"The ever increasing number of unsold apartments and houses in Cyprus is placing a heavy financial burden on the developers. As well as having to service their mortgages, developers have to pay for the maintenance and upkeep of their unsold properties.

.. THE SHARP drop in the demand for property in Cyprus has pushed the number of unsold apartments and houses up considerably, with some developers now offering discounts of up to 30% fearing that the situation will worsen in the coming months."

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