current state of property market/prices etc?

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
12/05/2009 17:21

I'm coming over soon to take a look at some different types of properties in various locations in NC,Obviously there has been some impact i would of thought on what has happened within rest of europe and usa as regards property,when speaking to several estate agents over the last few weeks,some are saying that the market is holding its own and others saying its bouyant,none of them are admitting that prices are in decline and sales have been drying up,with the latter being my gut feeling of whats currently happening over there.I'm already committed to purchasing a property albeit way behind schedule,which i shall be viewing again when i'm over there.I would assume its definately a buyers market at the moment and contrarian investing would say invest when the clouds are darkest,my question is to the people who reside in NC,what is the current state of the market at the moment and over the last 12 months or so? No Bulls..t please,just honest opinion. thankyou in advance. sporty

batgirl


Joined: 04/02/2009
Posts: 676

Message Posted:
12/05/2009 17:23

Nobody is selling anything!!!!!!!!!!!!!!!!!!!!

Thinker


Joined: 11/11/2008
Posts: 169

Message Posted:
12/05/2009 17:31

Yes, it is a buyers market at present. Maybe if you do your research beforehand etc you can land yourself a bargain but make sure you take the time to check things out before you actually purchase.

CyprusChill


Joined: 08/05/2009
Posts: 666

Message Posted:
12/05/2009 17:38

Very Very Bouyant Market Area - The future remains rosy, resales are few and far between once completed and furnished ... who would want to let go. Location, Location, natural beauty, people, unspoilt and the Lira ..

Once the water pipe line gets installed with the liquid gold and the direct flights get the go ahead 18/05/09 as an equal right. No rush though and many have all the time in the world, whats' the rush ..

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
12/05/2009 19:33

Dear Sporty



I buy / sell / rent in NC, I am in NC between 14th to 19th May to buy more.



contact me via scw@freshice.net if you require advice



best regards

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
12/05/2009 19:39

good old Stuart - last time i heard such confidence was when they said Hitler wouldn't invade Poland.....





Nick

rtddci


Joined: 29/12/2007
Posts: 842

Message Posted:
12/05/2009 19:39

Sporty

Just mention the Orams case to the estate agents. Better still, look up the threads on this forum that mention the Orams. Then report back on what you think the state of the property market is now likely to be...

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
12/05/2009 19:41

Also....ask any estate agent or developer if you can pay a small deposit to secure a property and then wait until you get your Permission To Purchase to pay the balance.



After all....this is what the TRNC government say you must do !

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
12/05/2009 19:50

Wait see what happens later in the year with the Oram's and reunification talks. Prices will drop just hold out for a little longer.

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
12/05/2009 19:55

Dear NNick....sorry I was not around at the time of Hitler...was it a good time to buy?



I assume that whilst Turkey had troops moving southwards in 74?....there were property bargains to be had in the south?

cornish



Joined: 30/12/2008
Posts: 186

Message Posted:
12/05/2009 22:16

Market is generally depressed and there are some great bargains to be had: Contact me: TRNCinfo@gmail.com and I'll let you have some uefull contact details.

sienna


Joined: 09/01/2009
Posts: 1627

Message Posted:
12/05/2009 22:23

If you are goingto buy don't buy off plan buy a resale or house/apartment that is up and finished !

then gather as much information and make a choice whether to go ahead on the results of your fact finding mission.



Good luck

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
12/05/2009 22:25

Cheap as chips



You get what you pay for, buy cheap and you get what you paid for.



The good property in good locations isnt any cheaper and is very unlikely to be regardless of any court judgements as nobody is panicking.

halffull


Joined: 26/01/2009
Posts: 571

Message Posted:
12/05/2009 22:29

Hi Sporty, we managed to negotiate a 10% discount on our apartment because of the depressed market.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
12/05/2009 22:31

Severely negativenick



'good old Stuart - last time i heard such confidence was when they said Hitler wouldn't invade Poland.....'



'He who dares wins'



You would never make a 'Richard Branson'

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
12/05/2009 22:58

Nobody told me Hitler invaded Poland !



Has anyone told the Pope!

frontalman



Joined: 28/02/2008
Posts: 499

Message Posted:
13/05/2009 01:19

Well he's German anyway, you been asleep for the last few years?

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
13/05/2009 02:38

blimey you lot have been busy,i pop out for a game of cricket,which we won!,then quick shower and off to a hotel for the mayor's 60th birthday party,come back and got 17 posts!you have been productive,i'll email the 2 people who left they're contact details tomorrow.Thanks for the advice,done quite a lot of research/contacting the last week or 2. If i spot a bargain i'd go for it regardless of orams case etc, i dont trust estate agents in uk let alone in NC,i dont get screwed over that often when it comes to property,although i did lose 40k once buying into a hotel chain in florida,that one hurt a bit i must admit,but you live by the sword and you die by the sword!Its only money,a tool.Most people always hold off for the perfect opportunity or the perfect plot,in the end they end up doing nothing. Its called the paralysis of analysis,personally i'd rather try something great and fail than try nothing and succeed at that. 130m2,3bed new apt,central kyrenia,47k is best i've found so far?

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
13/05/2009 08:10

dear Sporty



Sounds reasonable, not the best value...aim to get it lower and, get them to include AC and white goods

Is it finished?

If not, who is the developer

madmart


Joined: 06/04/2009
Posts: 53

Message Posted:
13/05/2009 09:05

Hi Sporty, take a look at http://www.lcmservices.net . This Company offers a secure system of purchasing property in the T.R.N.C.

madmart


Joined: 06/04/2009
Posts: 53

Message Posted:
13/05/2009 09:09

Sorry, i meant to add. This company specialises in off plan and part built properties.

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
13/05/2009 19:19

hi madmart Thanks for that and i've saved they're site in my favorites,did you use them? If i decide to purchase offplan instead of something thats already finished i will probably contact them about it.



stewart,its finished and its the last one left in the block so the guy is open to offers on it,dont know who the developer is as yet,i'm going to take look when i'm over in 2 wks time. I'll email you.

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
13/05/2009 20:10

RENT,RENT,RENT,RENT ETC.......

rtddci


Joined: 29/12/2007
Posts: 842

Message Posted:
13/05/2009 20:45

sporty

Your Florida experience will seem a walk in the park compared with what could happen to you in NC. You no doubt are very business savvy and street wise but boy oh boy so were hundreds of others who thought the same and still got burned. Remember you cannot trust anyone in NC especially lawyers & estate agents. One ripped off, there is no reputable legal system neither courts or police to help you. The whole system is corrupt and designed to suck you in with a smile. With any gambling scenario (and thats basically what buying property in NC boils down to) there will be those who tell you that they played the system and won but who is the real overall winner in a casino?

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
13/05/2009 21:09

i would never invest what i couldnt afford to lose,in a few years time when the kids have flown the nest i want to spend sept-april in NC,lets face it even if there was a compensation package,it wouldnt be the end of the world would it,i mean the land/property is so cheap,it would probably only bring it up to what we should have paid anyway. People could easily argue the fact that villas etc,were built on mainly farmland which is cheap as chips,apartment blocks would be even less as costs would be shared etc,obviously only my opinion of course,i just love the place and i want a part of it warts n all.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
13/05/2009 21:17

Sporty....no offence,but is someone paying you to bring your unfettered optimism on here in the wake of recent events?

I'm all for a bit of positive thinking amidst the doom and gloom (or reality as it is known),but it seems to me that a few new posters have suddenly appeared with a TRNC promotion agenda.



I like NC...I've bought a place here...but it doesn't mean I close my eyes to the facts.

halffull


Joined: 26/01/2009
Posts: 571

Message Posted:
13/05/2009 22:01

you complain about TRNC but what happens here is the norm for lots of countries in the area and better than a lot, at least their not coming along and bulldozing your property with no redress because they changed the rules about ownership and land usage! If you can't appreciate the way the system works in these countries why are you here? Tried getting anything in the UK recently? Even bigger rip off and flustrating!

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
13/05/2009 22:08

Halffull....if you can convince me that the property system in NC is better than most,then I'm willing to listen.

But throwaway comments like yours can be misleading for those considering a purchase.

How can you favourably compare buying in NC with buying in UK?

It may be frustrating in the UK,and estate agents are the same the world over,but at least in the UK you have recourse to laws which are there to protect you.

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
13/05/2009 22:13

ref cronos post- you'll see i'm not a new poster,i joined 18months ago,i can assure you my friend my optimism is mine and mine alone,if anything, i should be the negative one because my property i paid a deposit on is still a shell and may not be finished for years,so if i purchase again i'll be paying cash,on a finished property that i can use immediately,i just dont let it get me down my friend.

halffull


Joined: 26/01/2009
Posts: 571

Message Posted:
13/05/2009 22:26

Sorry cronos, when I referred to getting anything in the UK i didn't mean buying a property as I will agree buying property in the uk is a lot safer, the uk remark was aimed at improvements and local authorities, very misleading of me. But the rest was refering to buying abroad.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
13/05/2009 22:31

No problem Halffull.....my intention is not to discredit the TRNC...just to state facts and make sure people are fully aware of the pitfalls so that they can make an informed decision dependant on their particular adversity to risk !

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
13/05/2009 23:41

nothings really changed, still consider price, risk , potential profit /loss compared to other forms of investment, if loss can one afford it.