Cyprus-Forum.com

by **Lordo** » Wed Apr 06, 2022 8:20 pm

There is plenty of fools with more money than sense al over the world. There will never be a shortage of stupid

by **Maximus** » Wed Apr 06, 2022 9:15 pm

miltiades wrote:What determines the price is and always has been, Supply and Demand. Right now the property market is saturated . Demand has been greatly reduced. The property market had all its eggs in the same basket. Now the Russians aren't likely to be coming here for some time to come. Developers focused on foreign byers hence the hike in prices almost matching those of.major European markets. Naturally teal estate agents are talking the prices up, it won't happen. Furthermore most developers are heavily in debt, banks will begin to get hot under the collar soon.

Did you read the article LR posted Milti?

Here are the highlights.

> sales hit 14 year high, 52% more sales compared to same quarter last year.

This doesnt mean the market is saturated, it means there is a lot more demand.

>property sales to foreigners only accounts for about a third of property sales and most of those are EU nationals. The property market only had a few eggs in the "Russian" basket.

Where are developers heavily in debt? show me some proof please and what does that have to do with anything? I will tell you, if they go bankrupt due to being heavily in debt, there will be less property being built which means less supply. :roll:

by **Maximus** » Wed Apr 06, 2022 9:30 pm

Extra points will be awarded with a little blue star to anyone who can tell me why property sales are increasing and making 14 year highs...

by **repulsewarrior** » Wed Apr 06, 2022 11:33 pm

Maximus wrote:Extra points will be awarded with a little blue star to anyone who can tell me why property sales are increasing and making 14 year highs...

...buyers from Lebanon; Beirut?

by **Maximus** » Thu Apr 07, 2022 12:19 am

repulsewarrior wrote:
Maximus wrote:Extra points will be awarded with a little blue star to anyone who can tell me why property sales are increasing and making 14 year highs...

...buyers from Lebanon; Beirut?

Probably not, try again.

by **repulsewarrior** » Thu Apr 07, 2022 12:40 am

...because house prices were actually depressed by the financial crash, and now Cyprus has recovered?

by **Maximus** » Thu Apr 07, 2022 12:48 am

Yeah, I can accept that.

You get a blue star rw...

by **repulsewarrior** » Thu Apr 07, 2022 1:00 am

lol, i didn't think it would be that easy.

by **miltiades** » Thu Apr 07, 2022 4:49 am

Let us see what develops in around 7 months. I used to think that if one had one million euros was wealthy. Not so sure now looking at prices approaching those of Monte Carlo. As for rents, 25 thousand per month for a "luxury " villa isn't aimed for the local market. Towards the end of 2020 I sold an appartment, since I want a different area, I have been watching the market and I'm sitting tight. Prices have spiralled out of control because of the Russian market. My fellow Cypriots, if you have dosh in your bank do be careful, Cyprus banks are in for a tough time. Having seen the 2013 haircut Im not the least confident with the Cyprus banking system.