Alpha Panareti
Posted: 03 Feb 2009 23:55
Hi there,
Just wanted to know if anyone can offer any reassurance ( suspect not!) to someone daft enough to have purchased a a 2 bed villa off-plan at the St George Hills Development which is being built by Alpha Panareti at Tremithousa, Paphos. We bought into the hype back in 2006 I'm afraid. AP properties seem to be expensive anyway (which they justify by hight build quality, upmarket development, good landscaping, indoor pool, spa, club house with restaurant / bar etc etc etc) but given the current financial climate ( exchange rates, Swiss Franc Mortagage) and the news that the market is collapsing in Paphos ( & Cyprus generally) should we just give up and declare ourselves bancrupt now! We were hoping to rent out the property to cover some costs - but doesn't sound like there's much hope. AP of course say everything's fine and nothing to worry about & the agent who sold it say rentals won't be a problem for a nice villa ( versus identikit apartment)................is anyone buying / renting villas in Paphos anymore? Also does anyone have any experience of Swiss Franc mortgage - will the current exchange rate it's £100 000 more than we anticipated
Julie
Just wanted to know if anyone can offer any reassurance ( suspect not!) to someone daft enough to have purchased a a 2 bed villa off-plan at the St George Hills Development which is being built by Alpha Panareti at Tremithousa, Paphos. We bought into the hype back in 2006 I'm afraid. AP properties seem to be expensive anyway (which they justify by hight build quality, upmarket development, good landscaping, indoor pool, spa, club house with restaurant / bar etc etc etc) but given the current financial climate ( exchange rates, Swiss Franc Mortagage) and the news that the market is collapsing in Paphos ( & Cyprus generally) should we just give up and declare ourselves bancrupt now! We were hoping to rent out the property to cover some costs - but doesn't sound like there's much hope. AP of course say everything's fine and nothing to worry about & the agent who sold it say rentals won't be a problem for a nice villa ( versus identikit apartment)................is anyone buying / renting villas in Paphos anymore? Also does anyone have any experience of Swiss Franc mortgage - will the current exchange rate it's £100 000 more than we anticipated
Julie