The Cyprus Property Developers Association met with a delegation from the International Monetary Fund (IMF) on Wednesday, according to an official announcement.

The meeting was attended by the president of the association Yiannis Misirlis, vice president Antonis Kakoullis, and general director Mersina Isidorou.

During the meeting, the association’s president informed the IMF delegation about the “dynamic trajectory of the real estate development sector”.

Moreover, he highlighted that “the market continues to rely primarily on local buyers and European citizens”.

Regarding the resilience of the sector in facing challenges, Misirlis discussed the positive outlook for the future of the industry.

The discussion also included efforts to address the housing problem and increase affordable housing through the housing policy of the Interior Ministry

Both the association and the IMF delegation agreed on the importance of the ongoing efforts, stressing that there is a need for continuous strengthening of measures aimed at effectively tackling the issue.

What is more, the president of the association assured the IMF delegation that “the association will continue to work constructively with all relevant authorities to promote the continued development of the sector, for the benefit of the Cypriot economy and society”.