Punishment of The Guilty Ones- New Beginning In The Cyprus Property Market

  Article By : Marinos Kineyirou|  Published at : Politis Newspaper| 07-04-2013

Marinos Kineyirou: President of the Cyprus Association of Estate Agent Entrepreneurs -President of the Real Estate Agent Entrepreneurs Association of Larnaca/ Famagusta and Property Auctioneer

Marinos Kineyirou Manager of Marinos Estate Agencies LTD

Marinos Kineyirou Manager of Marinos Kineyirou Estate Agencies LTD


Punishment Of The Guilty Ones- New Beginning In The Cyprus Property Market


After the last year’s mismanagement by the State and the financial sector, we reached an economic dead end and as a result, the present Government is forced to take painful measures to rescue the Cypriot economy. Those measures are unprecedented for both our country and all those of us who are anxiously watching the daily news and the international vilification of Cyprus. The developments have brought new data in all the businesses in Cyprus and abroad resulting in the freezing of investments in all sectors of the economy and certainly in real estates. The Cyprus Association of Estate Agent Entrepreneurs points out that the new data on the banking system of Cyprus brought new data in the real estate sector as well, which nobody expected.

The Signing Of The Memorandum Of Cyprus Changed The Investors’ Psychology Once Again
The change observed in the investors’ psychology after the elections for the new Government, seemed that will bring stability in the Cyprus Property market with sales growth as well as stability on the prices of real estates for sale in Cyprus. However, the new data with the signing of a Memorandum of Cyprus changed once more the psychology of investors who are holding “a wait-to-see the developments” attitude. The state has a large share of responsibility since the last few years did not take the appropriate measures to prevent the disaster ‘killing’ once again the Cyprus Property market. The Cyprus Association of Estate Agent Entrepreneurs stresses that the new data influenced enormously the psychology of buyers, both Cypriot and foreign investors.

The New Data οf The Cyprus Banking System Brought New Data In Real Estate Purchase
The appointment of a Commission of Inquiry to conduct research regarding the current situation of the banking system and the economy of the Republic of Cyprus is the first positive step for accountability to those who lead their country in today’s dire state. The mandate of the Committee regarding the economy is extensive and vast, addressing the issue of responsibility and accountability for the current situation of the banking system and the entire economy of the Republic of Cyprus, with special reference to the issues mainly from 2006 onwards where the major problems began to be observed.
Direct Accountability – Justice And Trust For The Economic Salvation Of Cyprus
The Cyprus Association of Estate Agent Entrepreneurs calls for the punishment of the real culprits of the economic disaster of Cyprus as well as the commitment of all the stolen money and their assets for immediate repayment of the Cypriot and foreign depositors who lost their money. The failure to punish the guilty ones will neither bring consolidation of institutions nor rescue the economy; instead it will bring adverse effects and even collapse of the entire Property market and Cyprus Developers. The people of Cyprus passed a new Government and for their sense of satisfaction, they ask for accountability, fairness and trust. The Government should consider seriously its responsibility towards Cypriots and make efforts for the salvation of the country. Firstly, it should penalize all those who led the country to the brink of disaster with their financial crimes. With the exemplary punishment of the guilty ones, the countdown to confidence in the Cypriot economy will begin, pulling her out from the ventilator and giving life to the future investments by Cypriot and foreign businessmen. Also it will pass the message around the world that once again, Cyprus will be one of the best destinations for investment not only for her economy but also for the Cyprus Property market.

Use our comprehensive online Cyprus property finder service to find properties to buy, to rent or to sell. Also, we provide property management services and the latest Cyprus real estate news in the news section of the website. Marinos Kineyirou real estate agents, specialize in the Cyprus property market with exclusive properties in the cities of Limassol, Nicosia, Pafos, Larnaca, Famagusta, Protaras and Ayia Napa.

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