Vacation Property in Cypress

Discussion in 'Cyprus Property' started by hollsmos, Jan 3, 2009.

  1. hollsmos

    hollsmos New Member

    Hello,
    Cypress sounds like such a cool place to buy a vacation property. Is anyone else looking to buy a vacation home there right now? Is the market ripe there for it? I am concerned about it being a good investment when the time spent vacationing there will be so limited but sounds so enticing.
    Thanks!
    Holly
     
  2. rjw8652

    rjw8652 New Member

    Holly,

    The Cyprus market is dead - oversupply will keep prices down for years. Do not be seduced by the marketing hype and the glowing stories of life there put out by the developers.

    I lived there from 2003 to 2007. I suggest to rent if you are intending to live there. The rents are very reasonable and allow you flexibility to get to know the place. DO NOT BUY NOW!!

    John
     
  3. Lysos

    Lysos New Member

    Holly,

    From the wording of your post - "sounds like such a cool place to buy" - I'm supposing you have never even visited the island !. Never buy anywhere, for any reason, without checking things out yourself on the ground. John is absolutely right - there is a gross oversupply of property to buy & rent. Tourism will be way down this year because of the economic situation, the high prices and the collapse in the exchange rate £/€. The main target market is UK, whatever builders may claim about an increase in interest from Russia, who's economy is suffering just like everyone else's.

    (Incidentally a Cypress is a tree).
     
  4. Nigel Howarth

    Nigel Howarth New Member

    Hi Holly,

    You might be interested in seeing the long-term investment ratings for Cyprus prepared by the well-respected 'Global Property Guide'. Last November they looked at 69 locations around the world.

    At the top of the list is Chisinau in Moldova with a “Spectacular” gross rental yield of 14.17% and a long term investment rating of 3 stars.

    [​IMG]

    Languishing near the bottom of the list at position 65 out of 69 is Limassol in Cyprus with a “Very Poor” gross rental yield of 3.45% and a long term investment rating of 1 star.

    [​IMG]

    Regards,
     
  5. fsb properties

    fsb properties New Member

    Hello all,

    meet Holly the American TV show presenter for House Hunters International.

    She is not interested to buy in 'Cypress' , god, cannot even spell the place never mind find it on the map, typical american. She is fishing for punters for her show and is making out she is thinking of buying there.

    She has already posted on the Eastern Cyprus forum asking for such.

    I just hate it when people don't just come clean and try to decieve you into something.

    Well Holly, firstly learn how to spell the place you are researching, then know where the hell on the map it is, then state your case.

    Cheers.
     
  6. Veronica

    Veronica Administrator

    Well said fsb:D
     
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