'Britons face big losses as prices tumble'

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
10/01/2011 13:22

Cyprus Property News Magazine article 9-1-11



http://www.news.cyprus-property-buyers.com/2011/01/09/britons-face-big-losses-as-prices-tumble

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
10/01/2011 13:27

Could this mean less members of the "Happy Club"



I'm not a member of either the Happy or Unhappy club..........Before you all start....

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
10/01/2011 13:31

I will always be in the "Happy Club" as you put it as I did not buy for investment.

spider


Joined: 03/01/2009
Posts: 5527

Message Posted:
10/01/2011 13:32

Have you seen the prices they are asking over south, outrageous.









Spider,X

tonyf


Joined: 29/03/2009
Posts: 153

Message Posted:
10/01/2011 13:35

When was property a good investment? Up and down light a wh.... draws. Worldwide

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
10/01/2011 13:44

msg3 Thank the Lord nor did I....

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
10/01/2011 13:59

msg5"When was property a good investment"



That depends entirely on where the property was.....Some people did very well

ruggy


Joined: 02/05/2009
Posts: 757

Message Posted:
10/01/2011 14:29

i MUST SAY THAT ARTICLE LOOKS LIKE IT'S AIMED AT THE SOUTH SIDE MARKET, SO DOES NOT REALLY MEAN OWT HERE.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/01/2011 14:39

In truth most people in TRNC buy for quality of life issues rather than financial gain. It would be difficult and perhaps naive to see property in the North as a good investment due to the islands uncertain future, lack of tourism and the ongoing land dispute.



One only has to visit the many Estate Agent sites in the TRNC to see that it is difficult to sell property and that prices are tumbling.



Ruggy,



The North often mirrors the South so it will have a bearing.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
10/01/2011 17:55

the Russians around me don't seem to be taking any notice of dropping prices and are paying, what I would consider, high prices. Mustn't grumble.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
10/01/2011 18:59

malsancak

Hope they wont need the Russian version of the HBPG or Cyprus44 forum.

Jonesy299


Joined: 07/02/2009
Posts: 367

Message Posted:
10/01/2011 19:28

Neighbouring properties have sold recently for more than paid a few years ago. If you bought wisely and you have a property that looks great in a super location then it will always sell - I personally have no intention to sell my home so not bothered if prices are up or down (I'm in the 'Happy' camp)

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
10/01/2011 20:35

It depends when you bought. 6 or 7 years ago you could buy a high spec 3 bedroom villa for £60000 and a 2 bed apartment for £25000. Those are the properties that will make the gains.

AJ

Denny


Joined: 09/12/2010
Posts: 261

Message Posted:
10/01/2011 21:22

Having bought nearly 10 years ago I'm with Jonesy on this. I looked at the long term and got a huge place cheaply on pre-74 that needed done up. At the time many people were looking for villas with swimming pools and now sadly so many of them have been conned. There must be hundreds if not thousands of folk who don't know what to do and are getting zero guidance or advice from the authorities.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
10/01/2011 21:35

Property prices have fallen all over the world so Cyprus is not unique in this respect.



I didn't buy in the TRNC to make a windfall profit.....I bought it to enjoy holidays in the sun.

I would have been happy if my propertymerely maintained it's value over the mid to long term.



However, the problem for anyone considering TRNC for a property "investment" is that in this particular country you can part with your hard earned savings but never actually "own" what you have bought, and the legal system, if you can call it that, will do nothing to protect you.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
10/01/2011 22:52

cronos

You have hit the nail on the head. Absolutely no legal protection.

waddo


Joined: 29/11/2008
Posts: 1966

Message Posted:
10/01/2011 22:59

Happy Camp for me to, leased! Learnt the hard way in UK never to buy again, constant moves around the country following the work always caught us in the buy expensive and sell in neg equity so after owning various houses for 25+ years we got out of the market with a huge £65K profit - that was also the life savings! Came here for the rest of life and leased for 50 years (rent up front really) without any hassle and worry. It has worked just fine and I would do it all again the same way.

Feel sorry for those caught in the property traps but not for those who "Invested" for pure profit - that is always a chance I would not take.

TRNCvictim


Joined: 17/08/2010
Posts: 1417

Message Posted:
11/01/2011

cronas (mess 15)



You are so right, you own nothing, all the land is mortgaged! and nothing and no-one will protect you! those words came from a lawyers mouth!!!!



waddo (mess 17)



Fortunately I had no problems in the UK! sadly many many problems in the TRNC I'm so happy your in the happy camp! enjoy!

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
11/01/2011 08:32

msg13 "High Spec" Villas..............."Oh" come on now A.J.

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
11/01/2011 08:41

How sad that some on this board (and always the same people) don't miss a chance to make other people worry more or make them even more miserable. Look outside, go outside - enjoy another great day in TRNC. Carpe diem et memento mori.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
11/01/2011 08:55

msg20 D.C. How would you" Cheer up" the people that have lost everything,(I am not one of them) Take them on an Historic walk perhaps.I doubt that would work

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
11/01/2011 09:09

msg20 D.C.... "Verto a caecus oculus ut palientia est haud solutio"

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
11/01/2011 09:16

MartinD41: You are one of the people who - in any thread you can find - try to rub it in. "Were they warned not to buy? How sorry are they for buying? etc etc". You can't spoil my life, but I do feel sorry for the people with problems - they don't need your posts, with hardly hidden perverse delight.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
11/01/2011 09:24

msg23 Many of your posts prove that your only form of defence is "Attack",quite sad really for such an obviously well educated man,..............

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
11/01/2011 09:30

everyone is affected whether you have obvious problems or not. The price of ALL PROPERTY will continue to fall until the government right the property injustices. HISS IS FATAL

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
11/01/2011 09:38

mess 24 - have to agree with you - i, like many find DC's agressive attitude, quite distasteful...........

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
11/01/2011 09:42

RE msg 24, martinD41: I don't have to defend myself so it's up to you to find the truth and facts about you "an attack". Even in a thread with happy and positive memories you showed your agenda: http://www.cyprus44.com/forums/53340.asp - post number 5. For once try to think about (doing) something positive.

Now back on topic: trying to win more members for the "sad and unhappy club". No, thank you.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
11/01/2011 10:08

msg 27 D.C. I do not want to get into a war of words,but surely I am entitled to have my say,many of my posts are positive,some are jovial (unlike yours) I ,unlike you, do not "enforce" my opinions unless the subject matter is within my Expertise (38 years in Construction) I to have been saddened by the loss of an "ERA"on many occasions.. It's almost like a Death,,,"Death smiles at us all,And all one can do is "Smile Back.!."..Be happy

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
11/01/2011 16:28

At least there are a few members of the 'happy clappy all is fabulous in the TRNC and anyone who isn't must be despised and slagged off' club as opposed to the far too many victims of the culture and system.

gromit


Joined: 28/10/2010
Posts: 75

Message Posted:
11/01/2011 18:51

Hans



" go outside - enjoy another great day in TRNC. Carpe diem "



Oh how I wish I could!



I am one of those who own (not) a property that I bought after much discussion, advice, help and legal fees, for a lovely fully finished villa.



All of them, to a man & woman were 'Happy Clappy' Brit ex-pat's confirming that it was 100% safe & Legal.



It now appears my lovely villa has no planning permission, parcelisation, mains elec or water even vaguely possible without £thousands more, slim chance of Title Deeds and is probably unsellable.



I have no problem with Cypriot Authorities, it's their Country, their rules and regs, it's the 'Happy Clappy' Brits who stitched me up! The Agents and so called Advocates especially, as well as every other Brit business I came across.



The next time I encounter a 'business', or 'Professional' ex-pat Brit, I will make sure I am carrying a clove of garlic and a crucifix.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
11/01/2011 20:19

At the risk of being targeted by D.C.Thank you for posting I" EMPATHISE "not simply sympathise with your position.Many an Ex-Pat has been Duped,I only hope that your situation can be resolved...all the very best..

.