Cyprus-Forum.com

[DANGAMAN]

It was reported in the Cy Mail a few days ago that prices had gone up 4% in Nicosia this year, but I am not sure I believe that. Probably fairly stable at the moment.

Even stable is good in this global crises

Those developers who owe money to the banks will have to bring their prices down.

[kurupetos]

It was reported in the Cy Mail a few days ago that prices had gone up 4% in Nicosia this year, but I am not sure I believe that. Probably fairly stable at the moment.

Even stable is good in this global crises

Those developers who owe money to the banks will have to bring their prices down.

Will they? Really?
Omonia FC is not doing very well at the moment. I am pretty sure they will increase the prices if they want to buy some new players for next season.

[Mr. T]

Unfortunately normal laws of supply and demand don't apply in Cyprus. Loss of profit resulting from a fall in demand is countered by putting up prices. Something called "the elasticity of supply and demand" seems to have escaped those who wish to sell property in Cyprus.

I completely agree. One example, on my last visit to the island ( to Kyrenia), was towards the end of the tourist season when holidaymakers were becoming few on the ground.
So what did cafes do?
Reduce prices to encourage the tourists into their establishments and make some profit albeit not as much as normal? No, that would have been too sensible.

Instead the approach was to raise prices to ridiculously high levels. Not wanting to be ripped off the tourists stayed away muttering the likes of ' Do they think we are fools and we won't be coming back to this country again'

Results
(i) near empty cafes and negligible profits.
(ii) reduced tourist numbers in the future

Will the cafe proprietors have learnt their lessons?
We know the answer.

[Get Real!]

Both sides of Cyprus are suffering from both a property slump and a drop in tourism.

Surely you’re not comparing the 100 odd dodgy tourists that opt for the illegal Turkish military base (some of which are most likely looking for a refuge from their persecutors), to the literally millions that arrive in Cyprus every year?

[Trustme]

Ah, but smoking is a no-no up there! so at least they are ahead of the south in that way.

[Get Real!]

Ah, but smoking is a no-no up there! so at least they are ahead of the south in that way.

Ahead or behind?

That’s one kind of “modernization” we’re not interested in.

[Oracle]

Unfortunately normal laws of supply and demand don't apply in Cyprus. Loss of profit resulting from a fall in demand is countered by putting up prices. Something called "the elasticity of supply and demand" seems to have escaped those who wish to sell property in Cyprus.

I completely agree. One example, on my last visit to the island ( to Kyrenia), was towards the end of the tourist season when holidaymakers were becoming few on the ground.
So what did cafes do?
Reduce prices to encourage the tourists into their establishments and make some profit albeit not as much as normal? No, that would have been too sensible.

Instead the approach was to raise prices to ridiculously high levels. Not wanting to be ripped off the tourists stayed away muttering the likes of ' Do they think we are fools and we won't be coming back to this country again'
Results
(i) near empty cafes and negligible profits.
(ii) reduced tourist numbers in the future

Will the cafe proprietors have learnt their lessons?
We know the answer.

And here is the real reason you set up such an absurd non-entity of a "topical" thread... You just had to find a ruse to get the word "country" in about some tourist (clearly foolish) visiting the Turkish occupied territories.

[Mr. T]

Please accept my apologies. I hadn't realised your complete lack of comprehension of economics.

Thanks though for the compliment inferring that I am psychic and that I knew when posting a very relevant thread to today's world economy that Jerry would add the comments he/she did. You stupid women.

You really are an idiot who thinks we are all consumed with the hatred that you obviously are. Very sad.

[Mr. T]

Both sides of Cyprus are suffering from both a property slump and a drop in tourism.

Surely you’re not comparing the 100 odd dodgy tourists that opt for the illegal Turkish military base (some of which are most likely looking for a refuge from their persecutors), to the literally millions that arrive in Cyprus every year?

Sums are not your strong point then.

A sample of visitors in 2008

UK 327,213
Germany 65,000+
Greece 53,080

The gap is narrowing

[Jerry]

Please accept my apologies. I hadn't realised your complete lack of comprehension of economics.

Thanks though for the compliment inferring that I am psychic and that I knew when posting a very relevant thread to today's world economy that Jerry would add the comments he/she did. You stupid women.

You really are an idiot who thinks we are all consumed with the hatred that you obviously are. Very sad.

Thanks for responding to my post Mr T. Obviously great minds think alike, . No doubt your psychic powers will help you understand the less obvious, but nevertheless relevant, meaning of this response.

BTW I'm a he.