Cyprus Property Prices

RRV8

GCM
Interesting thread.

To be honest I’m surprised so many people actually like Cyprus and would consider upping sticks to live there.

I thought the place was a ******* shit hole.

There are a million places in the med I’d choose over Cyprus.

You make a bloody good point in all honesty and IMO the good bit is on the far west side only - but that's just me.

That being said, I have to be honest and say the whole ongoing Turkish political piece does not look good for the Cypriot side.

I need someone in the know to correct me here but from what I read on a daily basis it could end in disaster for the Cypriot side if Turkey starts flexing its muscles.
 
Italy
Spain
Portugal
Any of the Spanish Islands
South of France
Croatia
Mainland Greece
Corsica
Sardinia
Any of the other Greek Islands for that matter

etc etc.
That's basically a million. Oh did I mention I was a cheap, out of work, accountant?
 

Ravers

LE
Kit Reviewer
Book Reviewer
That's basically a million. Oh did I mention I was a cheap, out of work, accountant?

If you divide the coastlines of all those places into 1,000,000 equally sized parcels, I think you’ll find that I am correct and you are a toilet.
 
I`ve already spent many years in France/Spain , next choices would be ...

  1. NZ
  2. Finland / Scandinavia
  3. Greek Island - If I could have a boat
  4. France again for ferry/drive to convenience
  5. Switzerland ...only if I had deeper pockets.
No where else comes to mind.
 

Ravers

LE
Kit Reviewer
Book Reviewer
I`ve already spent many years in France/Spain , next choices would be ...

  1. NZ
  2. Finland / Scandinavia
  3. Greek Island - If I could have a boat
  4. France again for ferry/drive to convenience
  5. Switzerland ...only if I had deeper pockets.
No where else comes to mind.

I‘d happily live in Japan.

The boat idea is certainly appealing. I saw an old but perfectly useable catamaran on eBay a few years back, with a permanent mooring on a buoy (I.e. not in a marina) in one of the quieter bits of Ibiza.

It went for 12 grand.

Food for thought.
 
Is Cyprus the place you both really want to be from reading all the above cons but not many pros?
If it is climate and lifestyle you are after have you considered Portugal at all?
Currently offering your first 10 years of residence tax-free for meeting certain (very loose) rules on your pension income.
An awful lot of French and other European ex-pats there (and the Maghreb) for that very reason.
Just a thought..........
 
Your whole post is very valid but an 8-month sales period in Cyprus seems currently to be at the good end of the sales spectrum, with some even going back to 2016 for routine sales.

What we did find when searching the on-line sales adds in Cyprus is that we should be using the web platforms such as Rightmove which often give a date stamp of when the property was first marketed (or when it was marketed by that particular agent).

In one example we saw a house in a street for sale and when we hit the search button to find its price, via the dealers board and web page, we found the price to be €460,000 which was massively outside our budget so we just walked away.

But when I began searching Rightmove that night for the same property I found three different entries:

1. €460,000 - advertised in 2017.
2. €420,000 - advertised in 2018.
3. €375,000 - advertised in June 2019.

The Sales board at the house referred to the first agent so it pays to do as much research as possible and on as many platforms as possible too.
Watch out for the local and euro market.

Looking to move to Portugal in 2011 , in 2012 prices went down , at least 25%.

Moving there in 2019 it’s up 35% minimum .
 

GrandadsMOB

War Hero
Guys, we've been looking at the 'rental-versus-purchase' options as we want to make the best financial decision possible.......

As a rough estimate we're looking at an annual cost of about €18,000 to €20,000 for a villa, with a pool, in a reasonable location.
Try NORTH Cyprus (but ONLY for rental).

Same villa and pool may cost in the region of £500-£600pm. And, with rental, if things don't work out or $hit starts to happen then you can F-offski at the high port with only your removal expenses to worry about (but most property is rented furnished).

Cost of living is minmal compared to many other places.

If you currently have a house elsewhere, rent that out and live there for half/one third of the rate you're getting and trouser the rest. If you really want to sell your old place then deposit the money somewhere with a decent rate of interest and rent using that.
 

RRV8

GCM
Watch out for the local and euro market.

Looking to move to Portugal in 2011 , in 2012 prices went down , at least 25%.

Moving there in 2019 it’s up 35% minimum .

That's a good point you make. I'm keeping an eye on the Cyrpus property market every day and there's nothing shifting apart from the small flats, sub €130K.

Perhaps I'm just a bit too risk adverse for my own good but the missus and I seem to be close to canning the whole Cyprus idea for now.

I keep reading about Cyrpus in the daily press and it's not looking favourable in terms of it being a suitable place where your house investment is safe.

We may just stay in the UK and find a nice little place in the country with a few occasional holidays.

Having said that, we'll probably visit Spain in the NY and have a look around to see what it has to offer.
 

RRV8

GCM
Try NORTH Cyprus (but ONLY for rental).

Same villa and pool may cost in the region of £500-£600pm. And, with rental, if things don't work out or $hit starts to happen then you can F-offski at the high port with only your removal expenses to worry about (but most property is rented furnished).

Cost of living is minmal compared to many other places.

If you currently have a house elsewhere, rent that out and live there for half/one third of the rate you're getting and trouser the rest. If you really want to sell your old place then deposit the money somewhere with a decent rate of interest and rent using that.

Good post sir.

I've never considered the North but I'll certainly look into the various options

Thanks again,

R
 
That's a good point you make. I'm keeping an eye on the Cyrpus property market every day and there's nothing shifting apart from the small flats, sub €130K.

Perhaps I'm just a bit too risk adverse for my own good but the missus and I seem to be close to canning the whole Cyprus idea for now.

I keep reading about Cyrpus in the daily press and it's not looking favourable in terms of it being a suitable place where your house investment is safe.

We may just stay in the UK and find a nice little place in the country with a few occasional holidays.

Having said that, we'll probably visit Spain in the NY and have a look around to see what it has to offer.
That's the key thing about relocating to Cyprus as I see it, buying property in Cyprus isn't an investment as if you can eventually sell it you are unlikely to make a profit.
 

RRV8

GCM
An excellent place to start your research is kibkomnorthcyprusforum.com/

There's a lot of useless stuff on there (unless you're living in Nth Cyprus!) but also loads of information on moving/buying property/caveats etc. etc.

G'luck!

My apologies for such a slow response but I think we've fully discounted the North of Cyprus albeit your link proved to be a very useful tool for research and contacts etc.

All the best,

R
 

RRV8

GCM
Team,

A Happy New Year to you all.

I think the missus and I have finally put Cyprus on hold for at least 6-months until we can evaluate just what's happening with the country and the house market.

There is just to many political, financial, judicial, corruption-style issues for my wee brain to process at the moment and, while I like the area I just think that having an ever deteriating security situation on the doorstep is not the best for my family.

If anything changes with our plans then I'll be sure to post them up.
 
Cyprus, as much as I love the place in so many ways, is playing a dangerous game with Russian/Chinese influence and more ominously, the ongoing plans for offshore gas projects (impacting upon Turkey). This ill concieved thinking will not end well for Cyprus, no matter what people might tell you.
 
Saw this which explained the Cyprus Title Deeds b0ll0x a bit better for me:

 
Good post sir.

I've never considered the North but I'll certainly look into the various options

Thanks again,

R
My mothers place is on Kryenia - it 'was' quiet about 5 years back. Like others have said - Rent one. She rents her out long term.
 
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