Cyprus-Forum.com

by **Raymanoff** » Tue Mar 18, 2008 9:47 pm

In my case, a young family of 2 Adults and 1 kid... we need 3000 euros a month to pass by, not much savings left...there is always something to pay for, road tax, tax, soc insurance, medical, loans, some finance stuff, food, petrol expenses gone to 300 a month already... then there is electricity etc.. its crazy, i have NO idea how people survive on 700 a month,

by **Crivens** » Wed Mar 19, 2008 9:41 am

i have NO idea how people survive on 700 a month

Families of many generations live in the same house, and most of them have a job. Pretty much only way you can do it. Just do the maths. Typical rent is probably 200-300CYP a month at a guess, electric can easily top 150CYP a month depending how you use it, and just those 2 things has took over half your salary. Add the various small bills and you kiss goodbye to another 100CYP or so. That leaves you with a couple of hundred to pay for all food, other bills (eg. car) etc. Can't be done on your own.

I see a lot of european women taking the mick out a lot of Cypriot men living with their parents until they are in their 30's or later, but seriously with these wages unless your family is loaded then what other choice do they have? Of course it would help if a lot of people didn't *have* to have a brand new Merc on a massive loan (and still live with parents)

Personally I say go to the UK for a few years, like a lot of people do, and get in on the housing market sharpish (not so easy these days admittingly) then hopefully it makes enough to buy a place outright in Cyprus a few years later.

Cheers

by **purdey** » Wed Mar 19, 2008 10:43 am

It seems the sensible way to do it.The loan on the car always amazes me.The vast majority of people I know have loans up and above £20,000 on the cars alone.Some pay on a monthly basis others just pay when they can,with little or no hassle from the garage, HP company, or bank.
Buying in the UK is a great idea but prices have gone through the roof.Where I live there are only old houses,and a two bedroom small (very small cottage) start at £310,000.No chance for the local young never mind a Cypriot.
I am afraid gone are the days of cheap living,the next generation where ever they are from are going to struggle.

by **FreeSpirit** » Wed Mar 19, 2008 5:00 pm

purdey wrote:It seems the sensible way to do it.The loan on the car always amazes me.The vast majority of people I know have loans up and above £20,000 on the cars alone.Some pay on a monthly basis others just pay when they can,with little or no hassle from the garage, HP company, or bank.
Buying in the UK is a great idea but prices have gone through the roof.Where I live there are only old houses,and a two bedroom small (very small cottage) start at £310,000.No chance for the local young never mind a Cypriot.
I am afraid gone are the days of cheap living,the next generation where ever they are from are going to struggle.

This when the people who sold down south in the UK, bought cheap in Cyprus and spent the balance now find reality staring them in the face, the proceeds from that lovely bungalow in Cyprus will only buy a beach hut down south in the UK these days.

by **purdey** » Wed Mar 19, 2008 5:04 pm

Yes freespirit, and now they are finding they cannot sell their property in Cyprus, so the problem is two fold.

by **Crivens** » Wed Mar 19, 2008 6:42 pm

the proceeds from that lovely bungalow in Cyprus will only buy a beach hut down south in the UK these days

Perhaps, although it's in a bit of a dip at the minute. I have a few friends who have had to lower their prices significantly to sell. One example just outside Ascot was put on for £275k just over a year ago. Was put at the price that 3 different estate agents estimated it at. They have eventually sold it, but at £250k (Estate agents told them a revised estimate of £255k just before sale which they had on for lower price of £265k. Yep, they accepted a £15k drop from advertised price - nothing is selling unless you drop apparently). I also keep track of things from my old area near Ascot and quite a few places are dropping £10k+ in the last few months.

Cheers

by **Bill** » Wed Mar 19, 2008 8:15 pm

Sophia1 wrote:Just hope the Cy's dont sign that paper titled Human Rights coz you wont only be worried about your bills, you will be worried about funding people that sit on there back sides not doing any thing like over here..

WOW ~ I could manage that ~ being paid for sitting on my arse and doing nothing :lol:

As a matter of interest Sophia it's already happening in Cyprus ~ there are two families in my street and at least 5 more families in my neighbourhood from Iraq doing just that :shock: