development of industry. It would provide much exact marketing guidance for investors, developers and citizens. It is important, because misleading information leads to incorrect decisions in business.

Antonis Loizou Frics suggested to expand the data and include the following information into statistics: number of sales per district ( per town/parish), nature of property that was sold (shop, field, hotel, office,etc.), its value (as it is recorded and classed by local and foreign buyers). These numbers will allow to learn the level of demand and from where it comes. More detailed statistics will be a support for financiers to study finance applications based on actual demand, instead of speculative expectations or guesses of business people.

Recent signs of recovery of the market should not be missed, and the detailed analyses and information are very important for Property Consultants & Estate Agents. The real estate improvement in the area is still followed by the warning signs from the European Union and the recommendations should be taken into account while making important decisions and giving advice. More exact forecasts will benefit to the future stable development of the whole economy of the island.