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Where the Cyprus economy is going.

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Where the Cyprus economy is going.

Postby CBBB » Tue Jun 05, 2012 10:13 am

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Re: Where the Cyprus economy is going.

Postby Jerry » Tue Jun 05, 2012 10:52 am

A possible bail-out for Cyprus was mentioned on the 8.00 am news this morning by BBC radio. Along with other austerity measures the unions are not happy about losing their twice yearly cost of living index linked wage increases.

Cyprus would seek EU bailout money 'if necessary'

http://www.bbc.co.uk/news/business-18318252
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Re: Where the Cyprus economy is going.

Postby B25 » Tue Jun 05, 2012 10:55 am

The only austerity measures Cyprus needs to take is the reduction in salaries and benefits of its civil servents. That alone would save us at least 800m a year if not more.

I detest the giving of say school teachers and other 28 times their final slary as a goodbye bonus, bonus for timely attendance to work, bonus for actuallt turning up for work and a number of the other criminal bonuses paid to government employees.

FFS, we have people unable to feed their families and these parasites are milking the country dry. Gamoto.
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Re: Where the Cyprus economy is going.

Postby supporttheunderdog » Tue Jun 05, 2012 11:46 am

I was thinking of reorting this comment for being in the incorrect section because what is happening to economy is no joke.

I agree with B25 that some problems are down to excess government spending but sadly we also have a *anking crises cuased by our *ankers who have unwisely lent, and this is not just to Greece. Even before the impact of the Greek Crises was known, I saw a number of comments about loans to local developers which might prove to be unrecoverable, which could amount to many millions, if not the low billions.

The property market is obviously in turmoil with at least one developer (Aristo) advertising half-price property - last year it was 20% off then 1/3rd off....
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Re: Where the Cyprus economy is going.

Postby Jerry » Tue Jun 05, 2012 12:04 pm

supporttheunderdog wrote:I was thinking of reorting this comment for being in the incorrect section because what is happening to economy is no joke.

I agree with B25 that some problems are down to excess government spending but sadly we also have a *anking crises cuased by our *ankers who have unwisely lent, and this is not just to Greece. Even before the impact of the Greek Crises was known, I saw a number of comments about loans to local developers which might prove to be unrecoverable, which could amount to many millions, if not the low billions.

The property market is obviously in turmoil with at least one developer (Aristo) advertising half-price property - last year it was 20% off then 1/3rd off....


No Stud, the joke section is the right place.
If Mr Aristo will sell me a two-bed apartment for 50k WITH DEEDS I'll pay him cash tomorrow. (no joke)
The prices asked for here http://easterncyprus.com/viewforum.php?f=3 for example are still too high for any realistic chance of a sale in the present economic climate.
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Re: Where the Cyprus economy is going.

Postby supporttheunderdog » Tue Jun 05, 2012 12:24 pm

Then perhaps the property prices deserve a place in the Jokes section..... and the deeds issue is no doubt one factor that does not help the Cyprus property market, not helped by a legal system that is slow....
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Re: Where the Cyprus economy is going.

Postby B25 » Tue Jun 05, 2012 12:31 pm

Jerry wrote:
supporttheunderdog wrote:I was thinking of reorting this comment for being in the incorrect section because what is happening to economy is no joke.

I agree with B25 that some problems are down to excess government spending but sadly we also have a *anking crises cuased by our *ankers who have unwisely lent, and this is not just to Greece. Even before the impact of the Greek Crises was known, I saw a number of comments about loans to local developers which might prove to be unrecoverable, which could amount to many millions, if not the low billions.

The property market is obviously in turmoil with at least one developer (Aristo) advertising half-price property - last year it was 20% off then 1/3rd off....


No Stud, the joke section is the right place.
If Mr Aristo will sell me a two-bed apartment for 50k WITH DEEDS I'll pay him cash tomorrow. (no joke)
The prices asked for here http://easterncyprus.com/viewforum.php?f=3 for example are still too high for any realistic chance of a sale in the present economic climate.


Sure, if you can find a 2 bed apartment in the uk for 40k GBP, let me know I'll have a dozen of them. You are a buyer so that means you will talk down the market just to get what you want. If you were selling, would you give a new 2 bed apt for 50k, F no you wouldn't.
I understand you have been looing for aome time, as you admit, seems you will still be looking in 10 yers time, cos what you want to pay for what you want doesn't exist. Oh, correction, yes it does, just go north, you are bound to find something there for stupid money, good luck.
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Re: Where the Cyprus economy is going.

Postby Jerry » Tue Jun 05, 2012 1:03 pm

B25 wrote:Sure, if you can find a 2 bed apartment in the uk for 40k GBP, let me know I'll have a dozen of them. You are a buyer so that means you will talk down the market just to get what you want. If you were selling, would you give a new 2 bed apt for 50k, F no you wouldn't.
I understand you have been looing for aome time, as you admit, seems you will still be looking in 10 yers time, cos what you want to pay for what you want doesn't exist. Oh, correction, yes it does, just go north, you are bound to find something there for stupid money, good luck.


There's a huge variation in UK prices B25. My nephew recently bought a two bed house for 50K in the Midlands. Here’s some for you in the south of the UK, realistically priced to sell unlike Cyprus, http://www.rightmove.co.uk/property-for ... adius=20.0
Which ones would you like?

I saw streets of brand new empty houses near my cousin's place in Cyprus last year, when the banks repossess them (they need the cash you know) they will go for peanuts but I won't buy 'cos they don't have deeds.
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Re: Where the Cyprus economy is going.

Postby B25 » Tue Jun 05, 2012 1:33 pm

Jerry wrote:
B25 wrote:Sure, if you can find a 2 bed apartment in the uk for 40k GBP, let me know I'll have a dozen of them. You are a buyer so that means you will talk down the market just to get what you want. If you were selling, would you give a new 2 bed apt for 50k, F no you wouldn't.
I understand you have been looing for aome time, as you admit, seems you will still be looking in 10 yers time, cos what you want to pay for what you want doesn't exist. Oh, correction, yes it does, just go north, you are bound to find something there for stupid money, good luck.


There's a huge variation in UK prices B25. My nephew recently bought a two bed house for 50K in the Midlands. Here’s some for you in the south of the UK, realistically priced to sell unlike Cyprus, http://www.rightmove.co.uk/property-for ... adius=20.0
Which ones would you like?

I saw streets of brand new empty houses near my cousin's place in Cyprus last year, when the banks repossess them (they need the cash you know) they will go for peanuts but I won't buy 'cos they don't have deeds.


50k in the midlands, yeah, I know the type, shitholes we call them, I mean come on, you have to compare like for like not just any old hole.

As for your list, crummy 2 bed 100 year old buildings in run down areas of 58m2 or less, compared to a brighter 2 bed in the med. I mean who are you going to kid.

So that brings me to the question, why aren't you buying those cheapos in the UK that are 'realistiscally priced to sell'. And if they were that good, why are they still for sale.

Come on Jerry, I had you down for a level headed intelligent man, but you are showing yourself up.
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Re: Where the Cyprus economy is going.

Postby Jerry » Tue Jun 05, 2012 3:08 pm

B25 wrote:50k in the midlands, yeah, I know the type, shitholes we call them, I mean come on, you have to compare like for like not just any old hole.

As for your list, crummy 2 bed 100 year old buildings in run down areas of 58m2 or less, compared to a brighter 2 bed in the med. I mean who are you going to kid.

So that brings me to the question, why aren't you buying those cheapos in the UK that are 'realistiscally priced to sell'. And if they were that good, why are they still for sale.

Come on Jerry, I had you down for a level headed intelligent man, but you are showing yourself up.


I think you will find that the crummy 100 year old buildings will still be there in another 100 years whereas those in Cyprus will have been demolished and redeveloped and a what cost and to who. Why do you think a 30-year-old apartment in Cyprus fetches a lower price than a new one? And of course in the UK you get title deeds and enforceable maintenance covenants. I saw some pretty crummy resales in Larnaca a couple of years ago but they still wanted silly money for them, I'm afraid too many Cypriots have a fixation that prices only go one way - upwards.

Some more UK bargains for you here in newer buildings and much cheaper too, http://www.rightmove.co.uk/property-for ... ding=false


PS, I already have enough property in the UK I want a holiday place in Cyprus.
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