Cyprus-Forum.com

[GreekIslandGirl]

Erm ... I am having some indications that people are putting their money in property (since it's no longer safe in banks) and this is starting to cause another property price boom. My (foreign) friend has just informed me that 3 reasonable offers he put in for different properties have all been turned down.

What with Brits realizing the Euro is going up, and they can get more for their money by hanging on, and Russians/others burying cash in bricks/stone ... does this signal another property boom for the beleaguered nation of Cyprus?

(Doesn't affect me by the way; neither buying nor selling - but good luck to the RoC if it can outwit the troika and survive! )

[appel]

People don't want cash, because where to they store it? People want to put cash into concrete investment.

Exactly the same thing happened in Iceland when people were worried about the money in the banks, they bought real estate.

Don't worry, it's just a minor spike that will dissipate in a month, and won't affect prices.

[johnny1]

if anyone is selling a house cheap cheap...let me know

[Get Real!]

if anyone is selling a house cheap cheap...let me know

You can have mine for 1m down from 1.5. Now that is dirt cheap!

[Paphitis]

Love property!

Some really good deals going in Greece ATM. Buyers market for sure.

Question I am asking is why Greece when there are deals in Italy. Showed my daughter some snaps if the Portofino Coast and she made me promise her a Pink House (one if those rustic terra cotta jobs) and I MUST remain true to my word because that is the legacy I leave behind when I am long gone.

She is such a cutie and a real fem and affectionate little princess.

Italian lessons next. I figure she might as well learn something useful as Italian, German or French rather than useless Greek.

Would have her learn Mandarin but not an attractive sounding tongue.

Pink House for crying out loud! What a Bella!

[cyprusgrump]

Erm ... I am having some indications that people are putting their money in property (since it's no longer safe in banks) and this is starting to cause another property price boom. My (foreign) friend has just informed me that 3 reasonable offers he put in for different properties have all been turned down.

What with Brits realizing the Euro is going up, and they can get more for their money by hanging on, and Russians/others burying cash in bricks/stone ... does this signal another property boom for the beleaguered nation of Cyprus?

(Doesn't affect me by the way; neither buying nor selling - but good luck to the RoC if it can outwit the troika and survive! )

I have to wonder how people are getting the cash out of the banks they are worried about....? Given the capital controls...?

[Paphitis]

Erm ... I am having some indications that people are putting their money in property (since it's no longer safe in banks) and this is starting to cause another property price boom. My (foreign) friend has just informed me that 3 reasonable offers he put in for different properties have all been turned down.

What with Brits realizing the Euro is going up, and they can get more for their money by hanging on, and Russians/others burying cash in bricks/stone ... does this signal another property boom for the beleaguered nation of Cyprus?

(Doesn't affect me by the way; neither buying nor selling - but good luck to the RoC if it can outwit the troika and survive! )

I have to wonder how people are getting the cash out of the banks they are worried about....? Given the capital controls...?

Black Money economy? Tax Free money by cheating the system.

Well Cypriot Politicians have led by example when they evacuated their monies to Switzerland. Bless them.

[cyprusgrump]

Erm ... I am having some indications that people are putting their money in property (since it's no longer safe in banks) and this is starting to cause another property price boom. My (foreign) friend has just informed me that 3 reasonable offers he put in for different properties have all been turned down.

What with Brits realizing the Euro is going up, and they can get more for their money by hanging on, and Russians/others burying cash in bricks/stone ... does this signal another property boom for the beleaguered nation of Cyprus?

(Doesn't affect me by the way; neither buying nor selling - but good luck to the RoC if it can outwit the troika and survive! )

I have to wonder how people are getting the cash out of the banks they are worried about....? Given the capital controls...?

Black Money economy? Tax Free money by cheating the system.

Well Cypriot Politicians have led by example when they evacuated their monies to Switzerland. Bless them.

If it was black money they wouldn't be worried about the banks would they...?

I'm sure we all remember the boom in houses and Mercedes when Cyprus changed to the €uro and all the black money had to be spent!

[sven]

Erm ... I am having some indications that people are putting their money in property (since it's no longer safe in banks) and this is starting to cause another property price boom. My (foreign) friend has just informed me that 3 reasonable offers he put in for different properties have all been turned down.

What with Brits realizing the Euro is going up, and they can get more for their money by hanging on, and Russians/others burying cash in bricks/stone ... does this signal another property boom for the beleaguered nation of Cyprus?

(Doesn't affect me by the way; neither buying nor selling - but good luck to the RoC if it can outwit the troika and survive! )

I have to wonder how people are getting the cash out of the banks they are worried about....? Given the capital controls...?

Maybe it is Propaganda, I have talked to a removals firm, mainly dealing with Britons, who have had work cancelled coming from Britain to Cyprus and an increase in Quotes moving out of Cyprus. Mind you, with special privileges for the movement of money in Cyprus for the hierarchy, maybe it is true. If your looking for a bargain, it is too early, prices WILL drop further.

[Paphitis]

Erm ... I am having some indications that people are putting their money in property (since it's no longer safe in banks) and this is starting to cause another property price boom. My (foreign) friend has just informed me that 3 reasonable offers he put in for different properties have all been turned down.

What with Brits realizing the Euro is going up, and they can get more for their money by hanging on, and Russians/others burying cash in bricks/stone ... does this signal another property boom for the beleaguered nation of Cyprus?

(Doesn't affect me by the way; neither buying nor selling - but good luck to the RoC if it can outwit the troika and survive! )

I have to wonder how people are getting the cash out of the banks they are worried about....? Given the capital controls...?

Black Money economy? Tax Free money by cheating the system.

Well Cypriot Politicians have led by example when they evacuated their monies to Switzerland. Bless them.

If it was black money they wouldn't be worried about the banks would they...?

I'm sure we all remember the boom in houses and Mercedes when Cyprus changed to the €uro and all the black money had to be spent!

True! They would just keep it in their mattress and stuff their pillows.

So what is the point of this thread?

Maybe when buying properties they can pay via Bank Cheque. Does the limit still apply if that is the case or does it just apply when withdrawing cash from ATMs and from within a branch?