Peyia

Discussion in 'Cyprus Property' started by PROPERTY FORWARD, Feb 22, 2010.

  1. PROPERTY FORWARD

    PROPERTY FORWARD New Member

    Was quite interested in this this area when I visited it a few years ago. Did latchi and Polis then on the way back to chlorakas, called in here.

    Are there any agents who are selling here and could possibly give some information on the area.
     
  2. Lysos

    Lysos New Member

    It's known locally as 'Little England'.
     
  3. PROPERTY FORWARD

    PROPERTY FORWARD New Member

    Is this because it is rife with expat anglofiles or is it because of its charm..

    I quite liked the place.
     
  4. Lysos

    Lysos New Member

    Rife with expats - though some would say that is its' charm. Either way, Cyprus is suffering far worse than is generally accepted from recession. Anyone who bought an identikit townhouse/apartment based on agents promises of return is now facing serious problems. Rentals are virtually non existant. Resales from desperate sellers are in abundance. This situation is not going to change in my opinion. Eventually over a very, very long period the vast surplus of properties will be absorbed, sold at far lower prices than they were originally sold for. Cyprus 'glory' days are over. It always was overpriced, but locals thought they were fireproof. Not so. These days the major cost of any holiday is not accomodation but transport. Check out airfares to Cyprus; then imagine you are an average family looking for a holiday in the sun. You can have a package to Spain for less than the airfares to Cyprus. It's the same sun & the same sea; Cyprus has no unique selling point. In fact, it's beaches - an important selling point for families - are fairly poor.

    For lifestyle & quality of life, if you can afford to retire, great place. Investment ?. No way.
     
  5. zazuip

    zazuip New Member

    Lysos has got this right again

    flight prices from Gatwick to Paphos are now more with Easyjet than they were a couple of years ago when BA had the route - so much for low cost. It is close to £300pp for a LGW - PFO return flight in August this summer compared to £100pp return for Gatwick to Alicante for a family of 4 that is significant.

    I spent a lot of time weighing up the merits of Cyprus v Canaries as a rental investment that I could also use and it was very obvious very quickly that if in the market for a 2 bed apt close to the beach that there are better options as Cypriot market is flooded to the west. I spoke many times to an experienced travel consultant who was firm in saying that to the west of cyprus there is demand for high spec villas with private pools that offer some privacy or cheap apartments where you can walk to beach and restaurants with children as carhire is too expensive making overall holiday cost too high compared to Turkey/Greece/Spain etc. Holidaymakers are very wary of new developments.

    Lot of owners struggling to complete due to bank changing lending criteria especially for those with multiple purchases so there are going to be an aweful lot of properties to be absorbed over the coming years. For those owners looking to rent their property there is massive problem of making your property stand out on anything other than cheap price and as for having rental income to cover the running costs let alone the mortgage forget it.
     
  6. PROPERTY FORWARD

    PROPERTY FORWARD New Member

    this seems to be the par for the course in a lot of regions. Over saturation of new builds does tend to lend to the problem. That and the promise of rental guarantees, rental potential..
     
  7. Lysos

    Lysos New Member

    PF,

    You seem to be active on quite a few threads, but posting quite bland, obvious comments, adding nothing to the debate. What is your real agenda on here ?.
     
  8. PROPERTY FORWARD

    PROPERTY FORWARD New Member

    Im sorry, a forum doesn't necessarilty mean debate. If i was to be involved in a debate, I assure you , I would debate rather well.

    I am new to this forum, I have posted new threads to which you reply too. I have genuine interests in property abroad. i am particularly interested in certain markets. Moreover, I have been following a few property developments for over a year. Sunny day 6 being one of them. I have also been keen to see some different markets such as resale in Sofia..

    My agenda is quite clear.To join this forum and participate in property discussion and not to alienate others by making assumptions and calling people bland. Should you not wish to engage in my posts , i'd rather you just forget them, rather than insulting me and making unfounded allegations. If you are so hellbent on alienating me, perhaps request that the forum instigates a poll as to what my agenda is. i will keep posting and will not be deterred from doing so. Maybe I'll review your posts and give my opinion on them.

    This is a well run forum and I'm sure that if i did post something wrong, in the wrong place , act untoward, the moderators and owners will be sure to make it clear to me. To that end, I would respect their tone and adjust my postings/profile accordingly.
     
  9. Veronica

    Veronica Administrator

    Peyia is full of empty apartment blocks which are fast turning into the slums ofthe future.
    There are far nicer places in the Paphos area and certainly when it comes to investment Peyia is not the best place to look.
     
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