Cyprus-Forum.com

[Kikapu]

I was listening to KGO Talk Radio from San Francisco on the Internet today on this very subject regarding house prices and the economy in general, which was stated that, for the house prices to get back to where they were at the height of their inflated values before the bubble burst in the USA in 2008-9, it would be around 2030. I personally believe that could be an accurate estimation, given the fact the number of unemployed everywhere. What do you think about your neighbourhood's house prices future ?

Plummeting house prices fail to ignite sales
By Bejay Browne
Published on June 5, 2011

THE ASKING price for many properties in Paphos has plummeted by at least 25 per cent in the last 18 months, yet few are being sold apart from those regarded as “real bargains”, experts say.

The rental market is faring no better and industry professionals are divided over when the situation will improve.
Natalie Alexiou, who has been in the real estate business for 30 years, says she has never seen the market as depressed as it is now, with prices falling by so much and so swiftly.

“A villa which would have previously sold for 450,000 euros is now going for 300,000, and an apartment priced at 125,000 euros is now selling for 80,000,” she said. “And this has all happened in the last year-and-a-half.”

http://www.cyprus-mail.com/cyprus/plumm ... s/20110605

[CBBB]

As I don't expect to be buying or selling, which is the case with the majority of home-owners in Cyprus, the property prices are irrelevant.

[EricSeans]

Like the Wabbit, I have no plans to sell in Cyprus but given my place is in the north it's hard to value it. All I can be sure of is it's pre-74 British title, which sets it apart from most others, including other pre-74s with PTP refusal from the Turkish barmy and those with PTP who can only sell to TCs.

As for UK, totally different as Scottish prices have largely held/risen while English ones slumped, so after valuation I was able to take a cheap loan out for a deposit on more property by adding it to an existing mortgage as "home improvements". So very much a case of where you is and watcha got.

[CrookedRiverGuy]

When everybody has been crying depression/recession for 3 years, it's difficult to believe in anything but the sad news. But after rain, there will be sunshine. What surpriced me more than anything 15-20 years ago was how extremely quick the mood change came, from extremely pessimistic to just as optimistic. 20 years till it reaches where we were? No way, in twenty years we will probably already have experienced a wave up and down again - or even two.