Cyprus-Forum.com

[Nikitas]

One effect of the Euro which we saw here in Greece is that it allows instant comparison in prices. And also it opens the horizon for Cypriots to buy elsewhere for investment purposes. Which means that the prices are moderated by the Euro, not increased.

Several friends here in Athens have bought property in Bulgaria once they saw the prices quoted in Euros and others in Belgium because flats were less there than in Athens while rents were about the same. Which meant a higher return on their investments. And there are no more exchange controls and bank surcharges for moving currency around.

No offence meant to anyone in Cyprus, but developers there seem to think that Cyprus is the only place offering sun, sea and warm weather. The Euro will hopefully wake them up.

[phoenix]

This is really petty, but quite a few of my friends /acquaintances who prefer Cyprus over elsewhere with similar attractions, do so because they drive on the same side of the road as in the UK

[oranos64]

One effect of the Euro which we saw here in Greece is that it allows instant comparison in prices. And also it opens the horizon for Cypriots to buy elsewhere for investment purposes. Which means that the prices are moderated by the Euro, not increased.

Several friends here in Athens have bought property in Bulgaria once they saw the prices quoted in Euros and others in Belgium because flats were less there than in Athens while rents were about the same. Which meant a higher return on their investments. And there are no more exchange controls and bank surcharges for moving currency around.

No offence meant to anyone in Cyprus, but developers there seem to think that Cyprus is the only place offering sun, sea and warm weather. The Euro will hopefully wake them up.

i keep hearing of a huge slow down ,,,especially of brits buying but no shortage of russians and germans and french people ,,which is nice as i want more culture here in cyprus

i would imagine british investors will look towards their own currency against the euro ,,,a strong euro may put them off buying here but then also a slow down in the U.K economy /political instability high interest rates (politics ,,,,rumours are gordon brown may not see the spring /summer as labour leader )

either way ,,,,i would like ot see more and more fininacial aid to local people ....here in cyprus to help them afford property .,,indeed ,,,i would like to see something of what we had in the U.K ,,,,,affordable property being built along side quality ,,,,

[bill cobbett]

Jerry, these sites will give you some idea of past price movements and also the dangers to avoid when buying:-
http://www.news.cyprus-property-buyers.com/
http://www.cyprus-property-action-group.net/

I would stress the importance of TITLE DEEDS in Cyprus. You may be asked to make over the whole amount before deeds have been transferred to you by the developer through the government Land Registry. Be very wary.

I think on balance, (and yes I know it's nice to move into a brand new home) I would agree with those above who suggest looking at the resale market.

[Jerry]

Thanks for your comments, I have been looking at resale market as well. I'm amazed there are thousands of both new and resale on the market and yet prices appear to be holding up. The normal laws of supply and demand don't seem to apply. Fortunately my cousin's brother in law (the usual way in Cyprus) is a reputable lawyer so I should not have any problems there. I am aware of the title deed issue, I've been advised not to pay full amount until title is transferred.