Cyprus-Forum.com

[oranos64]

Well if you two keep harping on about it we might start some panic selling at least.

The ridiculous profits everyone hears about where mostly made in Limassol with a number of russian billionaires paying ridiculous prices for average plots of land.

The actual profits from sale of land are not something to rely on. Basically it means someone had land, sold it for more than he had and has re-invested this money in the economy. Fat cat developers as My friend Oranos calls them re-invest them back into land wheras everyone else finds other ways. After this one sale this money is out of the land industry and re-applied to the economy.

In a dramatic shift in land prices (which is difficult considering what a small place this is and especially the lmited coastline) the foreigners who have purchased land in the tourist areas will be hit no doubt...there might even be a small replica of what happened in SPain. There will be a slow down in this industry however those affected will be limited to developers and foreigners. The population in Cyprus is not heaviliy invested in the property developers to be hit by a fall in share prices.

Now as far as homeowners are concerned, considering that mortgages are a relativley new concept in cyprus and mpst peole own their homes outright thanks to the father of the bride any fall in prices will not de-stabilise the household income.

Borrowing rates of EUros will also gaurantee that money wil still be cheaper to get than before thus maintaining demand on the land anyway.

It's not only the developers is a whole circle of business affecting too many people. And it's not only in Limassol, perhaps you haven't seen what is going on in the whole Paphos district, starting from Mandria all the way through to Ayios Neophytos, Polis, even Argaka and Akamas...

I wouldn't call it healthy turning the money back to the economy when someone just sells a few lands, buys a Mercedes and lives like a king without working anymore.

DT I am eally surprised, haven't you spotted where all this 4-5 years excess of money is coming from? Jeez even the Tcs doubled their income the last 4 years doing exactly the same!

once again well said ...not to mention that loads of property is unsold now ,..and in larnaca ...some 41 families left in august back to the U.K ..

the problem is the whole economy ...being so small ...balances on the pockets of the whole community ...jitters in one section effect the other ....

[zan]

The selling of council houses at discount prices, in the Thatcher years, is what gave the normal Brit the money to invest in very many places. That money has now run out and cheep holidays are back on the menu for millions of Brits. Both will be effected by the coming recession. Turkey is much cheaper than Cyprus for both.

i agree you have CHEAPER ...BETTER BEACHES due to the size of turkey and in some way BETTER FACILTIES ......TURKEY IS NICE ...

BUT WE HAVE NAPA ...AND THE CLIENT BASE IN CYPRUS IS BOTH AT 18-30 HOLIDAYMAKER AND FAMILY IN PROTORAS ...AND Turkey doesnt not compare ....

I agree with you also but the two different types of tourist will effect the result also. Turkey is for the families and couples whereas Aya is for singles. That market is so fickle as the Spanish and other Greek islands have found to their disappointment. Massive investment is needed in these areas now as they try to win back the families. It reminds me of the 80S in the UK when one massively popular wine bar or club was left stranded as the young party goers moved onto the next one. Where the chics go so will the lads. Epping Forest country club one minute then Charlie Chans the next.

[oranos64]

The selling of council houses at discount prices, in the Thatcher years, is what gave the normal Brit the money to invest in very many places. That money has now run out and cheep holidays are back on the menu for millions of Brits. Both will be effected by the coming recession. Turkey is much cheaper than Cyprus for both.

i agree you have CHEAPER ...BETTER BEACHES due to the size of turkey and in some way BETTER FACILTIES ......TURKEY IS NICE ...

BUT WE HAVE NAPA ...AND THE CLIENT BASE IN CYPRUS IS BOTH AT 18-30 HOLIDAYMAKER AND FAMILY IN PROTORAS ...AND Turkey doesnt not compare ....

I agree with you also but the two different types of tourist will effect the result also. Turkey is for the families and couples whereas Aya is for singles. That market is so fickle as the Spanish and other Greek islands have found to their disappointment. Massive investment is needed in these areas now as they try to win back the families. It reminds me of the 80S in the UK when one massively popular wine bar or club was left stranded as the young party goers moved onto the next one. Where the chics go so will the lads. Epping Forest country club one minute then Charlie Chans the next.

wo ,....epping and chans ...80s ...shit ..i was there in the 90s ....was there a scene therefore before my time ...

well i love spain...and greek islands ...Turkey is really nice ..cyprus is over priced ..but you cant knock ...the quality and facilties ...
crete malia is the place for youngsters ...protoras is big with families

[DT.]

Well if you two keep harping on about it we might start some panic selling at least.

The ridiculous profits everyone hears about where mostly made in Limassol with a number of russian billionaires paying ridiculous prices for average plots of land.

The actual profits from sale of land are not something to rely on. Basically it means someone had land, sold it for more than he had and has re-invested this money in the economy. Fat cat developers as My friend Oranos calls them re-invest them back into land wheras everyone else finds other ways. After this one sale this money is out of the land industry and re-applied to the economy.

In a dramatic shift in land prices (which is difficult considering what a small place this is and especially the lmited coastline) the foreigners who have purchased land in the tourist areas will be hit no doubt...there might even be a small replica of what happened in SPain. There will be a slow down in this industry however those affected will be limited to developers and foreigners. The population in Cyprus is not heaviliy invested in the property developers to be hit by a fall in share prices.

Now as far as homeowners are concerned, considering that mortgages are a relativley new concept in cyprus and mpst peole own their homes outright thanks to the father of the bride any fall in prices will not de-stabilise the household income.

Borrowing rates of EUros will also gaurantee that money wil still be cheaper to get than before thus maintaining demand on the land anyway.

It's not only the developers is a whole circle of business affecting too many people. And it's not only in Limassol, perhaps you haven't seen what is going on in the whole Paphos district, starting from Mandria all the way through to Ayios Neophytos, Polis, even Argaka and Akamas...

I wouldn't call it healthy turning the money back to the economy when someone just sells a few lands, buys a Mercedes and lives like a king without working anymore.

DT I am eally surprised, haven't you spotted where all this 4-5 years excess of money is coming from? Jeez even the Tcs doubled their income the last 4 years doing exactly the same!

once again well said ...not to mention that loads of property is unsold now ,..and in larnaca ...some 41 families left in august back to the U.K ..

the problem is the whole economy ...being so small ...balances on the pockets of the whole community ...jitters in one section effect the other ....

I don't see how this will cause a recession?

[T_C]

قبرصيّة تركيّة

An inheritance (qbrsa) .

Not sure what you mean when you say inheritance Pyro but it spells "Cypriot Turkish"

[Pyrpolizer]

Hi Tc,

I've put it on a translation engine actually (thinking it was arabic) and it gave me that weird result.
http://www.1-800-translate.com/machine_trans/

Thanks for explaining.

NB. is it arabic or Turkish written in old alphabet?

[utu]

I thought the discussion was about Varosha/Maras?

[T_C]

Hi Tc,

I've put it on a translation engine actually (thinking it was arabic) and it gave me that weird result.
http://www.1-800-translate.com/machine_trans/

Thanks for explaining.

NB. is it arabic or Turkish written in old alphabet?

Yes it's arabic. I've just tried that site in the link but I got an error message.

Google translator got it right though.

http://www.google.com/language_tools?hl=EN

[T_C]

I thought the discussion was about Varosha/Maras?

Stop seeking attention you!

[74LB]

Hi my family are from the ghost town of Varosha. I just want to know why the TC's will not hand the town back so the GC's can return. I cant understand what the benefit is by keeping the town hostage.

It is not the TC's that decide whether Varosha is handed back or not. It would have been better to occupy and populate the town than to leave it to ruin so speculators and others can get rich at a later date. Its presence in its current state is a blot on the actions of the Turkish army in 1974 and of the politicians since.........

Couldn't agree more - it is such a shame that this beatiful place has been left to rot, however after this much time I guess it will only be handed back as part of a settlement.

I posted this link/pics on another thread ..........Sad, so sad.

http://www.flickr.com/photos/canissa/sets/72157594448523824/