The Housing Finance Corporation (HFC) has been granted the power to purchase performing loans and sell nonperforming loans, enabling it to actively manage its loan portfolio. With 44 percent of its total loans classified as nonperforming, this new law allows the HFC to tackle the challenge of NPLs and strengthen its financial foundation.
The Trikomo property market is experiencing soaring prices due to new luxury highrise developments, an influx of international buyers seeking refuge from regional conflicts, the “Famagusta, Trikomo, and Ayios Sergios Zoning Plan” regulating development, and historical complexities potentially reducing property supply. This surge in demand has led to apartments now selling for upwards of £200,000, marking a substantial rise from just a couple of years prior.
