Property valuers in Cyprus are faced with a new reality that emerged after the 2013 financial crisis that hit the island’s banking sector, Royal Institute of Chartered Surveyors Cyprus (RICS Cyprus) has said.
Burdened with a high stock of non-performing loans and the increasingly strict supervisory requirements, the Cypriot commercial banks are not satisfied with the quality of valuations and demand more specific analysis such as sensitivity analysis and prices at a discount, while differences in methodology between bankers and valuers have surfaced.
“There are a lot of issues with NPLs and the quality of valuations (in Cyprus).
Source: CNA
Read more here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
