Just who do you think you are going to sell to, Gina ?. It's a buyers' market.

The idea of buying and reselling before you have to make a single payment is all very well but in reality it rarely happens that way.
Too many unscrupulous developers are promisning people this sort of thing but the market is stagnant and properties are taking much longer to sell than in the past.
We have a website selling properties mainly in the Paphos area and most resales on our books are on many other websites but are just not selling.
Unless you are in a position to wait for a long time for any returns do not risk getting into something you may not be able to get out easily.
This is still a great place to live in and anyone looking for a home in the South cant go wrong, but in the present economic climate the time is not right for investment.
As I said I sell properties here so its is actually not in my interest to talk people out of buying here, but my main concern is to save people making expensive mistakes.

Well said, Pippin.

If looking to buy for personal use then it may be worth taking advantage of the market and negotiating hard on a resale. Tough on the sellers but the market goes in cycles. Currently, Cyprus is not a place to 'invest' in property. Any talk of rents covering mortgages and capital growth belong on 'Jackanory'.

I have to agree with Pippin - the days of buying and flipping in Cyprus are long gone.

The market's slowed down here considerably. I was reading a local newspaper report a few days ago that was talking about one developer in Paralimni. During the first 3 months of 2008 he sold 10 properties, compared to 52 during the same period in 2007.

If you're looking to buy a permanent home, that's fine. But if you're looking at the buy-to-let/jet-to-let market - forget it - too many properties chasing too few holiday makers.

And Gina - find somewhere more sensible to invest your money - somewhere where you'll make a decent return.

Cheers,

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Nigel Howarth
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Ask your property questions on my forum at: http://www.cyprus-property-buyers.com/forum/
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I too was talking to a small independent developer a few days ago. He used to sell 2 properties per month on average, so far this year he has sold 2 properties in 4 months.
My livelihood depends on people buying property but i will not tell anyone the lies that many of the less scrupulous developers and agents still insit on telling people. As i have already said, if you are looking to buy a home Cyprus is still a great place, but if you are looking for invesment wait until the market takes an upturn again. Although I doubt that will be for some time.

ONLY BUY PRE 74 TURKISH TITLE DEED LAND !!! 100% recognised by turkish and greek sides ! ITS AS SIMPLE AS THAT !!

The Overseas property market has definitely slowed down, which is just a kbnock on effect of the economy elsewhere in the Western world

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“In a real estate man's eye, the most expensive part of the city is where he has a house to sell” - Will Rogers

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