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Cyprus Real Estate Market Experiences Best Seven-Month Period Since 2008

by THEFUTURE.TEAM

August 5, 2024

The real estate market in Cyprus has recorded its most successful seven-month period since 2008, reflecting a robust recovery and growing investor confidence. The surge in property transactions is driven by both domestic and international demand, indicating a healthy economic rebound.

Key Factors Contributing to the Boom

Favourable Financing Conditions: Low interest rates and accessible mortgage options have made property investments more attractive.
Government Incentives: Various governmental policies and incentives have stimulated the market.
Stable Economic Environment: Cyprus’s stable economic conditions have reassured investors, leading to increased activity.

Domestic and International Demand

The demand for properties has risen significantly among both local and international buyers. This dual demand has been crucial in driving the market forward, contributing to a diverse and resilient real estate sector.

Positive Outlook for the Future

Analysts remain optimistic about the future of Cyprus’s real estate market. The combination of favourable economic conditions, supportive government policies, and increasing investor confidence is expected to sustain the market’s growth trajectory.

The Cypriot real estate market’s performance in the past seven months is a testament to the country’s economic resilience and attractiveness as an investment destination. As the market continues to grow, stakeholders are optimistic about the sustained positive trend, anticipating further growth and development.

Toyota’s Global Production Declines For 10th Consecutive Month, Yet Sales Show Growth

by THEFUTURE.TEAM

December 26, 2024

Despite a consistent drop in global production, Toyota Motor reported an uptick in worldwide sales for the second month in a row, driven by strong demand in the United States and China.

In November 2024, Toyota’s global output fell to 869,230 vehicles, a 6.2% decrease compared to the same month the previous year. This decline was steeper than the 0.8% drop observed in October.

The company’s production in the U.S. dropped by 11.8%, showing slow recovery. However, the production of models like the Grand Highlander and Lexus TX SUV resumed after a four-month hiatus in late October.

In China, Toyota’s production decreased by 1.6%, a smaller drop compared to the previous month’s 9% decline. The company benefited from higher local sales of models such as the Granvia and Sienna minivans, as well as the electric sedan bZ3, developed jointly with BYD.

As Chinese automakers like BYD gain ground, Toyota has decided to establish an independent plant in Shanghai and plans to start manufacturing electric vehicles for its Lexus luxury brand by 2027, according to a report from Nikkei.

Production in Japan, which accounts for about a third of Toyota’s global output, was down 9.3% in November. This was partly due to a two-day production halt at the company’s Fujimatsu and Yoshiwara plants.

Despite the production challenges, Toyota saw a 1.7% increase in global sales, reaching 920,569 vehicles in November, setting a new record for the month. However, for the period from January to November 2024, global production fell by 5.2% year-over-year, totalling around 8.75 million vehicles. During the same period, global sales declined by 1.2%.

These figures include Toyota’s Lexus brand but exclude sales from its group companies, Hino and Daihatsu.