5th Real Estate Conference
THE FUTURE OF REAL ESTATE
Organizers
Coordination
Communication Sponsors
24 September 2009, Hilton Park Hotel, Nicosia
Conference Thematology 08:30-09:00 09:00-09:10 Registrations Chairman’s brief
09:10-109:30 Welcome Speeches Government’s Philosophy regarding real estate -Neoklis Silikiotis, Minister of Interior, Ministry of Interior Welcome Address -Lakis Tofarides, President, Land & Building Developers Association The impact and effects of the economic crisis on the Cyprus Real Estate Market How institutions like RICS (Cyprus) could help its members and the market as a whole overcoming such crisis. -Petros Stylianou, MRICS, President, Royal Institute of Chartered Surveyors 09:30-09:50 Latest trends in global commercial property markets • Challenges for the global economy and how this may affect commercial property markets • RICS outlook for global economic growth and prospects for Western Europe -Oliver Gilmartin, MRICS, Senior Economist, Royal Institute of Chartered Surveyors, United Kingdom Cyprus Real Estate Sector-Pricing policy of real estate and predictions for 2010 The Cyprus Real Estate Sector is going through a major downturn. The presentation will present the Property Valuers Associations perspective on the problems that are encountered. It will also analyze some of the major trends of the Sector. - Charalambos Petrides, MRICS, Director Landtourist Estates, President Property Valuers Association Placing Cyprus on the map of the World Real Estate • How can Cyprus become property destination • What should be done to attract foreign investment • Any specialization that needs to be adopted by Cyprus real estate market • Practical examples -Miltos Kampourides, Founder and Managing Director, Dolphin Capital Investment, United Kingdom Questions and Answers Networking Coffee Break UK demand for international holiday homes
09:50-10:10
10:10-10:30
10:30-10:40 10:40-11:10 11:10-11:50
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At the height of the global property boom UK and Irish buyers were acknowledged as the most active purchasers of holiday homes for lifestyle, investment or a combination of both. However, the global downturn and credit crunch has resulted in a major decline in buying activity among this group of international purchasers, with new buyer markets from Russia, Asia and the Middle East filling part of this gap. Drawing upon bespoke research conducted by OPP and Datamonitor, and a range of trade and consumer sources of information, this presentation will provide insights into the changing demands of UK and Irish holiday home buyers, their preferred destination and property types, and key concerns in the context of the Cyprus market. Presenting insights into how the industry is responding to these concerns and expectations, it will also offer some similar observations on activity among Russian and Middle Eastern buyers. -Alex Evans, Group Editorial Director, Overseas Property Professional (OPP), United Kingdom 11:50-12:10 The demand from Holiday Homes from Russian investors International destinations such as Cyprus, Bulgaria, Montenegro, Czech Republic and the French Riviera have been winning strong interest from Russian investors. In the framework of this presentation, it is sought to draw awareness to the particular market and physical characteristics, which appeal most to Russian holiday home buyers interested in overseas acquisitions and the reasons for them choosing certain domestic and international destinations, which, to-date, have attracted the largest amount of Russian real estate investment. Further, the presentation will focus on reasons why Cyprus could become just as popular to affluent Russian real estate buyers. Finally, the impact of the economic downturn on Russian holiday home buyers will be considered in view of how these adverse conditions may potentially affect their acquisition of holiday homes in Cyprus in the short to medium term. -Stephane Meyrat, MRICS, Vice President, Hotel Advisory Services, Jones Lang LaSalle Hotels, Russian Federation Issue of Title Deeds. The time consuming process and the need to simplify the procedures. The presentation will give an indication of the major problems encountered in the issue of title deeds. • What needs to be resolved • The ministry’s suggestion • The role of the Property Valuers • What can we expect in the future -Antonis Kakoullis, Member of the board of the Land and Builders Association New projects in Cyprus The presentation will focus on the latest construction and property projects within the next five years, including their funding and how these will contribute to the real estate sector. Statistical figures will also be used -Alekos Michaelides, Director of Public Works Department, Ministry of Communications and Works, Cyprus
12:10-12:30
12:30-12:50
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12:50-13:00 13:00-14:00 14:00-14:20
Questions and Answers Networking Coffee Cocktail (sponsored by CYTAMOBILE-VODAFONE) The cost of Buying a house in Cyprus - Yiannis Misirlis, Director, Imperio Properties, Member of the board of the Land Builders Association, Cyprus
14:20-14:40
Mergers and Acquisitions in the Real Estate Sector/ Case Study: Cyprus • The advantages- Who does it concern • Due Diligence • Proceeding with the deal • The obstacles and hazards • What is the way out for most Companies -Christophoros P. Anayiotos, ACA, Board Member, Advisory, KPMG Limited, Cyprus Panel Discussion-The future of Cyprus Real Estate Financial crisis has affected, to an immense extent, the real estate and construction sector in Cyprus, a market that has already undergone/ faced problems and has had more enterprises that it could bear. In the panel discussion, the protagonists of the sector share their opinions with the audience and provide their predictions. • How does the Development Mix in Cyprus being modified- the forecasts for the next 3-5 year • What are the trends in construction/real estate o Residences o Apartments o Rural residences/apartments What are the trends in commercial real estates and offices Leisure developments and organized tourist developments How will be the growth of districts geographically How was the market in 2000, how it is now and how it will be shaped in the next five-years What are the problems faced by professionals in the sector Is supply more than demand in the real estate sector
14:40-15:40
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Coordinator: Chrisanthos Tsouroulis, Reporter Members of the Panel Discussion • Elias Eliades, Managing Director, Pafilia Estates • Pavlos Loizou, MRICS, RICS Cyprus Board • Kiriakos Talattinis, MRICS, Vice President, Property Valuers • Christos Giovanni, Managing Director, Giovanni Developments • Lakis Tofarides, President, Land & Building Developers Association • Kiriakos Xrisoxoos, Managing Director, Cyfield Developments
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