Cyprus-Forum.com

[souroul]

i think this whole property thing is over-hyped. everyone will keep buying in hopes to sell it for twice as much next year (that explains the current "shortage", but when all those places flood the market the developers will be laughing at the poor greedy bastards that are going to be selling for a loss

[greek.god]

i think this whole property thing is over-hyped. everyone will keep buying in hopes to sell it for twice as much next year (that explains the current "shortage", but when all those places flood the market the developers will be laughing at the poor greedy bastards that are going to be selling for a loss

That is exactly what I am waiting for! I believe the market is very inflated, albeit demand from Russian and former USSR colonies expats inflates already crazy prices. Property prices have to drop..people are not going to pay a premium price for property that will devalue in years to come once the market corrects itself.

I'll keep renting and invest my money until the market corrects itself.

[Shipwreck]

Lets remember why most of us came here in the first place. The whole Cyprus package is a brilliant one! Shame we had to join the EU.....

[souroul]

the problem is not the land, theres a bunch of land to be developed. the owners of that land are just not selling it, or if they are they're asking 2020 prices. its all going to fall apart on them.

there was a report on the news today about how the gov is going to tax the shit out of those that own undeveloped land for no reason, in order to kick start the housing market.

imagine what will happen when everyone that owns undeveloped land find out that he's going to be taxed 30% on it... yearly. boom, everyone tries to sell their land and boom, prices pummel.