Sherpa, are you an Aussie or did you move to Aus? I think a property where your dad is would be a great investment, if only I had the nerve to risk my house here....

No trace im not an Aussie Just a londoner helping out the colonials ........ yep always going to be some risk but if life were that easy everybody would be doing it i guess you will have to workout the numbers to see if you can perhaps rent one property out to service the loan you may need but my opinion is europe is just too expensive for many and those many will continue to seek out cheap parts of europe to live in there retirement so i only see growth for the longterm.

I am sure the turks would argue this with you ...........

Tracy my father bought a large slice of land about 20yrs ago for 15000 stirling he only built on one quarter of it and the rest is just open ground i suggested he should sub divide and sell but he wont ! He wished he had bought more land when it was cheap but i wished he had bought some flats in london because to me that would have been a better investment .

Flats in London would be a good investment especially as your dad appears to be able to sit on his investments long term. I think in about a years time when repossessed properties are being sold off and the housing market has hit rock bottom anyone with enough money to invest in British property will make a killing. I don't buy the idea that property will never hit the 'dizzying' heights of value which they have over the last few years, we have a boom and bust capitalist economy, this downturn is part of the cycle the trick is to sit it out, wait and don't panic! Few other countries have a housing market as bouyant as the UK's, I'm not sure it's entirely healthy, slow steady growth is always preferable but in a country where people are defined by their property and land ownership this will always happen.
Your dad probably has a lot less stress associated with his Cypriot investments!!

It will be interesting to see how low prices do go in london i myself may be tempted to buy if there are some real bargains .