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Cyprus Property Blog by Cleo

Buying Property in Cyprus is a great investment choice and we discuss various aspects.

Are Cyprus Property Prices Falling?

I get phone calls and emails on regular basis from clients whose property I am listing to sell. They ask me if I think reducing the price of their home would help sell it faster. Of course the answer is yes, the lower the price, the more people that can afford it. I have had tremendous price decreases in the last month and if you are looking to purchase resale property this is a good time to find the right property, at the right price.

If you are a buyer, don't let the listed price of a property deter you from considering or at least viewing the home. I tell any prospective buyers to look for what they want in a home even if the price is a bit above their budget. If you find a property that is what you are looking for, make an offer - you have nothing to lose.  In many cases the owners will entertain offers from any serious buyers despite how ridiculuse the offer may seem.

I am not saying that all people will drop their prices and land is going up, but there are those who are desperate for a sale and have held on to their home much longer than they want to.  So, yes in my opinion prices are dropping and if you are a buyer now is your time to get a deal! If you have negotiated a deal on a home let us know how much of a reduction you got from asking price or if you have experienced the opposite also let us know your dealings. Lastly, if you have a home listed for sale - anonymously let us know the difference in listing price and what you would actually accept.

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Cyprus Property is Hot! Now more than ever. There are over 20 million northern Europeans (European baby boomers) that have retired in the last few years which is a great number and many will be British. Many have been waiting for the financial crisis to past before they make the move to Cyprus. With warm weather, low crime rate, low cost of living in Cyprus and English speaking population, do you think Cyprus will have enough properties for every one?