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Cyprus Property imminent Crash

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Cyprus Property imminent Crash

Postby miltiades » Tue Mar 01, 2022 1:18 pm

There is NO denying that the property market in Cyprus is aimed at foreign byers , Russians predominantly. Prices have almost overtaken those of most European countries. Rents of 10, 000 per month are common for an appartment. I can not see many Cypriots able to afford such high prices. Ok.assol is saturated with new " luxury" developments at sky high prices aimed at the very wealthy foreigners. I predict an imminent property crash as it might be some time before the Russian prospective purchasers arrive. I noticed recently a " villa" for rent in the Marina Limassol for 37, 000 euros per month. You will need at leadt 5 million to be able to afford this ludicrous price. I'm thinking of buying an appartment but my view is that by the end of this year's summer I shall be able to buy at half the price asked now.
Beware, you have been warned.
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Re: Cyprus Property imminent Crash

Postby Get Real! » Tue Mar 01, 2022 1:39 pm

Very plausible… but I don’t know how any further Russians will get here.

Unless the RoC starts issuing a kind of “golden” passport again with every property purchase, I can’t imagine Russians risking harassments with only a Russian passport.

The EU is acting like a total jerk targeting individuals in contravention of basic HRs while pointing the finger at others!

We’ve become total hypocritical Zionist trash on the planet with no self respect and no moral values whatsoever, and I fear that it’s not just the Russians that will abandon Europe. As of late every year is worse than the previous, in the EU.

This place is gonna get very ugly… if I were a wealthy Russian I’d go to Brazil or Argentina maybe instead.
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Re: Cyprus Property imminent Crash

Postby Lordo » Tue Mar 01, 2022 2:53 pm

miltiades wrote:There is NO denying that the property market in Cyprus is aimed at foreign byers , Russians predominantly. Prices have almost overtaken those of most European countries. Rents of 10, 000 per month are common for an appartment. I can not see many Cypriots able to afford such high prices. Ok.assol is saturated with new " luxury" developments at sky high prices aimed at the very wealthy foreigners. I predict an imminent property crash as it might be some time before the Russian prospective purchasers arrive. I noticed recently a " villa" for rent in the Marina Limassol for 37, 000 euros per month. You will need at leadt 5 million to be able to afford this ludicrous price. I'm thinking of buying an appartment but my view is that by the end of this year's summer I shall be able to buy at half the price asked now.
Beware, you have been warned.

Nothing of the kind. These properties are not for the local people, these are for very rich people from all over the world. They will continue to enjoy the connection within EU hence this level will not be affected. Local markets may collapse, that's another matter because these are two different worlds and have no connection.
Go get yourself an old Cypriot house in a village preferably walking distance from the sea, do it up and it will feel like a palace. Especially if it has an arched room as part of the property with the swimming pool in the yard.

Glass of wine on one side BBQ on the other and a sunbed in the middle, what more do you need?
Last edited by Lordo on Tue Mar 01, 2022 3:24 pm, edited 1 time in total.
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Re: Cyprus Property imminent Crash

Postby Londonrake » Tue Mar 01, 2022 3:07 pm

miltiades wrote:There is NO denying that the property market in Cyprus is aimed at foreign byers , Russians predominantly. Prices have almost overtaken those of most European countries. Rents of 10, 000 per month are common for an appartment. I can not see many Cypriots able to afford such high prices. Ok.assol is saturated with new " luxury" developments at sky high prices aimed at the very wealthy foreigners. I predict an imminent property crash as it might be some time before the Russian prospective purchasers arrive. I noticed recently a " villa" for rent in the Marina Limassol for 37, 000 euros per month. You will need at leadt 5 million to be able to afford this ludicrous price. I'm thinking of buying an appartment but my view is that by the end of this year's summer I shall be able to buy at half the price asked now.
Beware, you have been warned.


:roll: They could rent my place for half that.

I’ll move in with you. You obviously need someone to cheer you up and we have a mutual interest in (your :lol: ) fine wine. Perfect! :D
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Re: Cyprus Property imminent Crash

Postby Lordo » Tue Mar 01, 2022 3:34 pm

Londonrake wrote:
miltiades wrote:There is NO denying that the property market in Cyprus is aimed at foreign byers , Russians predominantly. Prices have almost overtaken those of most European countries. Rents of 10, 000 per month are common for an appartment. I can not see many Cypriots able to afford such high prices. Ok.assol is saturated with new " luxury" developments at sky high prices aimed at the very wealthy foreigners. I predict an imminent property crash as it might be some time before the Russian prospective purchasers arrive. I noticed recently a " villa" for rent in the Marina Limassol for 37, 000 euros per month. You will need at leadt 5 million to be able to afford this ludicrous price. I'm thinking of buying an appartment but my view is that by the end of this year's summer I shall be able to buy at half the price asked now.
Beware, you have been warned.


:roll: They could rent my place for half that.

I’ll move in with you. You obviously need someone to cheer you up and we have a mutual interest in (your :lol: ) fine wine. Perfect! :D

I am not so sure he would wish to share his wine with you though?
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Re: Cyprus Property imminent Crash

Postby miltiades » Tue Mar 01, 2022 4:01 pm

Lordo, you omitted the ...blonde with big knockers :lol:
Right now im counting my ....pennies to see if I shall have enough to get me an appartment in the autumn.
I have in mind a 3 bed appartment near by, the last I checked the price asked was 750,000.I offered 500, 000 they threw me out, I expect a call any time now :roll:
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Re: Cyprus Property imminent Crash

Postby Londonrake » Tue Mar 01, 2022 4:01 pm

Lordo wrote:
Londonrake wrote:
miltiades wrote:There is NO denying that the property market in Cyprus is aimed at foreign byers , Russians predominantly. Prices have almost overtaken those of most European countries. Rents of 10, 000 per month are common for an appartment. I can not see many Cypriots able to afford such high prices. Ok.assol is saturated with new " luxury" developments at sky high prices aimed at the very wealthy foreigners. I predict an imminent property crash as it might be some time before the Russian prospective purchasers arrive. I noticed recently a " villa" for rent in the Marina Limassol for 37, 000 euros per month. You will need at leadt 5 million to be able to afford this ludicrous price. I'm thinking of buying an appartment but my view is that by the end of this year's summer I shall be able to buy at half the price asked now.
Beware, you have been warned.


:roll: They could rent my place for half that.

I’ll move in with you. You obviously need someone to cheer you up and we have a mutual interest in (your :lol: ) fine wine. Perfect! :D

I am not so sure he would wish to share his wine with you though?



Well, when we last met, about 4 years ago, that definitely finished with it being his round. 8)
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Re: Cyprus Property imminent Crash

Postby miltiades » Tue Mar 01, 2022 4:04 pm

Let's arrange to meet again. :lol:
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Re: Cyprus Property imminent Crash

Postby Londonrake » Tue Mar 01, 2022 4:07 pm

miltiades wrote:Let's arrange to meet again. :lol:


2 meters? Masks? Drinking cabernet through sterilised straws. :lol:

When the weather warms up. In the same spot. You should have a few more “one that got away” fishing stories by then. :wink:
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Re: Cyprus Property imminent Crash

Postby Lordo » Tue Mar 01, 2022 4:12 pm

miltiades wrote:Lordo, you omitted the ...blonde with big knockers :lol:
Right now im counting my ....pennies to see if I shall have enough to get me an appartment in the autumn.
I have in mind a 3 bed appartment near by, the last I checked the price asked was 750,000.I offered 500, 000 they threw me out, I expect a call any time now :roll:

Forget about that. Go get a village house and do it up. They are better designed for the weather in Cyprus. The apartments are unhealthy. There is nothing like the smell of fresh air and manure from sheep droppings first thing in the morning to wake your senses up. Although sheep are no longer allowed in the village these days, you have to go out to the mandres for that.
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