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Purchasing property In Cyprus

Purchasing property In Cyprus

Old Apr 6th 2011, 8:47 pm
  #16  
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Default Re: Purchasing property In Cyprus

Originally Posted by zygiman
Yes, Limassol being a business centre and having a lot of Russians living there, many quite wealthy, seems to be bucking the trend.
Property prices in Limassol are ludicrous Anyone would think it was Monte Carlo
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Old Apr 6th 2011, 8:59 pm
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Default Re: Purchasing property In Cyprus

Limassol is holding it's own regarding property prices, prices have not dropped so much. There must be a reason why so many wealthy people choose to live there. Probably being the business centre of Cyprus and the quality of life. The Limassol Marina is going to compete with many Marinas accross the world. Cyprus being a tax paradise too, with many companies registered in Limassol, attracts the money, which in turn filters through to the local economy, as regards employment, social life, and property prices.

Last edited by zygiman; Apr 6th 2011 at 9:02 pm.
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Old Apr 6th 2011, 9:03 pm
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Default Re: Purchasing property In Cyprus

They're welcome to it. I hate Limassol. I used to love it when I lived there many years ago but it has got far too big. The outskirts are downright ugly and the traffic is scary.
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Old Apr 7th 2011, 5:51 am
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Default Re: Purchasing property In Cyprus

Originally Posted by Veronica-K
They're welcome to it. I hate Limassol. I used to love it when I lived there many years ago but it has got far too big. The outskirts are downright ugly and the traffic is scary.
There is a lot of European Union funds availabe for the Limassol Municipality, and they are doing a grand job of renovating and refurbishing the Old Town, coast road, bicycle lanes, recreational areas etc, so a lot of improvements going on.
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Old Apr 8th 2011, 4:40 am
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Default Re: Purchasing property In Cyprus

Mandria was a perfect place for us to live as we could enjoy living in Paphos but could easily take the kids to Limassol to walk along the coast and use our bikes. There just isn't that long of a child-friendly path in Paphos. Plus they liked the municipal park there when the little train is running. Both cities definitely have advantages.
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Old Apr 21st 2011, 7:49 am
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Default Re: Purchasing property In Cyprus

Originally Posted by zygiman
The idea of purchasing a home anywhere, will probably be the most expensive decision in your lifetime. There are many problems with purchasing property in Cyprus, well documented in this forum. I for one, would certainly walk away from any property being offered to me without a title deed, no matter how cheap it is, there are so many properties on the market with title deeds, why get involved in potential future problems, where you may lose your home and have paid in full for your home.
Registered Estate Agents, must follow a law in Cyprus http://www.rearboard.com.cy/Binder12.pdf This law is in the process of changing, but it is still law.
If i were to purchase a property in Cyprus, i would check the registration number of the Estate Agent, and use an independent lawyer before purchasing a property in Cyprus, just my opinion on property purchase in Cyprus, with advice from my Cyprus lawyer.
There is another organisation that is highly respected in Cyprus, and around the world, with regards to purchasing property in Cyprus.
The Association of International Property Professionals (AIPP) is an organisation that requires people dealing in property to be regulated and follow certain procedures. If they breach these rules, they can be fined for instance http://www.aipp.org.uk/industry/disciplinary-procedure/
In my opinion, if people just take care with who they deal with, they can save themselves a lot of problems.
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