Cyprus-Forum.com

[CBBB]

I know that developers in Nicosia are laying people off, and the market here is mainly locals.

I know many are still devloping, but how much empty unsold property is there in Limassol?

Ayia Napa/Protaras and Paphos are full of unsold apartments and villas.

[Tim Drayton]

I know that developers in Nicosia are laying people off, and the market here is mainly locals.

I know many are still devloping, but how much empty unsold property is there in Limassol?

Ayia Napa/Protaras and Paphos are full of unsold apartments and villas.

I get a useful barometer of the local housing market on my daily stroll through the neighbourhood. I would say, yes, there is empty unsold stuff around, but things don't usually stay empty for more than a few months. I have noticed several brand new sites being flattened out in recent weeks. Just down the road, Kanika has recently started a development it is calling "Agios Athanasios Hills" which judging by the artists impression on the billboard next to it will contain dozens of houses and flats. Either these people haven't heard that the world is going into recession and are going to get their fingers burnt, or they know something we don't. I would be delighted if some of the remaining green patches in our area stayed green, but it isn't happening.

[Sotos]

That's where the Russian pimps live while their girls are working in the other bit.

I doubt there are any Russian pimps in Cyprus. All cabarets are owned by Cypriots And most girls working at cabarets are not from Russia but from other eastern European countries. Last census in 2001 showed less than 5000 Russians in all Cyprus and most of them came in the 90s. So no way there are 20.000 Russians just in Limassol!! Pontians have Greek passports and are listed as Greek not Russian. The property market in Limassol, Larnaca and Nicosia are driven by locals so it has no real slow down. Some rich Russians buy some very expensive villas in Limassol but that is not what keeps the market, just maybe the market for super expensive villas that nobody else would buy!!

[LENA]

I know that developers in Nicosia are laying people off, and the market here is mainly locals.

I know many are still devloping, but how much empty unsold property is there in Limassol?

Ayia Napa/Protaras and Paphos are full of unsold apartments and villas.

Most people now are renting for some reason. Nobody wants to buy now...even though it is a good period IMO to buy a property since the market is flat and you can get a better price. The economy crisis scared everyone...weird...if I had money I was going to buy now instead of have them in the bank.

Tim is so right....lots of developers have project going on at the moment even until 2010 and they advertise them in their websites or in other estate agencies.

[halil]

Russians flocking to sunny Cyprus
By Evan Osnos
Thursday, January 9, 2003 - Page updated at 12:00 AM

Chicago Tribune

LIMASSOL, Cyprus — In a park where the palms stretch skyward and the eucalyptus leaves rustle, the people of this seaside Greek Cypriot town proudly display the bronze statue of a literary icon.
Homer? Aeschylus?

No. Pushkin, of course.

The recently donated bust of the Russian master hints at the newest wave of migration to this alluring island in the Mediterranean. Like Greeks, Venetians, Britons and Turks before them, legions of Russians are wrapping this tiny country in a bear hug of tourism, settlement and business.

In barely a dozen years, the Russian population on Cyprus has surged from a scattering of families to a year-round community officially tallied at 15,000 — no small quantity in a nation of 800,000. Newspapers and real-estate companies that cater to Russians estimate that the community grows to 35,000 during busy summer months.

http://community.seattletimes.nwsource. ... g=cyprus09

[CBBB]

I know that developers in Nicosia are laying people off, and the market here is mainly locals.

I know many are still devloping, but how much empty unsold property is there in Limassol?

Ayia Napa/Protaras and Paphos are full of unsold apartments and villas.

Most people now are renting for some reason. Nobody wants to buy now...even though it is a good period IMO to buy a property since the market is flat and you can get a better price. The economy crisis scared everyone...weird...if I had money I was going to buy now instead of have them in the bank.

Tim is so right....lots of developers have project going on at the moment even until 2010 and they advertise them in their websites or in other estate agencies.

I work for a developer in Nicosia and they have a number of big projects on, but they are slowing them all down as they don't see sales picking up in the near future.

[Tim Drayton]

One of the big property developers (Zavos I think) has all-over adverts on some of the buses on the number 30 route that plies along the Limassol sea front. These adverts used to be in English and now they are in Russian. Doesn't that tell you something?

[halil]

Russians flocking to sunny Cyprus
By Evan Osnos
Thursday, January 9, 2003 - Page updated at 12:00 AM

Chicago Tribune

LIMASSOL, Cyprus — In a park where the palms stretch skyward and the eucalyptus leaves rustle, the people of this seaside Greek Cypriot town proudly display the bronze statue of a literary icon.
Homer? Aeschylus?

No. Pushkin, of course.

The recently donated bust of the Russian master hints at the newest wave of migration to this alluring island in the Mediterranean. Like Greeks, Venetians, Britons and Turks before them, legions of Russians are wrapping this tiny country in a bear hug of tourism, settlement and business.

In barely a dozen years, the Russian population on Cyprus has surged from a scattering of families to a year-round community officially tallied at 15,000 — no small quantity in a nation of 800,000. Newspapers and real-estate companies that cater to Russians estimate that the community grows to 35,000 during busy summer months.

http://community.seattletimes.nwsource. ... g=cyprus09

Population of Cyprus
People Who Have Settled, Retired & Permanently Living in Cyprus –

Population of Cyprus 788.457

People who have moved to Cyprus –

85,000 Anglo Cypriots
74,000 British expatriates
29,000 Russian & Ukrainian
27,000 Arabs from Various Arab Nations
16,000 Germans
12,000 Scandinavians
9,000 Dutch
4,000 French
4,000 Italians
2,000 Spaniards
2,000 Anglo / British Turkish Cypriots
1,500 Israelis

265,500 Overseas Settlers In Cyprus
522,957 Cypriots



Over 33% / A third of the total population is made up by settlers, people who have chosen Cyprus as their new home.

This is a higher percentage figure than any other European country. Making Cyprus the most popular place to live in Europe

Cyprus has become popular for investment simply because it has the greatest return on property investment than any other country in the meditteranean


http://bridgelaneproperties.com/main/in ... -of-cyprus


above figures are very interesting why they don't show Greek population from Greece in here ... are they counted under the GC's population .

[CBBB]

Interesting figures Halil, but bridgelane don't quote a source for this, not that I am disputing it, but would be nice to know where it came from.

[DT.]

I know that developers in Nicosia are laying people off, and the market here is mainly locals.

I know many are still devloping, but how much empty unsold property is there in Limassol?

Ayia Napa/Protaras and Paphos are full of unsold apartments and villas.

Most people now are renting for some reason. Nobody wants to buy now...even though it is a good period IMO to buy a property since the market is flat and you can get a better price. The economy crisis scared everyone...weird...if I had money I was going to buy now instead of have them in the bank.

Tim is so right....lots of developers have project going on at the moment even until 2010 and they advertise them in their websites or in other estate agencies.

I work for a developer in Nicosia and they have a number of big projects on, but they are slowing them all down as they don't see sales picking up in the near future.

They're all waiting for construction costs to climb down as well.

2 construction firms I know over here are sticking to their guns and not planning on lowering their offers for the next 12 months. Despite a large number of their projects being stalled by their clients.