property prices

reado


Joined: 05/08/2007
Posts: 14

Message Posted:
20/03/2008 20:20

Hi all does any body know how property prices are at the moment are they falling as in the UK and is there a lack of buyers in the resale market.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
20/03/2008 22:56

Definately a lack of buyers. Not sure that property prices are falling but more builders willing to take lower offers. Lots of unsold property. read somewhere that sales are down by 40%.Without doubt the bad publicity and uncertainty is to blame. This is a shame because the TRNC could have picked up customers reluctant to buy in what were the most popular areas like Spain, but are now seen as unsafe because of land grabs and corruption.

rtddci


Joined: 29/12/2007
Posts: 842

Message Posted:
21/03/2008 03:14

Have to agree with Bradus. Due to the current and historical situation with regards lack of legal safeguards for buyers, allegedly corrupt/incompetant lawyers, lack of legal redress through the courts, allegedly corrupt and or bullying and or lying builders/estate agents, building sites never completed, poor or incomplete finishing, builders refusing to pay their share of the VAT, builders blackmailing buyers for them to get their title deeds, builders selling to more than one buyer, builders taking out mortgages on properties they have already sold, failure by builders to obtain planning permission, supply water and electricty, or exhorbitant fees to connect electricity/water, buyers being refused permission to buy because they are allegedly near an army base or simply because the title is pre 74 Turkish (100% safe allegedly). Oh and the TRNC government changing the goal posts as it sees fit i.e. property tax and title registration. To say that greed, incompetance, stupidity and corruption has ruined the reputation of the TRNC and property market is probably a fair point. That is without the litter, power cuts, water rationing, bureacracy, car accidents and over charging of non locals.

Apart from those minor points jump in the waters loverly!

TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
21/03/2008 07:57

I have actually seen today a builder, Boray, now selling 2 of it's sites £10,000 cheaper. They were good value to start with (5 properties, 100m² villa and Communal Pool, close to Sunny Lane School) but they haven't sold. Maybe this is a sign to come?

odgy47


Joined: 04/01/2008
Posts: 75

Message Posted:
21/03/2008 10:20

hi tim do you have any info on those properties

Notsoboredhw


Joined: 15/03/2007
Posts: 1254

Message Posted:
21/03/2008 11:46

I have to say I think because of property prices in the UK and always the possibility of another recession(?) people are being very wary about buying property abroad hence why there are a lot of properties for sale in TRNC.

TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
21/03/2008 15:56

odgy47,



Information can be seen at:



http://www.northcypruspropertiesagent.com/north-cyprus/villas/86-boalv1-villa-in-alsancak/



This is one agent. There are others who may well have the same property. I do not endorse, in anyway, the business of Homeuyers Estate Agents. I only offer this link for you to see the property.

reado


Joined: 05/08/2007
Posts: 14

Message Posted:
22/03/2008 16:44

Thanks to you all for the info.