Cyprus-Forum.com

[FreeSpirit]

He can buy a property and use it for holidays without any kind of permit to stay here. He will need approval of the Council of Ministers, but this is a almost always granted. Make sure he gets a good lawyer!

You have more chance finding the Holy Grail or the Golden Fleece.

We asked a solicitor to look at our rental agreement she quoted 50 to 100 Euros, we went back the next day to hear her opinion and yes the agreement was very flawed and not legal; then the shock she said it was 700 euros with 100 discount so according to her she wanted 600 euros when we were quoted the above figure.
So don't look for the Golden Fleece because you'll get fleeced anyway.
Luckily for us a very good friend intervened who's name goes something like this M..t..d.s.
Can you guess who? no you plonker there's no M,T, D or S in Get Real

[zan]

Limassol developers in crisis
By Anna Hassapi
A PROTEST by Limassol developers against the increased bank interest rates this week revealed just how concerned some professionals in the real estate sector have become. Even more worrying for developers, however, is that Cypriot banks have almost stopped giving out loans to property buyers. This has reduced demand for houses, while their availability grows as a result of foreign property owners selling their holiday homes due to the global crisis.

“Jobs will be lost as we are not planning any new projects for next year. We also have problems with selling properties in current projects as the banks are not giving out loans easily any more,” confirmed Vasos Loizos, Director of Limassol-based Loizou Bros Developments Ltd.

“The main problem is the lack of liquidity, which means that banks are not giving loans. As it is not easy to buy property without getting a loan, the sector is affected. Developers will be forced to slow down with new projects and as a chain reaction other professionals, including real estate agents will be affected,” added Stavros Protopapas, Manager/Property Consultant, Fox Estate Agency in Limassol.

“Business is reduced this month compared to the same month last year, but more time has to pass before we can understand what is happening. What is negative for us is that banks have stopped lending, which has affected our clients,” agreed Andreas Kinnis, Director of the Kinnis Group of Companies.

For those lucky enough actually to get a loan from a Cypriot bank, the increased interest rates will seriously raise the cost of their property. “The increase in interest rates is also a deterring factor for those who do meet the requirements for a loan. Of course, banks cannot stop loans 100 per cent so they do give them out to people who meet requirements. These people, however, will think twice as interest rates are higher,” Protopapas explained.

The situation is further strained by the fact that the foreign buyers, who boosted Cypriot real estate to begin with, are now liquidating their Cypriot properties to deal with the economic crisis. “The global crisis has to a large extent affected Cyprus as we had a lot of buyers from the UK and Europe who bought their second residence on the island. These people are now selling these properties, which has raised the availability of properties. However, demand has been reduced,” Protopapas added.

There are, however, those who believe that the current crisis will in the long run have positive results as it will stabilise previously sky-high prices and control the number of developers. “The crisis could have good results in the long run as prices will stabilise and the solid professionals who survive it will be able to continue in the sector. Plot prices had been raised significantly, which had forced us to raise flat prices. This may stabilise with current conditions,” explained Kinnis.




Copyright © Cyprus Mail 2008

And people will eat less so they will not have to worry about obesity!!

[halil]

Cyprus Property Prices To Fall For Next 3-4 Years

I don't think above headlines are true ..... because the place where i live prices are going up and up everyday !!!!!

a donum of land was 25000 stg fews months ago now it is up to 30000 stg per donum .

we have a land in Hamitkoy and we have been offered 60000 stg per donum and we didn't sell it .

land and properties prices never will be down .

[Jerry]

Cyprus Property Prices To Fall For Next 3-4 Years

I don't think above headlines are true ..... because the place where i live prices are going up and up everyday !!!!!

a donum of land was 25000 stg fews months ago now it is up to 30000 stg per donum .

we have a land in Hamitkoy and we have been offered 60000 stg per donum and we didn't sell it .

land and properties prices never will be down .

Oh really! Prices never go down? Well things are different here in the UK, the house next to mine was advertised for £600k six months ago then £580 and now it is £500k and still no buyers. Cyprus may have never experienced a fall in property prices in the past but I think you may be in for a rude awakening. If you have been offered over the odds for land (I do hope its not GC land) then I would take it while you can, you will almost certainly regret it this time next year

[zan]

Cyprus Property Prices To Fall For Next 3-4 Years

I don't think above headlines are true ..... because the place where i live prices are going up and up everyday !!!!!

a donum of land was 25000 stg fews months ago now it is up to 30000 stg per donum .

we have a land in Hamitkoy and we have been offered 60000 stg per donum and we didn't sell it .

land and properties prices never will be down .

Oh really! Prices never go down? Well things are different here in the UK, the house next to mine was advertised for £600k six months ago then £580 and now it is £500k and still no buyers. Cyprus may have never experienced a fall in property prices in the past but I think you may be in for a rude awakening. If you have been offered over the odds for land (I do hope its not GC land) then I would take it while you can, you will almost certainly regret it this time next year

You are forgetting one thing that is different in the TRNC Jerry.....The land in the TRNC has been undervalued for years. With an "impending" solution, people think that the price in the "RoC" will go down and up in the TRNC to meat it.

[Jerry]

Cyprus Property Prices To Fall For Next 3-4 Years

I don't think above headlines are true ..... because the place where i live prices are going up and up everyday !!!!!

a donum of land was 25000 stg fews months ago now it is up to 30000 stg per donum .

we have a land in Hamitkoy and we have been offered 60000 stg per donum and we didn't sell it .

land and properties prices never will be down .

Oh really! Prices never go down? Well things are different here in the UK, the house next to mine was advertised for £600k six months ago then £580 and now it is £500k and still no buyers. Cyprus may have never experienced a fall in property prices in the past but I think you may be in for a rude awakening. If you have been offered over the odds for land (I do hope its not GC land) then I would take it while you can, you will almost certainly regret it this time next year

You are forgetting one thing that is different in the TRNC Jerry.....The land in the TRNC has been undervalued for years. With an "impending" solution, people think that the price in the "RoC" will go down and up in the TRNC to meat it.

Zan, the land in "trnc" as you well know has two separate values - stolen and pre 1974 TC owned. The GC land has certainly been undervalued because the buyer does not get a legal title whereas legal TC land in the north attracts a much higher price. It would be interesting to know what the difference bteween legally owned land in the north and ROC is, I bet it's not much.

[zan]

Cyprus Property Prices To Fall For Next 3-4 Years

I don't think above headlines are true ..... because the place where i live prices are going up and up everyday !!!!!

a donum of land was 25000 stg fews months ago now it is up to 30000 stg per donum .

we have a land in Hamitkoy and we have been offered 60000 stg per donum and we didn't sell it .

land and properties prices never will be down .

Oh really! Prices never go down? Well things are different here in the UK, the house next to mine was advertised for £600k six months ago then £580 and now it is £500k and still no buyers. Cyprus may have never experienced a fall in property prices in the past but I think you may be in for a rude awakening. If you have been offered over the odds for land (I do hope its not GC land) then I would take it while you can, you will almost certainly regret it this time next year

You are forgetting one thing that is different in the TRNC Jerry.....The land in the TRNC has been undervalued for years. With an "impending" solution, people think that the price in the "RoC" will go down and up in the TRNC to meat it.

Zan, the land in "trnc" as you well know has two separate values - stolen and pre 1974 TC owned. The GC land has certainly been undervalued because the buyer does not get a legal title whereas legal TC land in the north attracts a much higher price. It would be interesting to know what the difference bteween legally owned land in the north and ROC is, I bet it's not much.

It's getting near but not quite yet Jerry...I think there is still room to maneuver. You are right in saying that the GC land is cheaper but even that is changing because it is not the TCs that are interested but there are plenty others that are. You must not forget that people are thinking that a solution will come but not all think that it will be unification. An agreed split is also possible and then land prices will go up more for GC land than TC. High risk I know but people all over the world play these games and win.

[halil]

The lands prices i was talking about were pro Turkish Cypriots lands .

people are praying for us to sell them . why should we sell our lands ?

money is nothing .... but land is forever .....

too many buildings goes around us .... who are going to live in those houses ..... Buildings are increasing everyday .... by comparing our population they are more then 10 times more .... why they are keep building everyday new ones , without selling the old ones .... everything puzzle !

[Oracle]

... but land is forever .....

Not when you have to give it back to those you stole it from, Turk!

[zan]

... but land is forever .....

Not when you have to give it back to those you stole it from, Turk!

Flap flap flap...I thought someone was going to put this little fish out of its misery??

That all you got left Stella....