Cyprus-Forum.com

[Bananiot]

Me too. until after 1974, when the Famagustian expertise lifted them out of the middle ages and now the Paphians dread (any) solution to the Cyprob.

[CBBB]

What about that wonderful Brit village 'Peyia', all worried about their property values as they want to leave as it is not UK in the sun!

There are too many barking dogs according to Cyprus Dying!

[purdey]

"who let the dogs out ?" maybe their barking is forewarning of change. Maybe listen to the odd one or two before kicking them !!

[CBBB]

Perhaps the dogs are after the "Fox"!

[Tim Drayton]

I was out and about in Limassol yesterday. Apart from the point I made earlier in this thread about construction work continuing at a frenetic pace in this area (and even though today is a public holiday, I see work going on at a few building sites around me here) there is other anecdotal evidence to suggest that the local economy is still doing fine. I counted more than a dozen merchant ships anchored at the approaches to Limassol harbour waiting their turn to enter. Almost every second shop in the town centre has a sign in the window advertising vacancies for sales staff. I hear no rumours whatsoever of any local banks being in trouble. It seems that they all continued to engage in boring, traditional banking so that their balance sheets are in good shape. Perhaps it would be over the top to say, "Crisis - what crisis?", but the signs are that Limassol is in good shape to weather the storm.

[purdey]

Limassol is in good shape, money seems to fly in from all corners of the world and the face of the town changes on a monthly basis.
My question would be how much of that expansion and money is Cypriot, and how many Cypriots are benefiting.
As for vacancies in shops and other businesses, yes they are there but at what rate of pay, I am afraid the vast majority of these vacancies are paying minimum wage and below, who can survive on that at todays prices, maybe these jobs appeal to the imported cheap labour.
I suppose the only way to find out how well Cyprus is doing is when the banks start to call in the loans, or maybe we are wrong and Cyprus is the only place in Europe that is doing well.

[Nikitas]

Bananiot,

It is the third posting of yours which is disparaging for our Paphian compatriots, what is it with you and Paphites? Your name Paul and you empathise with the Saint's plight in Paphos, or is it something else?

It is fascinating to read Tim's report of frenetic building in Ayios Athanassios and the answer that these apartments are aimed at Russians. Is it likely that Rusians will come and live in Ayios Athanassios?

[Tim Drayton]

Bananiot,

It is the third posting of yours which is disparaging for our Paphian compatriots, what is it with you and Paphites? Your name Paul and you empathise with the Saint's plight in Paphos, or is it something else?

It is fascinating to read Tim's report of frenetic building in Ayios Athanassios and the answer that these apartments are aimed at Russians. Is it likely that Rusians will come and live in Ayios Athanassios?

No, actually Agios Athanasios is not where Russians in Limassol live, it is largely a Greek Cypriot suburb. The point is that Rusian money is boosting the property market in Limasol in general, and what is happening here is a kind of knock-on effect. Russian money makes property more expensive in the parts of town where Russians want to live, so local buyers look elsewhere.

[purdey]

Russian money is boosting the market in unrealistic terms. At present the money is free flowing but only in certain areas (seafront, seaviews, prime land).
As in the 90s it boosted property rises across the board and then the money stopped, and the Ex Pats took over the reigns. Now it is back but for how long ? and the Ex Pats are not arriving in the numbers they once were, what happens to the market then, is Cyprus left with a glut of properties over priced and vacant ?

[Svetlana]

You may laugh at the impact on ex-pat property values, but this will hit developers and then in turn: the Mercedes Dealer, Cabarets, Up market restauarants, hi end boutiques etc etc.

The workers will lose their jobs and then in turn: local shops and service suppliers.

No one wins.

Lana