Cyprus-Forum.com

[miltiades]

I don't know about the rest of you but I'm witnessing the cracks appearing on the property market. The high end is feeling the absence of Russian multi millionaires, banks are being careful with their lending, wouldn't surprise me if a banking crisis doesn't follow. Banks are shutting down branches, two have gone from my neighbourhood leaving Ayios Athanasios without any bank. I do not use Cyprus banks but do have one account which I rarely use.
I'm in the market for a two or 3 bed appartment but I'm staying put until early 2023. Developers are facing steep increases in materials but don't seem to be in any hurry to complete, reason? Run out of dosh.
My advice to anyone with mote than 100 g is to exercise caution, Cypriot banks must not be trusted. I'm talking from personal experience....