Cyprus-Forum.com

[Oneness]

I understand that the most significant effect of the introduction of the Euro in 2008 on the Cyprus property market will be that hidden money held in Cyprus currency notes, including cash undeclared for tax avoidance reasons or black market trade activities.

All this talk about people saving a couple of % on exchange fees, well that's hardly going to boost property prices hugely, is it! Just look at the effect the new VAT had on buildings! Not a great lot.

But let us consider that hundreds of millions or billions of such notes may have to be converted before Cyprus notes become worthless ... and that buying property can be the most effective way to launder, now that might make a difference on markets! Any comments or opinions about this??

[Peterc]

i was at the "A place in the sun" exhibition at the NEC two weeks ago and there are still many people looking to move to cyprus. However, not one investor came to our stand. Cyprus is not a country for short term investment. there are many other markets that offer a much better return. Amanda Lamb qoted in one of her seminars that places like Spain Cyprus and portugal could no longer offer to the investor the return that eastern europe could.
In the same breath, the smaller Russian investor is prefering Cyprus to these eastern european countries that this should see the market continue to rise.
Last year 250,000 Brits emigrated abroad and it is reported that more will do so next year, thats if they can sell their own judging on whats going on over there at the moment.
WISH I HAD A CRYTAL BALL.

[Peterc]

crystal

[Hazza]

WISH I HAD A CRYTAL BALL.

The way you have been running at football, I'd predict you had lead balls

Back to what you are saying, 5 years ago, for £25k-30k, you could buy a lovely 2 bed flat walking distance to the beach. Today, the same flats, you'd have to pay nearer 2.5 times more. There are no bargains to have here, there is no good investment opportunity any more. Personally, if I had no links to Cyprus, I too would be looking at Eastern Europe with Bulgaria high on my list.

[Southerner]

Please, Please, everyone got ot Bulgaria, Romania and Turkey or any other east European country there are bargains galore; much cheaper than Cyprus.
That's what I tell people anyway.

[phoenix]

Cyprus is the Southern-most place you can go to in the EU. The southern-most parts of countries, especially if coastal, are usually the most expensive e.g France, U.K. Therefore Cyprus would ALWAYS be the most desirable country in the EU.

And, the more expensive the better . . . it keeps its exclusivity and increases its attraction.

[oranos64]

Cyprus is the Southern-most place you can go to in the EU. The southern-most parts of countries, especially if coastal, are usually the most expensive e.g France, U.K. Therefore Cyprus would ALWAYS be the most desirable country in the EU.

And, the more expensive the better . . . it keeps its exclusivity and increases its attraction.

Yes and then we can make sure our own people can not afford homes in their own country ,and the cost of living constantly rises and wages stay the same ,we divide the country more and more into the have and have nots ...and also make sure we continue not to plan for anything ...as we do ...build in ravines ,buid on cliff tops,,,build and plan for nothing not ever power and water supplies ....

when do you run for government ...let me know so i can get my rifle x100000000

[oranos64]

I understand that the most significant effect of the introduction of the Euro in 2008 on the Cyprus property market will be that hidden money held in Cyprus currency notes, including cash undeclared for tax avoidance reasons or black market trade activities.

All this talk about people saving a couple of % on exchange fees, well that's hardly going to boost property prices hugely, is it! Just look at the effect the new VAT had on buildings! Not a great lot.

But let us consider that hundreds of millions or billions of such notes may have to be converted before Cyprus notes become worthless ... and that buying property can be the most effective way to launder, now that might make a difference on markets! Any comments or opinions about this??

oneness obiviously living in the UK ..you do not see what us cyps do here '

the effect on the vat on homes has had a effect and there is already a slow down in property sales ...the vat on land willl also add to this (a very uncessary tax ..just pure greed from our government ,who have absolutely no business savvy what so ever)
the cost of items is already going up by 10% a month and will rise further next year ...

most builders have for the past 2 years focussed on cheap housing and flats instead ...rarely do you see the large 3 and four bed housing we saw 3 years ago

but ...here comes the but ...with economic slow down predicted around the world and the property boom ending in the UK ....cyprus will survive more from $$$ from the CIS nations (check fridays business section adn headlines in the evening standard

also to those who wish to tell me that cyp has great properties ...watch out ...property and homes abroad ...recently catagorised cyprus as 10th from the top for quality in the investment section ... behind ,turkey,spain ,portugal etc in europe for brits !!!

why ?....lack of quality in house builds,expensive comparisson to villas in other counties ,bad paintjobs or planing in designs ..low business inspections for clients ..slow paperwork resolution ....dodgy deals between lawyers and planning depts/builders ...bad designs

another example of greek cypriots being unorganised ....and doing what they do best ..- lying ,cheating and stealing from the hands that feed them ..

like all investments markets ....it goes up it comes down ,it goes up it comes down

difference is ...here in cyprus ..greed and bad workmanship aid the down ...

[phoenix]

Cyprus is the Southern-most place you can go to in the EU. The southern-most parts of countries, especially if coastal, are usually the most expensive e.g France, U.K. Therefore Cyprus would ALWAYS be the most desirable country in the EU.

And, the more expensive the better . . . it keeps its exclusivity and increases its attraction.

Yes and then we can make sure our own people can not afford homes in their own country ,and the cost of living constantly rises and wages stay the same ,we divide the country more and more into the have and have nots ...and also make sure we continue to plan for anything ...as we do

when do you run for government ...let me know so i can get my rifle

Oranos, you underestimate the Cypriot's business acumen . . . they will always be one step ahead.

Put your rifle away, there's not enough money in politics to attract me . . .

(Only kidding, I hate money It's the difference between "TO HAVE" or "TO BE" and I would rather "BE" than "HAVE")

[Southerner]

I understand that the most significant effect of the introduction of the Euro in 2008 on the Cyprus property market will be that hidden money held in Cyprus currency notes, including cash undeclared for tax avoidance reasons or black market trade activities.

All this talk about people saving a couple of % on exchange fees, well that's hardly going to boost property prices hugely, is it! Just look at the effect the new VAT had on buildings! Not a great lot.

But let us consider that hundreds of millions or billions of such notes may have to be converted before Cyprus notes become worthless ... and that buying property can be the most effective way to launder, now that might make a difference on markets! Any comments or opinions about this??

oneness obiviously living in the UK ..you do not see what us cyps do here '

the effect on the vat on homes has had a effect and there is already a slow down in property sales ...the vat on land willl also add to this (a very uncessary tax ..just pure greed from our government ,who have absolutely no business savvy what so ever)
the cost of items is already going up by 10% a month and will rise further next year ...

most builders have for the past 2 years focussed on cheap housing and flats instead ...rarely do you see the large 3 and four bed housing we saw 3 years ago

but ...here comes the but ...with economic slow down predicted around the world and the property boom ending in the UK ....cyprus will survive more from $$$ from the CIS nations (check fridays business section adn headlines in the evening standard

also to those who wish to tell me that cyp has great properties ...watch out ...property and homes abroad ...recently catagorised cyprus as 10th from the top for quality in the investment section ... behind ,turkey,spain ,portugal etc in europe for brits !!!

why ?....lack of quality in house builds,expensive comparisson to villas in other counties ,bad paintjobs or planing in designs ..low business inspections for clients ..slow paperwork resolution ....dodgy deals between lawyers and planning depts/builders ...bad designs

another example of greek cypriots being unorganised ....and doing what they do best ..- lying ,cheating and stealing from the hands that feed them ..

like all investments markets ....it goes up it comes down ,it goes up it comes down

difference is ...here in cyprus ..greed and bad workmanship aid the down ...

I went to a property shop and gave the clerk a list of fifteen properties that I liked the look of in their brochure, I then said that I was only interested in properties with title deeds available, over half the properties came off the list.
In four weeks time I'm renting a town house on a developement that has bee completed for more than 10 years yet the title deeds are still unavailable, I wonder why?