Cyprus-Forum.com

[paliometoxo]

so am i lol im going to join now and whenever ur on ur on

[Hazza]

It seems that property developers in Cyprus are to suffer from the global slowdown. How many people feel sorry for them?

I have no sympathy - for years they have been ripping people off, building homes without legal plannig permission and holding onto Title Deeds after buyers have paid in full.

The slowdown is nothing to do with the economic slowdown is it? It's because UK & Irish buyers have got wise and won't buy homes in Cyprus anymore.

It's now common knowlegde in the UK that buying in Cyprus is like flushing your life savings down the toilet. No one is that stupid,

The Cyprus Government will have to take robust action if its economy is going to recover from the global recession. After all, the construction industry is an economic barometer of how a nation is fairing.

The US housing market is showing signs of recovery but Cyprus never will unless buyers are protected.

Bought a brand new 2 bed appartment in January 2007. Got a mortgate from the bank in order to pay for it. 18months later, I got my title deeds. So far, I'm happy with my investment.

If others were stupid enough to not do any research on the property they were to buy, the developer that was to build the property, see a solicitor.....then they have no cause for complain if they get bitten on the bum.

[purdey]

Spot on, right on, tough titty to those who are willing to cut corners for a quick buck.

[Get Real!]

Spot on, right on, tough titty to those who are willing to cut corners for a quick buck.

I thought tits come in pairs!

[DANGAMAN]

It seems that property developers in Cyprus are to suffer from the global slowdown. How many people feel sorry for them?

I have no sympathy - for years they have been ripping people off, building homes without legal plannig permission and holding onto Title Deeds after buyers have paid in full.

The slowdown is nothing to do with the economic slowdown is it? It's because UK & Irish buyers have got wise and won't buy homes in Cyprus anymore.

It's now common knowlegde in the UK that buying in Cyprus is like flushing your life savings down the toilet. No one is that stupid,

The Cyprus Government will have to take robust action if its economy is going to recover from the global recession. After all, the construction industry is an economic barometer of how a nation is fairing.

The US housing market is showing signs of recovery but Cyprus never will unless buyers are protected.

Bought a brand new 2 bed appartment in January 2007. Got a mortgate from the bank in order to pay for it. 18months later, I got my title deeds. So far, I'm happy with my investment.

If others were stupid enough to not do any research on the property they were to buy, the developer that was to build the property, see a solicitor.....then they have no cause for complain if they get bitten on the bum.

Well said I bought a flat in Larnaca about a year ago, I have been told I have to wait another year to get the deeds.

Don't really care as I owe him money, when I get the deeds... He gets the money. Simple

[Milo]

Spot on, right on, tough titty to those who are willing to cut corners for a quick buck.

So as the locals themselves are caught in the same trap its tough titty to them too is it?

Buyers in the North deserve all you say BUT only them, in the South the other foriegners being attracted to the Island to buy probably won,t take it on the nose quite the same, Iranians and Russians tend to be much less trusting and much less tolerant when things go wrong. My Iranian in-laws are proof of this.

People who constantly say 'if you did,nt do research you deserve all you get' etc should change the record, and are probably one of the few lucky ones who dealt with honest people, the rest did,nt foresee dishonesty in the legal profession which where it really all stems back to and the money being stuffed into back pockets.

Title Deeds is becoming an issue more now as developers are going belly up and loans are not going to be paid. Its a sorry mess and nothing to joke about But hey its not happened to you so thats ok then!!

But when things like this come up on this Forum you all change the subject, don,t deal with it and talk amongst yourselves. The rest of us are a little more realistic.

[Z4]

I don't work for a developer, I don't have any connections to devlopers but not all of them are bad. You cant tarnish all of them with the same brush.

[purdey]

You are right Z4.
Milo, how many properties have been sold in the last decade ?
How many people have had a bad experience ?
I am sure the vast majority of purchases have gone through without a hitch and the buyer is very happy.

[Milo]

You are right Z4.
Milo, how many properties have been sold in the last decade ?
How many people have had a bad experience ?
I am sure the vast majority of purchases have gone through without a hitch and the buyer is very happy.

Over 90% of properties built and bought in the last decade do not have Deeds, as for bad experiences with Developers that have happened all over the island, I think 'vast majority' being happy is a head in the sand answer BUT as the vast majority don,t have their Deeds, problems might be just around the corner.

Some people seem to think there is a problem.

http://www.cyprus-property-action-group.net/updates.htm

[purdey]

With respect, I do not have my head in the sand. I can only speak from my experience and my families. I own with deeds two properties in Cyprus , my family own a further four. I have a good well respected Cypriot lawyer, the people I have bought from have been honourable sellers.
I hear so many differing stories, the majority seem to be sour grapes from people who have not seen a good return on their investment. I understand there is a problem with title deeds but buyers have a choice, buy now or wait, I prefer the latter and genrally get my deeds very quickly.