Quote:
Originally Posted by Nigel Howarth
They'll probably tell you that pigs can fly, if it helps them achieve a sale!
There is huge oversupply here at the moment - one advertising company has more than 20,000 properties on its books - that's more than a years supply.
You don't stand a cat in hells chance of covering your mortgage payments. And forget about selling it in 3 - 5 years time, remember there are 20,000 other people queueing in front of you waiting to sell.
Cheers,
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Many thanks for that. I have been speaking to an agency that are selling at the luxurious end in Larnaca. Presumably you would hold the same view. They are claiming that the oil situation, cheap flights to Cyprus, a strong economy and the offer of guaranteed rental income post the finishing of the build in 2010 would be sufficient to make it a good investment.
Do you have any comment on that please?
Marcos R