Home prices rose in the second quarter 1.1% compared with the respective quarter of 2016 and a quarterly 0.5% as flat prices pick up, the Central Bank of Cyprus said.

The trade deficit in the first nine months of the year widened by €162.4m to €3.2bn compared with a year before, mainly on increased imports, the statistical service said.

Building permits for residential buildings rose in January to August 2017 an annual 43% in terms of construction area to 683,246 square meters and 52% in terms of value to €699.2m, the statistical service said.

Capital Intelligence, the Limassol-based rating company, said that it revised Bank of Cyprus’ outlook from stable to positive and affirmed the financial strength rating of B+ citing an expected reduction in the bank’s delinquent portfolio as the economy improves.

Energy Minister Yiorgos Lakkotrypis presented the benefits of Cyprus as an investment destination during a business event organised in London.

The European Bank for Reconstruction and Development (EBRD) has upgraded its forecast of Cyprus' economic growth to 3.5% and 2.5% in 2017 and 2018, local media reported recently.

Non-performing loans in the Cypriot banking system fell by €57.8m in July 2017 compared with the month before to €22.4bn as the pace of restructurings dropped, the Central Bank of Cyprus said.

Around 2011, and while attending a conference about real estate in Beirut, I heard a comment that struck my attention and that I still refer to today; when asked about how to forecast future demand, one of the large developers, speaking on a panel of experts, replied using two simple words: “gut feeling”.

According to a recent report from Cyprus Investment Funds Association (CIFA), Cyprus is fast becoming a location of choice for many promoters and fund managers, with the regulatory and government bodies actively promoting Cyprus as a center of excellence for the international fund and asset management industry.

Central banks unwinding quantitative easing, elevated debt levels, multi- century all-time lows in interest rates, economic problems in ‘developed’ economies, stretched asset prices, and Brexit are just some of the potential sources of the next financial crisis, according to the latest research from Deutsche Bank in September 2017.