Cyprus-Forum.com

[Feisty]

Agree with you Miltiades.
Whether you buy property to live in or to use as your means to eat it does not make you greedy.

Personally I do disagree with several members on this thread and think that property prices will fall for possibly the next 2 years.

[Sega]

Are prices coming down? The last time i was in Cyprus i thought the property prices were extremely high. I found this strange as there were so many empty?

House prices in Cyprus are at an all-time high, however, this is soon to change. Currently speaking the main source responsible for the inflation was indeed the British people coming over and purchasing property. Since the UK is having some sort of an economical problem, and most people are tight for cash. I believe this will affect the Cyprus property market. Let's face it, none of the houses are worth the price they are selling them at.

[Sega]

Agree with you Miltiades.
Whether you buy property to live in or to use as your means to eat it does not make you greedy.

Personally I do disagree with several members on this thread and think that property prices will fall for possibly the next 2 years.

Of couse property will fall within the next 2 years, there are no doubts. Property went to high too fast. My grandad bought his land for 20k, now it's worth well over 500k. It's unreal, the only people that can buy land and housing are developers and foreigners, which includes Brits and Russians. Since Britian is facing economical problems they have to slow down their purchases. The Russians who buy here seem to purchase huge-ass houses, leaving the normal housing market out. Houses are only worth what one is willing to pay for it.

[Feisty]

The world is facing financial problems and property prices, like everything else, are subject to global marketing conditions.
In my opinion it will recover and will remain one of the only long term good investments.

[Feisty]

When people talk of greed on the thread I do hold some rather extreme views on property.
In the UK there is a criminal law against handling stolen goods. If, and when, the northern problem is settled I would like to see action taken against people who have knowingly purchased property that they are aware may be stolen as well as having it confiscated.
I don't think it will happen but would like to see it. People have been warned for many years by the Foreign Office against buying property in the north and those that ignored such advice should be punished.

[Bubble 'n' squeak]

What ever way you look at it it is still GREED!!! I don't blame them though i would do the same!! Its all very well saying the property market will recover and i have no doubt it will. But when it does recover the houses won't be saleable as the workmanship is so poor they will be falling down!!

[Feisty]

What ever way you look at it it is still GREED!!! I don't blame them though i would do the same!! Its all very well saying the property market will recover and i have no doubt it will. But when it does recover the houses won't be saleable as the workmanship is so poor they will be falling down!!

There speaks the expert, must be good to have him as an employee though as you'd never have to give him a pay rise as he'd consider it greedy.
Expert in what I fail to see but there you go.

[GAVCARoCOM]

Are prices coming down? The last time i was in Cyprus i thought the property prices were extremely high. I found this strange as there were so many empty?

in north cyprus all my flats rented . i sell flats for £55k

rent income £350 a month . original turkis deeds nicosia

[Sotos]

House prices are increasing in a normal way now, just like everything else. Maybe it is the British pound dropping against the Euro?

[BOF]

Are prices coming down? The last time i was in Cyprus i thought the property prices were extremely high. I found this strange as there were so many empty?

House prices in Cyprus are at an all-time high, however, this is soon to change. Currently speaking the main source responsible for the inflation was indeed the British people coming over and purchasing property. Since the UK is having some sort of an economical problem, and most people are tight for cash. I believe this will affect the Cyprus property market. Let's face it, none of the houses are worth the price they are selling them at.

I think this is a pretty good assumption..after all elswhere in the world Builders ( called developers here?) like anybody else have to cut their cloth accordingly, builders being subject to laws developers are not (no doubt someone will be along to swear at me if im not correct) Spains market IS collapsing and the UK always has people going bust in the building trade when theres a slump, and house prices DO fall, eventually the price begins to return when theres an upturn in the economy. The buyer is getting bit more choosy as money becomes scarce and still wants something that represents value in their eyes. they are not going to pay the same price here as they do in the UK for something that isnt of the same quality of build,has no deeds(they are learning) and looks across a small gap into someone elses bedroom. Some developements today are tomorrows slums, and if they wouldnt buy into that scenario at home why do/would they accept it here??..
No, listening to people ive talked to the way for most of them is to rent, its also the advice being given out on forums UK citizens read by people living here..
BOF