Cyprus-Forum.com

[robgod]

how is the cyp property market coping in the recession. im a bit worried at the moment as i bought a small rental place at the height of the market and am concerned that im going to way out of pocket.
anyone have any ideas if the property recovery in paphos will happen soon? if not could anyone guess when

[suegwyn]

My guess is that the property recovery in Paphos will happen in the medium term, but then again it could happen in the short term or even possibly in the long

You wanted a guess

[Z4]

IMHO property in Paphos was vastly overpriced in the first place and there a going to be quite a few people who will be in the same position. Things will iron out and in 5 or 10 years so you just need to keep tight and ride the storm. The short term future may not look to good though..

[CBBB]

Considering the glut of properties in Paphos, prices at last years levels are unlikely to be seen for a long time. However there is an approximately 30% advantage when you convert the Euro price into sterling, so even if you sell with a 25% reduction in the Euro price, you can still make a sterling profit (unless you are still paying for it).

[Z4]

Don't you just love these questions CBBBBBBB? People asking us to predict the future!

[dplees9]

http://www.axiafx.com/newsarticle.asp?article=2239

Prices will be on their way up again by 2012

[purdey]

The question to give you the answer is, who is buying at the moment ?
the ex pat market is dead, the tourist buyer market is dead (UK buyers), and the Russians rarely buy outside of Limassol.
Again commercial market is ok, villa and apartment market is static. If people are advertising their property on Ebay something is up.

[dplees9]

The problem is the world recession. However, once that is over people will want to buy in cyprus again. The predictions are that the economy will start to improve next year, I guess from then on the prices will stabilise and start to move up again

[purdey]

World recession, how long does it last. UK recession same question, some say a decade.When it's over do people spend heavilly again or do they become cautious, once burnt twice shy scenario.
All guesswork, in the meantime Cyprus is looking elsewear for money, Iran, China, Russia. Have they limitless amounts of money ? I wish I was an Oracle I could make millions, maybe ?
As for buying in Cyprus, the British (biggest market) have had their day, they will be looking at cheaper places, if there are any.

[Kikapu]

World recession, how long does it last. UK recession same question, some say a decade.When it's over do people spend heavilly again or do they become cautious, once burnt twice shy scenario.
All guesswork, in the meantime Cyprus is looking elsewear for money, Iran, China, Russia. Have they limitless amounts of money ? I wish I was an Oracle I could make millions, maybe ?
As for buying in Cyprus, the British (biggest market) have had their day, they will be looking at cheaper places, if there are any.

Most probably in Egypt (Sharm El Shiek), Purdey. They got the sun and the warm clear waters to swim and it is very economical to live there, as long as you don't mind negotiating (bargaining) all day long for everything..!