Cyprus Property Market

Once you have made an offer on a property, and the offer has been accepted by the owners/sellers, if you have not already you will appoint a lawyer. Lawyers will represent you in Cyprus and assist you with all the legal, technical and financial matters in purchasing a property in Cyprus. In the Cypriot system, there are 2 main categories of properties- A. The properties that have their own individual...

If you are waiting for the right time to buy and expecting prices to plunge even further you should be wary about waiting too long. There are opportunities not to be missed.  In my opinion, there is no better time to buy property in Cyprus than now! You should at least begin the search! There are a number of factors that support my opinion that you should consider buying very soon.  The first reason...

You have waited most of your life for this day. Finally, you are ready to buy that Cyprus holiday or retirement home that you’ve spent so much of your life dreaming about.  Maybe you thought you knew exactly where you wanted that place to be, but along the way and through the years, you have visited many places, fell in love just as many times over and have changed your mind about what that ideal place...

Despite the downturn of the property market in Cyprus and the world financial crisis, the high-end properties are still selling. In the Paphos market where the smaller one and two bedrooms are in excess, we are in need of some spacious and luxurious homes. The majority of buyers that we currently see are not seeking the small homes but, rather sprawling and exquisite villas with all the bells and...

January 5th seemed like the beginning of the new business year as all of a sudden we got an influx of potential buyers. After almost complete silence during the weeks leading up to Christmas and afterward, I was happy to start getting back into the swing of things again.  The business was not as slow as last year, but slow enough to make me consider how bad the housing crisis will affect Cyprus. All...

Builders and developers in Cyprus have been getting a bad press due to the “process” to acquire title deeds which can take up to 10 years or more! One would assume that anyone that pays for their property in full and upon completion of the property the title deeds would be issued. However, this is not the case and I will explain what can happen and how to safeguard your self when buying property in...

There are no “quick sales” in this market unless you are extremely lucky or give your property away.  A “quick sale” in this market is realistically around 6 months. Some homes have now been on the market for 3 years and more! There are ways to move your property in this market and there are ways to sabotage a sale – after you read this you can make the necessary changes or give your self a...

As Cyprus joins the United Kingdom and most of the world’s property and financial markets downward slide, we are beginning to experience the effect of the current crisis. The word in Cyprus until recently was that the problem will not have an effect or very minimal effect on Cyprus. People in the business of finance, property sales, developers and tourism - basically Cyprus’s whole economy - started to...

Why do sellers in Cyprus lower their prices and not tell all agents simultaneously? The question of why sellers price their homes way over what they are willing to accept seems obvious and I won't go into that now!  As an agent in Paphos, who charges a very low and competitive rate, I would assume that my sellers would want to ensure that their home is listed with me at the same price as all other...

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...