Dear Grumpy,


I am not negative about Cyprus I am realistic assessing the local property market based on multiple feedback from people living in Cyprus trying to sell theire Villas and apartments and I live there. Greek Cyprus property prices are now expensive and have caught up with Spain. Resale market is dead. It takes 2 years + to sell a Villa or apartment because there are just not the number of holidaymakers ( going down every year since 2001!!) coming to Greek Cyprus because it is now expensive to eat out ( CY£15 per head +) etc. A friend stopped in the Venus beach hotel in Paphos and was charged CY£3.5 for a pint!! Add to that the cost of getting to/from Cyprus which is a minimum of £300 in the season so it is just not economical for a family of say 4 to holiday in Cyprus. Since Greek Cyprus joined the EU in 2004 the cost of living has shot through the roof. It will take some years before Cyprus property market starts moving again....if ever.

Sorry if my opinion is not inline with your thinking but the bottom line is: If you are investing in property in Greek Cyprus for capital appreciation or to rent out to holiday makers you will take a hit. Its your money so ignore this advice if you think differently.