lynnc

Hi could anyone tell me the house prices at the moment im looking for a house with pool three bedrooms in the xylfagou area. also if there is alot of newbuilds resales and if known what is the market like at the moment as like in england things are not selling also what would be looking at paying for a three bed
thank you

Honest_H

Hi Lynnc,

My advice is not to buy, but to rent.

When we bought our house we had this view that it was a waste of money to rent.

Now we have a house that has been illegally built, we can't sell it, and so are stuck.

We would like to go back to the UK, but given the situation, its going to be hard.

There isn't even a possibiblity to rent it out as it doesn't have a proper electric supply, telephone or water.

There are so many issues when buying a house here.

So, rent, see if you settle, if not you can go home quickly, if you do settle, ask around for a good lawyer, (don't take a recommendation from the developer), and make sure he does his job.

Sounds off putting, but, I wish someone had advised us before we came out.

Its great living here, but you have to be careful.

the market isn't as bad as the UK, but it could work in your favour to rent for a while, see if the prices drop more and then buy.

lynnc

Thanks honest
so sorry to hear your bad news i know you have to be careful with builders and have decided renting first is the more sensible thing to do thanx again
lynn

Honest_H

Lynn

So pleased, it will best best all round. When you decide to buy, you will be here, which will make things a lot easier, you can do your own research instead of relying on others.

I hope your move goes well.

Oleander321

Good advice from Honest H. I've said as much on another of your threads Lynn. I'd like to add that, even renting,, it would pay you to check out whoever it is you are leasing from. I narrowly averted disaster with a rental when it turned out that the Property Management Company I rented from (paying a year's rent up front - not unusual to do that to get a good deal on the rent) scarpered with the money, not passing any of it onto the UK owners of the property. I knew nothing until the owners turned up in Cyprus trying to track him down. Fortunately they were lovely people and my tenancy remained secure.

Expatinfo

Cyprus is quite funny with property, in the sense that people seem to predominantly like 'new builds', and seem to shun resale properties......its a consideration, as if you buy and want to sell later down the line, you need you exit strategy.

Prices rocketed around that area around 2001/2003, and I suspect they're still pretty high. A few places worth checking are BuySellCyprus, and if you want some good advice from a reputable local agent, try Photiou Estates in Paralimni/ Protaras area - they do rentals + sales.

Hope this helps

Oleander321

Looking on Buy Sell Cyprus Website a couple of days ago I spotted an announcement they are no longer dealing with rentals and would, be publishing the phone numbers of owners of the rental properties they had on their site.

I see today they have done this.

liliand

Thank you for that good advice too - its perhaps better to arrive in Cyprus and look round first, even to rent. We are not comfortable with renting unseen, and paying all the rental costs up front before we arrive. Your blog confirms this view.
Lilian

Nic1

I would advise absolutely against handing out a years rent in advance - you can get great deals on rentals just now where you pay on a month by month basis. I would suggest trying to get s hort term let first so you have the option to move if you don't like the house/area - gives you time to look around.

N

Veronica-K

For anyone wanting to buy the best deals are resales, especially if they have title deeds. In the last few months many vendors have slashed their prices and there are now a lot of bargains to be had.
Do your research, if a property hasnt got title deeds yet ask if it has an AX number.
This can then be checked at the land registry to see what the situation is regarding title deeds.
At least with a resale you know exactly what you have provided it checks out ok with the land registry.

zygiman

In the current situation in Cyprus, it is far better to rent first. You can find so many good deals at the moment. Times are hard in Cyprus, and finding work may be a problem. It is not the happy place it was, with the crisis hitting Cyprus later than the the UK.
See if you still like it still, and if you do, you will have plenty of time to find the right place to buy. Just be very careful when you buy. Check if there are title deeds, and all the regulations have been met.