2m investment: villa or commercial?

[Pantheman]

VCY, you are obviously in the trade so to speak, whom do you represent, you can pm me if you wish.

Gross yields, no can do, even if I knew I couldn't say!

Yes quite right about the passport, my bad I was thinking ahead that he would want the transfer now whilst waiting for the passport, but I suppose the transfer could be delayed!

Do you have links to this info regarding empty high rise properties, because each time I come by Limassol seems more and more are going up, just curious.

[VCY]

VCY, you are obviously in the trade so to speak, whom do you represent, you can pm me if you wish.

Not really, but have a number of acquaintances "in the know" and monitor the property market myself for investment.

Do you have links to this info regarding empty high rise properties, because each time I come by Limassol seems more and more are going up, just curious.

Here is a post on the topic from Antonis Loizou, a well-known professional in the CY property field: https://www.linkedin.com/pulse/worries- ... nis-loizou

[Nigel Howarth]

VCY

You should also check out Limassol becoming a sky-rise bubble?, Limassol upcoming skyline fears and Manhattan skyline for Limassol? (and watch the video).

Regards

[Alexx]

I appreciate the back and forth between between Pan and VCY. Two very different interpretations of the market. I'm inclined to believe the less optimistic one. Especially after seeing the same villas on the market for 1+ year, high percent of NPL, tenant law, 3 year anniversaries, deed issues...

I can easily imagine that a property CIP buyer could make a 500k-1M net loss, and thus much less likely to proceed.

[Pantheman]

OK, My last comment on this thread.

Firstly, those who are buying are essentially buying for the passport, not necessarily for income producing investments. If you want to buy for that kind of investment then yes, do more research for the right type of asset class.

Secondly those links are opinion pieces of various people, the public on the whole liked and thought the idea was good, others maybe not so much. I was surprised by the ETEK guy, maybe his own opinion and not that of ETEK and they all complain about no planning policy, but who exactly is supposed to make this policy, if it is not ETEK, The Planners and other stake holders. I don't get how everyone complains about no planning policy yet these permit must just be a roulette given willy nilly. I don't blame the developers, after all it's their business, I blame the planning departments, the government, the other governing bodies, Architects (after all they are the ones who design these things), ETEK, Environmental departments etc etc.

Crying foul after the event is not good enough. So why doesn't the Gov. stop all permits for high rise until such time that they produce some policies???

In order to counter some of the negatives, they can introduce something like the UK has, a S21 payment to the local authorities, in order to get the permits the developer has to pay a sum of money to the municipalities to deal with infrastructure, compensate for loss of views, implementing better transportation systems and any other negative effect. The buildings must add value, they must have a responsibility to the city and the country as a whole and not be for short term self serving businessmen, who will then just take their money and probably put is in some overseas accounts!!

Anyhow, I think I have said enough on this, good luck Alexx whatever you decide to do. Do let us know how you got on in the future, I would be interested to know.