Cyprus-Forum.com

[pantheman]

Controlled by the SBA (sovereign base authorities) ie the british.

No, it's policed by the UN, none of which are British in that sector. It is near the SBA, but not part of it.

Also, that is only the centre of the village. Most of the new developments are outside the buffer zone in the RoC.

Thanks for that, you learn something everyday!

[Bill]

We are not selling to people in Cyprus, we present this opportunity for South African investors.
There is a guarenteed rental income for 10 years and with capital growth the return will be huge.

Are you sure there will be HUGE capital growth

The fact that there's 10 years guaranteed rental income means that the properties are way over priced to accommodate that guaranteed return.

There is no such thing as a free lunch and there is no such thing as guaranteeing the property will be rented.

My nephew has two properties in Pyla and one in Orocklini ~ he bought them to rent out at to quote the developer "a huge profit p a"

He's managed to rent one out on a long term basis at a ridiculously low rent ( his words ) and still has the other two empty.

He's not a happy chappie as he expected to make a fortune according to the developers wise words and promises.

We now don't speak as everything I said to him when he talked about buying the properties has come true.

I don't take any satisfaction from being right and I really wished all the developers promises had come true but they haven't and for some unknown reason I've got part of the blame.

He's also bought some land that he's unable to do much with which also wasn't a wise investment.

Some people will just not listen to sound advise .

So if your buyers are expecting to pay the mortgage on rental income ( no doubt one of your selling points) they are going to be very disappointed even with the so called guaranteed rental.

I'd love to know how much the guaranteed rental is per month ~ just out of curiosity ~ also ten years is a long time for a developer to pay out to the buyer ~ are you sure it's not a scam and that guaranteed rental disappears after 12 months.

I suppose with South Africa being so far away you could tell your clients anything and they would probably believe it ~ just hope you are prepared for the fallout when it all goes sour and they start banging on your office door .

Oh ~ Pyla stretches from the sea/beach area ( nothing special ) to the village about 2 miles distance ~ at the moment there's lot's of open spaces between the two but it's rapidly becoming a concrete jungle .

As mentioned before Pyla village is a mixed village of Turkish and Greek Cypriots under the watchful eye of the UN ( not so much nowadays) and is in close proximity to the British army base area.

Pm me your web site and I'll tell you more about the area of your development and even take a few pics and email them to you if you ask nicely

Bill

[purdey]

You are too nice Bill. 10 years guaranteed rental, I will have some of that ! please if that were the case and it paid the mortgage they would all be sold now.

[Z4]

I smell a rat here!.....nobody can guarantee something for 10 years unless as Bill states earlier the developer is charging over the odds in the first place

[Bill]

You are too nice Bill. 10 years guaranteed rental, I will have some of that ! please if that were the case and it paid the mortgage they would all be sold now.

To be quite honest Purdey I was a little unsure that David was as naive as he appears in his first post ~ personally I don't think he has a clue what he is selling and where it is .

I only live roughly 5 mins drive away and I'm reasonably familiar with the area so it's no big deal if I pop into Pyla one day when I'm passing .

The offer is open to him if he wishes to take advantage of it .

The guaranteed rental income for 10 years has set alarm bell ringing straight away ~ I've heard of developers giving one or two years guaranteed rental but the buyers are actually getting their own money back as they have paid over the odds for the property in the first place .

Sounds very dodgy to me

I guess the buyers won't be told that the properties will not belong to them in a legal sense for at least 5 years due to non issue of title deeds and they will still belong to the developer even if it's been fully paid for ~ plus that there's a acute water shortage with water supplied on a ad hoc basis to private residences ~ not the sort of thing a potential buyer really wants to hear.

I had to smile at one of the pics on his companies web site showing dozens of coaches waiting at Larnaca airport to transport the many "eager" holiday makers that they think will be presumably renting out one of the "investment" properties .

Bill

[pantheman]

Bill, I checked the website but didn't see any cyprus properties nor the picture you mention.

Where did you see it??

[Z4]

Bill, I checked the website but didn't see any cyprus properties nor the picture you mention.

Where did you see it??

Ditto

[Bill]

Bill, I checked the website but didn't see any cyprus properties nor the picture you mention.

Where did you see it??

Ditto

You are both quite correct ~ there seems to be no mention of Cyprus at all now ~ lots of pages under construction though.

There were two galleries showing, one with 42 pics and another with 30 odd pics ~ mostly of the Larnaca area ~ one of the pics showed all the buses at Larnaca airport waiting to take the tourists to their holiday apartments .

Oh well ~ before you could see it and now you can't

Something definitely doesn't add up here ~ very strange

Bill

[David Sandmann]

thank you to all for the valueble info...had a goood meeting with investors last night and it looks like i will be coming to Cyprus in september...once again thank you for the info

[perdike]

thank you to all for the valueble info...had a goood meeting with investors last night and it looks like i will be coming to Cyprus in september...once again thank you for the info

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