Cyprus Property Forum for Buyers, Sellers & Investors

I have been watching the property market for the past 18 months and now feel my time is right to purchase. The intention is to use it as a holiday home for friends and family, but also for holiday rental during high season in order to cover annual running costs. I am a cash buyer so expect to get a ...

Prior to getting a solicitor involved when planning to purchase a property, I feel it is essential to have a structural survey carried out. Can anyone advise on costs for this (say 3 bed villa with pool) and how/where to find someone (Paphos area)

Nigel

With all the horror stories of people losing their homes due to developers debts, etc, (where this is no fault of the owner) I am becoming more and more nervous (and wary) of purchasing in Cyprus. One of the fundamental safeguards seems to be to buy a resale property with title deeds. If I ...

". . . . the true state of the market" is what purchasers are prepared to pay now, nothing more and nothing less. Of course it is the decision of the vendor as to whether they want to sell or not. However, supply is massively outstripping demand at present and the gap is growing with more and more ...

Thanks Nigel. A good common sense article. I suppose having cash puts the purchaser in an even stronger position.

There are many reports stating that property prices in Cyprus have fallen and will continue to fall significantly. Having watched the market over the past 18 months I do not see this being reflected in 'For Sale' prices. For prospective buyers, what would you suggest is a realistic starting point ...

So you think that properties are realistically priced to achieve a sale in a reasonable time period? If this is the case I will wait until the inevitable crash comes.

Yes, I read the article, makes sense to me.

Given that it is a buyers market and clearly the advertised price is way above realistic, if someone has 'cash' what is a reasonable opening offer in terms of % below asking price? 20-25%?

Whilst those involved in property sales and indeed those that currently own property in Cyprus will like to think advertised prices are realistic, are they really?

Some of the key factors which are / will impact upon property prices include:

- Greece situation will have a massive effect on the ...

Hi Nigel

Thanks for your reply, nice to know I am not totally alone!

I will take onboard all of your advice and indeed take my time.Yes, around Paphos is my preferred area, but not too near the tourist areas. Also we would definitely want a house or bungalow, not an apartment.

Neil

Hi to everyone.

I am new here, looking for some general advice on buying property in Cyprus (or not!)

I have been to the island several times for holidays and generally like the place. I am 57 and have taken early retirement, which means i have more time to enjoy holidays abroad. To this end I am ...