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New Apt For Sale Nissi Beach Cyprus

Discussion in 'Buying Overseas Property' started by derek2626, Apr 13, 2008.

  1. derek2626

    derek2626 New Member

    Ground floor 1 large bed apt (easily sleeps 5 ) with balcony and garden. Fully furnished and aircon on exclusive development, with communal pool and kids pool on site. A 5 mins walk takes you to Nissi Sands beach. There are numerous shops, restaurants, bars and supermarkets close by, with Ayia Napa an approx 20 mins walk.
     
  2. Investy

    Investy Senior Member

    I'll pay you £50,000
     
  3. derek2626

    derek2626 New Member

    joker

    If you r serious about your offer add 100,000 and you ve got a deal
     
  4. Investy

    Investy Senior Member

    £150,000 for a 1 bed flat, in an over supplied location with a world wide credit crunch causing the supply of money available to be reduced by 40%+

    It cant be worth more than £70000
     
  5. derek2626

    derek2626 New Member

    nearly

    You r nearly half way to the asking price with prices rising by 20 to 30 %

    in cyprus per year FACT
     
  6. Investy

    Investy Senior Member

    My business partner and his very wealthy sister are Greek Cypriots. They felt Cyprus was over supplied 2 years ago let alone now. My partners freind has a lovely villa just outside Pathos, yet he finds it very difficult to let out, as supply of property is so high.

    He thought it was worth £750k 2 years ago, but guess what, its been on the market ever since and is now up for £600K with still no takers.

    Every m,arket has a cycle and Cyprus is definitely not one for the smart investor.

    Remember what the world richest man Warren Buffett says - "I get interested when no one else is, I get scared when everyone else is interested"

    In other words the time to buy in Cyprus was years ago. The next time will be when people cant sell and no one is buying. The next 12 months will be interesting
     
  7. Veronica

    Veronica Administrator

    Derek that might have been true 2 years ago but not now.
    I sell property in Cyprus and although the developers are still putting their prices up at different stages of construction, finished properties are stagnant as far as price rises is concerend.
    There is a glut of property on the market with fewer and fewer Brits buying here for investment.
    The only sensible purchaser at this time is anyone who is purchasing for full time living.
    Cyprus is still a wonderful place to live, especially for retired people, but until the British economy gets over its present slump and Brits once more look to investing, the property market here is not good.
    Sorry to tell you that what you are asking for a 1 bed is ludicrous, you can get a nice 3 bed for that in Paphos which is a much better area as it is an all year round resort unlike Ayia Napa which closes down for the winter.
     
  8. Investy

    Investy Senior Member

    Pippin, I appreciate your candid comments, its so refreshing to get such from an agent.

    A guy came into my offices recently. He claimed to be involved in developing property just back from a beach on the south coast where he says the whole dock area is being completely re - developed. His appartments started at £200,000, and where next to a 'planned' golf course.

    The guy had not a clue about the credit crunch or its effects, he just existed in some weird positive bubble. I was astounded someone claiming to be a shrewd developer had not the slightest interest in world economics!
     
  9. Antony

    Antony New Member


    Hi Derek,

    I know that it has been a while from the date you posted the thread but wanted to ask if you still have got that apartment I might be interested in discussing it further. you can contact me on kashijaz me com

    Thanks
     
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