Cyprus-Forum.com

[Pyrpolizer]

And no the prices generally won't go down, only the prices of those super luxurious buildings.

From experience, the upper end is the one that never goes down.

Why? Because the 1% who have the money to afford these properties will still have the money to buy them.

Whereas the middle and lower classes, in an economic crash will have no money to buy a house.

Therefore, it's your property that will crash.

Properties that are over the million buck mark will continue to be in demand.

how does that make you feel?

The high end property market has always done well even when the average median price is under pressure.

But that's in the real world - like in America and Australia etc.

Oh wait, it's foreigners that buy the high end stuffin Cyprus too. You just won't have any Russian criminals anymore. And good riddance!

For once in your life tried to make a logical argument, but then even for this single time you messed it all up. There won't be any ECONOMIC CRASH in Cyprus just because the few over 1m properties may or may not become unsalable. Probably you think there is a bubble in the prices of all properties in Cyprus that will burst and lead to economic crash. That's not true.

What will happen because of the sanctions to Russia is inflation just exactly as it will happen in all the EU and probably the US. (Did you know the Russians were exporting half a million barrels to the US per day?) There will be some impact on tourism, but tourism is only 12% of our GDP. We only import 1% from Russia, and none of our Banks is exposed to Russia.
So prices will go up, and make life even more difficult for the poor. But absolutely no crash in the value of average properties, -their prices will go up instead.

[Paphitis]

And no the prices generally won't go down, only the prices of those super luxurious buildings.

From experience, the upper end is the one that never goes down.

Why? Because the 1% who have the money to afford these properties will still have the money to buy them.

Whereas the middle and lower classes, in an economic crash will have no money to buy a house.

Therefore, it's your property that will crash.

Properties that are over the million buck mark will continue to be in demand.

how does that make you feel?

The high end property market has always done well even when the average median price is under pressure.

But that's in the real world - like in America and Australia etc.

Oh wait, it's foreigners that buy the high end stuffin Cyprus too. You just won't have any Russian criminals anymore. And good riddance!

For once in your life tried to make a logical argument, but then even for this single time you messed it all up. There won't be any ECONOMIC CRASH in Cyprus just because the few over 1m properties may or may not become unsalable. Probably you think there is a bubble in the prices of all properties in Cyprus that will burst and lead to economic crash. That's not true.

What will happen because of the sanctions to Russia is inflation just exactly as it will happen in all the EU and probably the US. (Did you know the Russians were exporting half a million barrels to the US per day?) There will be some impact on tourism, but tourism is only 12% of our GDP. We only import 1% from Russia, and none of our Banks is exposed to Russia.
So prices will go up, and make life even more difficult for the poor. But absolutely no crash in the value of average properties, -their prices will go up instead.

There is no property bubble in Cyprus. Property in Cyprus is actually very cheap in terms of Cyprus still has a long way to go to actually catch up.

If I were you, I’d be buying as much property as you can afford. Borrow as much as you can afford, and buy 2, 3 or 4 houses and land.

They been talking about a bubble burst for the last 20 years and it’s never come. Just wishful thinking.

[DT.]

great time to be on the high end segment. Russians looking to exchange cash for non-sanctionable assets.

[Pyrpolizer]

great time to be on the high end segment. Russians looking to exchange cash for non-sanctionable assets.

I'd bet some crooks have already spotted some seize-able Russian yachts in the Marinas that they will eventually grab with the help of other crooks in the govnt. This is Cyprus!

[Pyrpolizer]

There is no property bubble in Cyprus. Property in Cyprus is actually very cheap in terms of Cyprus still has a long way to go to actually catch up.

If I were you, I’d be buying as much property as you can afford. Borrow as much as you can afford, and buy 2, 3 or 4 houses and land.

They been talking about a bubble burst for the last 20 years and it’s never come. Just wishful thinking.

Now you are talking!

[Get Real!]

Tora giati sou ta leo touta oulla?

Dioti xero eisai super-fillargiros tzia o monos trobos bou enna fkallis boniman einai amman mathis boso LIOS eisai stin boungan, tziai enna antrabis na fiis!

Money is the only language a pissis like you understands.

Min xana emfanistis me des "ISIS" malakies sou!

Abendare!

[Maximus]

I also think it is a great time to buy, if you can afford it.

house price index.JPG

Global supply chain issue, inflation (build costs) and a lack of housing supply will push prices up.

Just research the area well, work out an average price per square meter and try and get a good deal.

Forget about those properties aimed at the rich, "golden passport" types. That is not a true reflection of the property market.

But it is partly a reason why there is a bit of a supply issue, as many developers tried to cash in there.

That housing price index will be back at those 2007/2008 highs within the next decade.....

[Paphitis]

great time to be on the high end segment. Russians looking to exchange cash for non-sanctionable assets.

There is that too.

Easier to hide non moveable assets than cash.

[Paphitis]

great time to be on the high end segment. Russians looking to exchange cash for non-sanctionable assets.

I'd bet some crooks have already spotted some seize-able Russian yachts in the Marinas that they will eventually grab with the help of other crooks in the govnt. This is Cyprus!

You can’t just grab assets. You can freeze them, seize them temporally but to dispossess them requires judicial approval I’m pretty sure.

[Paphitis]

There is no property bubble in Cyprus. Property in Cyprus is actually very cheap in terms of Cyprus still has a long way to go to actually catch up.

If I were you, I’d be buying as much property as you can afford. Borrow as much as you can afford, and buy 2, 3 or 4 houses and land.

They been talking about a bubble burst for the last 20 years and it’s never come. Just wishful thinking.

Now you are talking!

Property in Cyprus is still very cheap. There is a lot of value in the Cyprus property market.

It may not seem like that to you guys who live and earn in Cyprus but to us who live and earn overseas, we see cheap property and great value in Cyprus.

It’s certainly much cheaper to but property in Cyprus than it is in major US cities or Australia.

You can buy a 3 bedroom house in Cyprus with 2 bathrooms and even a pool for a fraction of the price. That is a fact.

So all I see is value abs cheap. Bear in mind, your houses are soulless. Awful architecture. But when you build your own you can create your own style.

I don’t see much risk in the Cyprus market. Surely the risk is much higher in Australia and US where prices have been sky rocketing to the stratosphere. Maybe these prices may come back a little but not by much, if at all. They just keep going up and up.

Cyprus, still has a lot of room for capital gains. You guys won’t be coming down anytime soon.

It’s my belief that the prices have plenty of room. Now this is bad for young people as they’ll be locked out of the market but the prices in Cyprus will be driven by foreign investment and the diaspora. It’s a sword that cuts both ways. It will be good for property owners but not good for young Cypriots looking to buy. To be Frank, that is also quite sad.

I often believe the Cyprus Gov needs to shut out or exclude British, Russian and Chinese investment to protect Cypriots. But don’t exclude the Cypriot diaspora. The Diaspora is the only investment you should allow in otherwise the median price will go to a level that is unreachable for the average Cypriot.