Property Prices

Marina


Joined: 11/06/2008
Posts: 13

Message Posted:
27/10/2008 22:56

Can anyone advise whether property prices are going down in NC? If so, what percentage over the past six months?



Many thanks.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
27/10/2008 23:06

They'll be doing "1 Alana 1 Bedava" (buy one get one free) in Lemar any minute....

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
27/10/2008 23:06

The market has been in a slump for some two years and is worsening according to those in the business. Getting figures is more difficult as so few can be verified and trusted. With so many Brits desperate to get away there are bargains to be had. Someone on the BB is selling for £20K less than they bought. That should give you some idea.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
27/10/2008 23:11

Frank/Joan , had a viewing just a couple of days of putting there house on the market , and on our complex a few more apartments have been sold , so indications are not all doom and gloom .

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
27/10/2008 23:23

I was joking....



however, of course everywhere the world over is going to be more difficult for sellers in the current climate..



It is true that houses with really good locations and views will still sell... they always do... the more difficult ones will be those with less than optimal positions... There was a time when everything was being snapped up but that was bound to end at some point, global meltdown or no...



It is also likely that people who would have been about to trade up will be pulling up the drawbridge and trying to out-last the seige...



When you are selling a house you only need one buyer... if the house is right then it will sell.



When buying the old phrase "what's meant for you won't go by you" comes to mind.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
27/10/2008 23:44

good post Groucho , to true you only need one buyer .

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
28/10/2008 01:02

Its a buyers market like everywhere else, wait a bit longer and sellers will be desperate to sell. Next year will be very hard for sellers as people begin to see the reality of buying in nc.

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
28/10/2008 01:32

WE ARE NOT SELLING!!!!



This is home and we are quite happy with life here.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
28/10/2008 01:49

nice post cyprusishome .

sylvie


Joined: 12/03/2008
Posts: 1081

Message Posted:
28/10/2008 09:53

WE ARE NOT SELLING OUR HOUSE !



IT IS OUR SECOND HOME -OUR HEART AND HOLIDAY HOME - My HUSBAND ROOTS ARE THERE - MY GROWN UP BOYS ARE STILL COMING AND GRAND CHILd WILL AS WELL - FRENCH FAMILY AND FRIENDS DISCOVER CYPRUS AND KEEP COMING HOLIDAY TIME !!!!!

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
28/10/2008 15:12

i think the problem with the market here is that if you have a resale property, firstly its hard to find an agent to sell it and you will be compeating on price with the new development unless you have something very individual.

i think the only bargins to be had are with those people who are desperate to leave cyprus for what ever reason.

also it will ordipend on the location the property is in,and what kochan it is on.

its no different from the uk if you buy at the right price and in the right location you can't loose.

Amber


Joined: 26/09/2008
Posts: 561

Message Posted:
28/10/2008 16:22

Does anybody think that the ongoing talks between the 2 presidents will have some effect and encourage more to buy pushing prices up?



Or is this just wishful thinking??!!!

Tricia


Joined: 06/03/2008
Posts: 70

Message Posted:
28/10/2008 18:01

Could you enlighten me why next year the realitise of buying in NC will

become apparent.

Thanks

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
28/10/2008 18:20

Like it so much buying another

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
28/10/2008 18:30

How many of you know any of the "brits desperate to get away" as mentioned by Pikey. I love the place and am very happy now it is eventuallly finished. I dont want to sell but I imagine speculators fear the global problem and probably are in such a deep financial hole they have a big defecit in every country in which they have invested.

augusta



Joined: 10/06/2008
Posts: 173

Message Posted:
28/10/2008 18:32

I've been to visit and I liked what I saw.....in a week or so I come to live there....so I like your optimism ....."I like it so much buying another"!

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
28/10/2008 18:39

hi paul , where are you buying ?

regards , pat

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
28/10/2008 18:45

Hi Pat ,

currently negociating on one, overlooking sea at Essentepe

regards

p

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
28/10/2008 18:53

hi paul , i have never been there , but you will have plenty of company over that way , most board members are down that end hope you are sucessful in your negotiations ,

regards , pat

dozza67


Joined: 11/07/2008
Posts: 607

Message Posted:
28/10/2008 19:02

I think you will find that most board members are on the west side of Kyrenia. Most of the villas in Esentepe (so I'm told) are holiday villas and not many people actually live there all year round.

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
28/10/2008 19:11

hi dozza67 , i stand corrected , i'm not familiar with that area , thanks for the info

regards , simbas

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
28/10/2008 21:09

Hi Paul,

Maybe we will be neighbours my friend,

Paul.

1066ben


Joined: 20/10/2008
Posts: 50

Message Posted:
28/10/2008 21:56

Hi all we put our 3 bed bungalow on the market with Unwins and sold within three weeks and got £10000 of our next place

Ben & Alison

Marina


Joined: 11/06/2008
Posts: 13

Message Posted:
28/10/2008 23:20

The property prices are globally on the way down. However, this does not mean people will lose on their investments. I guess North Cyprus is no different than any other country. It is a matter of time before the markets pick up again. The interest rates are being cut gradually and this will help recovery.



It is certainly a good time to invest in property.

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
28/10/2008 23:41

Global markets are clearly in recession. If you have money in the bank then this is the time to invest. Property, currency, commodities or S&S.



Property in TRNC is also in recession. Prices are generally at least 20% less than rest of Mediteranean coatal regions. This is mainly because of consumer fears regarding Land title, Political isolation of TRNC and more dificult access.



However. My vew is that political isolation will be overcome within the next two years. Turkey wishes to join the EU and The Cyprus issue is a thorn in their side. South Cypriot regime sees the North as inceasing its prosperity and economic position. There are clear economic advantages for the South as well as the North for an inceased level of economic liason, removal of cross border trade restrictions and more freedom of acesss to all parties, particularly direct flight.s to the North.



All these factors will have a positive economic effect on the Island but the effect will be greater in the North

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
28/10/2008 23:58

continued from message 25.



Buyers of property in the North can depend on a future market. As an investment the market remain stagnant at bestwhilst the recession lasts.

When current cyprus issues are resolved the market will rise, probably quite quickly due to the remarkable tapography and inherant attractivness of the region.



Investment is better than anywhere else in Europe except possibly for Bulgaria and Romania. This is because you still purchase in £ sterling. US$ has totally lost its attraction , the Euro has been out of sorts for over 12 months so North Cyprus is definately the place to get the best value , favorable location, favorable climate, Engish speaking, and offers some of the best potential.



If you are going to buy. Off plan builds are up to 24 months and then you need to furnish and garden and sort infrastructure. I recommend a re - sale.

Mature gardens can make a property. Build quality on new build is getting better. There are only a few good developer

Pinklady


Joined: 02/09/2008
Posts: 2

Message Posted:
29/10/2008 12:31

...... Hi....



Bulgaria? It's SNOWiNG there today..... last week they had floods!





If you ask a buyer will prices go up soon.... the answer will be no!...... same as if you ask a seller will the prices go down.... answer the same

Tricia


Joined: 06/03/2008
Posts: 70

Message Posted:
29/10/2008 14:35

Just had to comment on the welcome positivity from the posts on this site

We are on our way over to Ozankoy for six months from next February and sometimes when I read the negative posts I wonder what we are doing.

Thanks for all your positive thoughts.

Love to hear from anyone living in Ozankoy. We have apartment at Sydney Homes, very nice.

bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
29/10/2008 20:32

Hi Tricia,



I have a holiday home in Ozankoy. I know where Sydney Homes are and they are in an ideal location in the village. The village is ideal for walking to bars and restuarants in the evening and has a really friendly atmosphere. There is a mixture of TC's, Turks and Brits living in the village. Theres always something going on and its an ideal base to see the rest of the island from.



I'm sure you will have a god time.



Bradus

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
30/10/2008 00:10

Sorry Sue, amused me Ozenkoy place for religeous experience? 'God time'

kind regards

paul

bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
30/10/2008 00:13

Well spotted Paul.



Just testing you all.