State of the union

State owned properties in Cyprus could be made available to buy in an attempt to raise around £180 million in order to pay off debts it owes to the Social Security Fund...

The Cyprus Government hold a number of properties that are considered surplus to requirements and its sale will generate much need income.

However, there are fears that additional properties on the market will simply add to the existing oversupply of homes in Cyprus, culminating in further property price falls and hinder the country's ailing building industry.

Source: www.homesoverseas.co.uk/news