Property recovery in paphos
Posted: 06 Aug 2009 18:00
Are we likely to see a recovery in property prices in Paphos within the next 10 years. I am just wondering if things will ever improve in this particular area of the world.
Hi erikah
I'm sure the property market will recover at some stage, but how long that will be is anyone's guess.
The financial problems are still around (I heard today that the Bank of England has injected a further £50 billion into the UK economy to help speed the recovery) - and some of the property in Cyprus has been overpriced for quite some time.
Added to this are the various problems associated with buying property on the island - so all in all, it's difficult to say.
As for getting a return on your investment, you should consider property as being a long-term investment - i.e. 10 years or more.
Regards,