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Cyprus Property Crash ?

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Postby sweetie pie » Thu May 17, 2007 7:12 pm

andri_cy wrote:and what is it that those countries have better, in a way that the cost of living in Cyprus should be lower than there? If UK was so cool the whole country of Britain wouldnt be trying to move to Cyprus. Cyprus is like Florida in the US. awsome climate good people.
If people dont like the way things are in Cyprus maybe they should stay in their countries. Otherwise stay in Cyprus and stop whining. The reason prices are like that, is because everyone decided that it is a nice place to live and they are moving there, then when prices go up cause of demand they just whine. People on here sometimes sound like all the immigrants that migrate to the US. They go to the US and then whine about the laws and the people and life. No one is making anyone be there. People choose to go there. If you make your bed you need to lie in it and stop talking about how bad things are. You have a choice, no?


The point is there is not the demand. Huge swathes of half built houses and hundreds of apartments to let says there is not the demand. You cannot have it both ways. Sense and reason seem to be missing.

People who move to Cyprus and support their economy with pensions and capital earned in the UK have the right to whine when they are being ripped off. The Cypriots themselves say they cannot afford the over inflated prices for property!!
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Postby simonwjones » Fri May 18, 2007 8:04 pm

These so called crashes don't really happen. When prices don't rise like they have been doing people jump and then worry about a property crash. Intime, the prices always go one way - thats up!!!
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crash

Postby Avanapa » Fri May 18, 2007 11:06 pm

Well said simon, a bit of common sense. Its amazing how some folks never learn from experience. I know a guy who bought in spain in the 80,s for 100,00 Eur, in the 90,s during a so called crash, price stuck at 100,00 eur. now valued at 250,000eur. the only reason to worry is if your flipping and hoping for quick profit.
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Re: crash

Postby simonwjones » Fri May 18, 2007 11:28 pm

Avanapa wrote:Well said simon, a bit of common sense. Its amazing how some folks never learn from experience. I know a guy who bought in spain in the 80,s for 100,00 Eur, in the 90,s during a so called crash, price stuck at 100,00 eur. now valued at 250,000eur. the only reason to worry is if your flipping and hoping for quick profit.


Too right. You never hear about people loosing £thousands in property do you?

Cyprus, when moving over to Euro will increase in price thats for sure
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Re: crash

Postby cyprusgrump » Sat May 19, 2007 1:41 pm

simonwjones wrote:
Avanapa wrote:Well said simon, a bit of common sense. Its amazing how some folks never learn from experience. I know a guy who bought in spain in the 80,s for 100,00 Eur, in the 90,s during a so called crash, price stuck at 100,00 eur. now valued at 250,000eur. the only reason to worry is if your flipping and hoping for quick profit.


Too right. You never hear about people loosing £thousands in property do you?

Cyprus, when moving over to Euro will increase in price thats for sure

Tell that to the people that lost everything on property in 1990.
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Postby nigeyboy » Sat May 19, 2007 2:24 pm

Hold on to it long enough & you're quids in. Even still, it's not all about making money is it, it's about enjoying a good lifestyle. As long as you can afford to live in it who cares what it's worth. The values are only important for those that care about the "My house(s) are worth more than yours" talk around the dinner table. And they're just sad muppets !
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Postby Southerner » Tue May 22, 2007 12:54 am

sweetie pie wrote:
andri_cy wrote:?

The point is there is not the demand. Huge swathes of half built houses and hundreds of apartments to let says there is not the demand. You cannot have it both ways. Sense and reason seem to be missing.

People who move to Cyprus and support their economy with pensions and capital earned in the UK have the right to whine when they are being ripped off. The Cypriots themselves say they cannot afford the over inflated prices for property!!
Too True.
While the prices stay high people are house shopping elsewhere, Bulgaria, Turkey, Romania etc.
I've visited Cyprus regularly over the last 9 years, I was there in the 60s with HM Forces and hope to move to Cyprus soon, there is more property available to either rent or buy at this moment than ever before.
There has also been a decline in tourist numberes in recent years so what does it all tell you.
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Postby simonwjones » Mon May 28, 2007 3:43 pm

Southerner wrote:
sweetie pie wrote:
andri_cy wrote:?

The point is there is not the demand. Huge swathes of half built houses and hundreds of apartments to let says there is not the demand. You cannot have it both ways. Sense and reason seem to be missing.

People who move to Cyprus and support their economy with pensions and capital earned in the UK have the right to whine when they are being ripped off. The Cypriots themselves say they cannot afford the over inflated prices for property!!
Too True.
While the prices stay high people are house shopping elsewhere, Bulgaria, Turkey, Romania etc.
I've visited Cyprus regularly over the last 9 years, I was there in the 60s with HM Forces and hope to move to Cyprus soon, there is more property available to either rent or buy at this moment than ever before.
There has also been a decline in tourist numberes in recent years so what does it all tell you.


Hi

Have you ever been to Bulgaria, Turkey or Romania?

These places are not as established as Cyprus. You have to think about other things when buying such as what are the roads like, what are hospitals like and how frequent are the flights etc. ......

I have been to Bulgaria and Turkey and the roads in Bulgaria are scary. The road from Sunny Beach up the coast towards Varna are awful, and they are supposed to be there main roads.

I expect the same in Romania.
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Postby Clive » Mon May 28, 2007 5:13 pm

But its about getting in quick whilst prices are low. Infrastructure will improve - it takes time. Bulgaria is a great place to buy. Great people, low cost of living, cheaper flights to/from UK; great geographical location
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Postby Southerner » Mon May 28, 2007 5:53 pm

[/quote] Hi
Have you ever been to Bulgaria, Turkey or Romania?

These places are not as established as Cyprus. You have to think about other things when buying such as what are the roads like, what are hospitals like and how frequent are the flights etc. ......

I have been to Bulgaria and Turkey and the roads in Bulgaria are scary. The road from Sunny Beach up the coast towards Varna are awful, and they are supposed to be there main roads.

I expect the same in Romania. [/quote]


I've visited various parts of Turkey and driven several times specificly to look at property, there is a booming house market.
In two of the three countries that you have mentioned due to EEC entry things will only get better. I also hope that Turkey is kept out of the EEC.
I dont think that there will be much of a price crash, what I have found is the Cyprus tends to shadow the UK market where things are not as bouisterous as three years ago, throwing up houses left right and centre to beat Vat didn't help either I think that it was rather naive of the developers whose only answer these days seems is to throw up appartment blocks everywhere to provide less expensive properties.
But, who am I to grumble it makes my prospects better as I hope to move to Cyprus within the near future.
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