Property selling prices

judyr


Joined: 07/07/2009
Posts: 956

Message Posted:
12/11/2011 10:41

Is there anywhere that records the actual price realised for a property, similar to nethouseprices in the UK?



It would be interesting to see just how much of a downturn there is when compared with the for sale prices quoted on the agents sites.

reyntj


Joined: 26/01/2011
Posts: 229

Message Posted:
12/11/2011 10:49

id be interesting to know what the actal sales percentage price is im sure most estate agents will say close to the asking thats what foxtons say in the uk but from when i last saw some statistics in the uk it was something like 91 % of sales price with regional variations . with such a depressed housing market here with all the ptp, land and rogue builder problems i can only envisage sellers must be happy to get any offers. i have been looking at property websites here for 12 months and it seems the same properties are still up for sale on many of them indicating there are no buyers or sellers are unwilling to sell at what they have been offered.

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
12/11/2011 12:16

We have had our place up for sale. Not so much a lack of interested people, more so that they can't get a mortgage in our experience. The other problem has been the increase in sterling against the lira. Hence if you are a local or live and get paid in TL, you are paying more for a house than you were say a year ago. The economy is also getting worse.

I think its a bit like the UK in that repect. My UK estate agent tells me the first time buyer market is dead, they just can get the banks to lend them the money. There does appear to be the investment buyers looking for a bargin, but thats about it.

j200mey


Joined: 06/02/2011
Posts: 81

Message Posted:
12/11/2011 12:39

were not here to make money are wee

Jeannie


Joined: 04/08/2009
Posts: 3283

Message Posted:
12/11/2011 12:43

Message 4 - proably just as well, then

itsadogslife


Joined: 17/03/2009
Posts: 121

Message Posted:
12/11/2011 13:09

It would be nice to get a fare price after all the money time and effort to get the house upto a decent standard and for people not to try and shaft you just because they think you are desperate.

j200mey


Joined: 06/02/2011
Posts: 81

Message Posted:
12/11/2011 13:18

dont sell then

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
12/11/2011 13:52

I'm sure a lot of the pricing in NC is based on people asking for what they 'need' as opposed to what a house is worth determined by supply and demand.



Certainly though anyone holding a kocan, all services connected, right original builder, location etc will be in a far better position than some.



I think many peole though won't understand the reason for a price disparity. Most look at the price and can't see past that, that's why peole buy clothes from QD.



I know of a very nice 3 bed house for sale, undisputed land, history known, has the kocan etc etc, but looks expensive compared to the disaster stories it's competing with for a buyer, where people will take a very low amount to get out of their predicament.



It's also a global thing though, tales economic woes are across the world, those that have a house will sit tight for a while, those that don't can't borrow money anyway.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
12/11/2011 14:51

Msg 8 if houses here were priced on "worth" nobody would get what they"need"..

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
12/11/2011 15:25

This anecdote might give an idea of the fall in market prices. Approx 3 years ago our villa was valued at £169,000. We could have sold easily at that time for a sum above £150,000. Currently, we believe we would have to accept approx £120,000 at best to get a sale in spite of continuing for 3 years to add extras and improvements such as a wood burner to supplement existing full radiator central heating. As Yrret says above, potential buyers seem to have no interest in Kocan, quality build, taxes paid, every facility, prime location etc only "where can I buy the largest quantity of bricks slung together, but looks ostentatious, for the cheapest price " ? Our viewers do not seem to have paid heed to any of the advice given by those who have and are suffering at the hands of those involved in the property market.

suehowlittle


Joined: 31/10/2010
Posts: 1202

Message Posted:
12/11/2011 16:59

Wonder what it takes to get people to take their heads out of the sand here? The tales of woe are legion and easily accessed, so no excuses now for stupidity. We were not niaive 8 years ago, the information was given to us, we trusted that information and it took us 5 years to learn that we should not have. Now there is no such excuse.



Anyway, I love it here and think about it, where else would we go? Europe is an absolutely no-go for us now although we almost bought in Charante, in south west France. (The inheritance laws stopped us from buyiing there - we wanted to retain the right to leave an inheritance where we wanted to). I am very glad we came here despite the problems we have had. We love it and will never go back to UK or anywhere else.

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
12/11/2011 21:05

some people want champagne , but can only afford fizzy water . lmfao

TRNCvictim


Joined: 17/08/2010
Posts: 1417

Message Posted:
12/11/2011 22:00

rowlo (mess 12)



The problem comes when victims have paid champagne prices for their homes that are now only worth fizzy water! don't you agree?



suehowlittle (mess 11)



HISS is endemic in the TRNC! the tales of woe on the internet will be there for years to come , and as you say easily accessed! I was naive 8 years ago along with many others! we were unlucky the spin of the roulette wheel came up the wrong colour! and the internet was clean of all the dirty dealings, but not now it's there for any future victim to see in graphic colour Thank God!

Jovial_John


Joined: 31/01/2009
Posts: 1024

Message Posted:
13/11/2011 08:39

It's no longer a matter of academic interest because the government is now charging tax (11%) on their estimate of the current value of a property ( http://www.cyprus44.com/forums/78080.asp ). Anecdotal evidence, some on here, suggests this is higher than anybody could realise in a sale (which is the true value) and many sales will be less than the purchase/contract price.

When I bought (2005) taxes were based on a government valuation that was always less than the purchase price. Then they changed to base taxes on the contract price, so people started to reduce the contract price either by paying part in cash or by having a second contract. Now the government responds by overestimating; but there are still people in the pipeline who bought under the 2005 rules and expected 8% tax on a lower valuation.

Without some meaningful statistics there is no hope of judging the accuracy of the government valuation, not that I would have much hope of convincing any official to reduce it.

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
13/11/2011 10:26

A friend of our recently purchased some land from another family member for around the 10k mark. Then when he went to register it and pay the taxes he was told the lowest price it could be based on was 30k, which was there starting bracket tax. He came away cursing.

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
13/11/2011 17:43

We experienced exactly what Jovial John relates above. At the time the builder should have passed us the Kocan the tax due was calculated on a figure less than the contract price but by the time we received the Kocan the tax due was calculated way above the contract price. To add to our dismay our advocate without our authority utilized our monies in his account to discharge these taxes including those due from the builder. Forgive me if since I have cynically believed that government will contrive to ensure that no foreigner will sell their property here at a fair price and take what is properly due to them from this Island. It seems the screw is forever tightening in their efforts to retake what has been paid for in full and a lot more already.