The substantial rise in real estate prices that has been observed during the last few years in Cyprus, combined with the expected slowdown of the global economy, convinced Hellenic Bank to commission a study titled “Cyprus Economy and the Real Estate Market: Analysis of the 2002-2007 period and prospects for 2008-2012”. The study was performed by the independent economic research firm MAP S.Platis.

Hellenic Bank will utilize the study’s findings in order to formulate its future credit policy and to structure its loan portfolio – especially with respect to real estate loans.

An important contributor to the study was the firm of real estate specialists A. Loizou & Associates. For the completion of the study, the economists and researchers of MAP S.Platis also worked with Dr. Marios Mavrides and Fiona Mullen.

Hellenic Bank thanked the research team and everyone that contributed to the completion of the study. Dr. Stelios Platis, on behalf of the research team of MAP S.Platis, thanked Hellenic Bank and particularly the bank’s management, both for the excellent cooperation with the research team – particularly for the collection of relevant data, but also for the contribution of the Bank to scientific research by local scientists in the field of economics.