Is selling a good idea or should we hold off?
Posted: 01 Jul 2011 17:58
I could really do with some advice! (I wanted to just type 'help!')
This site really has some fabulous advice and information but hasn't completely cleared up my confusion with the cyprus property market!
We purchased an off plan 3 bedroom property in Pervolia in 2007 dazzled by the developer, bank and promises of a nearby pga golf course. We all know what happened to the golf course plans and the property market since and we are stuck between a rock and a hard place.
Our income has come done since purchasing the property and we are now trying to decide whether to sell or hold on to it and pray the market will get better.
I received an email regarding the golf course, that it is now back on track, but does that mean my property will get back some of it's value?
The developer seems reliable but has since the build was finished (late 2009) not yet produced the title deeds. In today market we would hope to make back what we put in and hence we are pondering wether to hold onto the property.
My view is that the property market in Pervolia is being swamped with new properties being build much cheaper then we had ours for and that our property simply will not get back it's value.
Our mortgage has also gone up with leaps and bounds and we are just unsure as to what to do.
I would love some advice and hear what your experience is. Should I sell or should i hang onto it? What do you think?
Linda
This site really has some fabulous advice and information but hasn't completely cleared up my confusion with the cyprus property market!
We purchased an off plan 3 bedroom property in Pervolia in 2007 dazzled by the developer, bank and promises of a nearby pga golf course. We all know what happened to the golf course plans and the property market since and we are stuck between a rock and a hard place.
Our income has come done since purchasing the property and we are now trying to decide whether to sell or hold on to it and pray the market will get better.
I received an email regarding the golf course, that it is now back on track, but does that mean my property will get back some of it's value?
The developer seems reliable but has since the build was finished (late 2009) not yet produced the title deeds. In today market we would hope to make back what we put in and hence we are pondering wether to hold onto the property.
My view is that the property market in Pervolia is being swamped with new properties being build much cheaper then we had ours for and that our property simply will not get back it's value.
Our mortgage has also gone up with leaps and bounds and we are just unsure as to what to do.
I would love some advice and hear what your experience is. Should I sell or should i hang onto it? What do you think?
Linda