Cyprus-Forum.com

[Maximus]

Its all relative Paphitis.

Property ownership is out of reach for a lot of people, globally, not just in Cyprus.

But from a value perspective, yes it is there if you are patient and look diligently enough. You can get a 3 bedroom house, with en-suite, plus garage and energy efficiency A and only 20 minutes drive from a major city center for about 250k.

A top floor 2 bedroom apartment close to the city center will go for a little less than that in Limassol. It will be cheaper in the other cities.

The problem for a lot of people is gathering the initial deposit. However, the Cypriot market has a bit more flexibility than other markets in that regard..

for example, banks requires at least a 20% down payment to arrange a mortgage. That can come down a little to make it easier.

[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!

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

Seizing = without paying compensation -->
https://www.ft.com/content/71a856af-061 ... 19d2296f96

[Paphitis]

Its all relative Paphitis.

Property ownership is out of reach for a lot of people, globally, not just in Cyprus.

But from a value perspective, yes it is there if you are patient and look diligently enough. You can get a 3 bedroom house, with en-suite, plus garage and energy efficiency A and only 20 minutes drive from a major city center for about 250k.

A top floor 2 bedroom apartment close to the city center will go for a little less than that in Limassol. It will be cheaper in the other cities.

The problem for a lot of people is gathering the initial deposit. However, the Cypriot market has a bit more flexibility than other markets in that regard..

for example, banks requires at least a 20% down payment to arrange a mortgage. That can come down a little to make it easier.

The last time you can get anything for 250k anywhere near a major city was 30 years ago.

Now, it's well over a million.

[Maximus]

I am talking about Cyprus.

[Paphitis]

I am talking about Cyprus.

I know that.

I'll give you a little tip. Get a good job and borrow as much as you can afford and just buy 2, or 3 houses. In 20 years time, you won't regret it.

[miltiades]

" Borrow as much as you can"
Take no notice of the General. Love within your means, reach my age and all you have belongs to you. Debt is bad. You borrow ONLY to acquire your residence when starting life. Do not borrow to buy cars or other such. If you are in business only borrow if by doing so you expand your business and increase profitability.

[Paphitis]

" Borrow as much as you can"
Take no notice of the General. Love within your means, reach my age and all you have belongs to you. Debt is bad. You borrow ONLY to acquire your residence when starting life. Do not borrow to buy cars or other such. If you are in business only borrow if by doing so you expand your business and increase profitability.

No it isn't bad at all.

Debt that buys property or gets you into a home, is definately good debt.

And without debt, you are sure as hell going to be renting all your life or for many years before you can afford to buy a house in the real world.

Far better to be paying your own home off than pay somebody elses rental property off.

You as an accountant should understand that.

[Londonrake]

" Borrow as much as you can"
Take no notice of the General. Love within your means, reach my age and all you have belongs to you. Debt is bad. You borrow ONLY to acquire your residence when starting life. Do not borrow to buy cars or other such. If you are in business only borrow if by doing so you expand your business and increase profitability.

Milti, with my albeit limited experience. You are not a man who has ever “loved” within his means. Particularly if it’s blonde with big tits.

[miltiades]

Blondes and I go back many years, I must however now at almost 76, admit that I can't remember why.

[Oceanside50]

I don’t understand Cypriots… they are willing to spend 700,000 euros to sit in front of the sea.surrounded by Brits and Russians.. . if they go up to Pitsilia they can buy for a fraction of that and be at the beach in 20 minutes… I drive 3.5 hrs to the beach to see the Atlantic and sometimes longer if there’s traffic.. In Pitsillia you’ll be surrounded by Cypriot culture and The finest Cypriots, Pitsilous…. Great people… !!!