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WHY BUY PROPERTY IN CYPRUS?

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WHY BUY PROPERTY IN CYPRUS?

Postby fanourıo » Fri Mar 09, 2007 1:03 pm

One of many ads:
Tala Paphos, 3 Bedroom Apartments


Key Features Parking Terrace Balcony Sea View Mountain View DescriptionSituated on a luxurious new development due to be completed in November 2005. This 2/3 bedroom penthouse apartment is one of the most unique in the area.The apartment will have provisions for a hot tub on the roof terrace with stunning views of the Mediterranean sea. A truly unique opportunity to buy a unique luxury apartment in the hills of Tala overlooking Paphos.Country: Cyprus City: Tala, Paphos Type: Apartment Age: Off Plan Bedrooms: 3 Amenities Communal Pool Near to Golf Course Near to Beach Communal Garden Close to Bars/Restaurants Price170,000 EUROS (£119,709 GBP)


Property Details:


* Property: Apartments
* Year built: 2005
* Price in GBP: 120,000
* Bedrooms: 3
* Baths: 2


question: WHAT WILL BE THE PRICE OF THIS PROPERTY IS CYPRUS FINALLY IS UNIFIED?
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Postby Sotos » Fri Mar 09, 2007 1:35 pm

It depends on how it will be unified. If like Annan plan then everybody will be running out of Cyprus to save themselves and it will worth nothing! But we are not stupid so that will not happen ;) But a good solution will develop such dynamics that will bring a lot more investments and potential to Cyprus that property prices will probably go higher again.
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Postby GAVCARoCOM » Fri Mar 09, 2007 3:08 pm

Doesnt matter how the solition it will be i think price will go down in Paphos because of Kyrenia and famagusta is a lot better then paphos. I beleive price it will be £70.000(English Sterling) . And already prices going down in south
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Postby askimwos » Fri Mar 09, 2007 3:21 pm

What is it fanos? Do you have properties in Paphos and you started worrying that they will lose their current value in case of a solution?

What are you up to mate?
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Postby Svetlana » Fri Mar 09, 2007 3:26 pm

Hi Gavcarcom

I see a lot of property sales in Paphos and I have never heard of anyone selling at a loss. People do not always make as much profit as they would like and have to reduce unrealistic prices but demand remains strong. The advent of the Euro will lift prices here.

Lana
Last edited by Svetlana on Fri Mar 09, 2007 3:32 pm, edited 1 time in total.
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Postby twinkle » Fri Mar 09, 2007 3:27 pm

I heard they finally stopped building in Kyrenia?? The developments in the occupied areas are like a concrete nightmare. People want space. Not to be crammed pillar to post!
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Postby fanourıo » Fri Mar 09, 2007 3:32 pm

I do not have property anywhere but Tassos has 10 million CYP worth of properties in Limassol which will not worth anything after Famagusta or Kyrenia are free fr new investents!
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Postby Svetlana » Fri Mar 09, 2007 3:44 pm

While Kyrenia and many other locations in the north are much prettier, it is the lack of infrastructure that will deter an abundance of buyers. An example; on Christmas Day 2006, when many 'resident foreign' families were celebrating Christmas with traditional Christmas Lunches, the Electricity Authorites decided it was a great day to turn off the power to several locations, for routine maintenance. Now I appreciate that it is not a Christian country, but the Authorities must have realised the disruption they would cause to many people who had invested large suns of money in the north, by buying property there.

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Postby fanourıo » Fri Mar 09, 2007 3:55 pm

TWO LARGE generators wer installed so no electricity problem anymore...
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Postby Svetlana » Fri Mar 09, 2007 5:05 pm

Hi Fanou

I undertsand that four new generators are to be installed (in Tekecik?), but the first will not be up and running before April.

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