Property Crash??

Reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
29/06/2008 00:02

As we all know the UK is in the middle of a property crash as the global credit crunch worsens. So what effect will this have on house prices in TRNC? As most buyers are Brits, surly not being able to draw out the equity from falling house prices will prevent people from investing abroad and not only TRNC but all over the med?

And as TRNC has the extra baggage of risk involved surly this will be the last place to invest in this uncertain economic times?

kavenkoy


Joined: 10/04/2008
Posts: 1787

Message Posted:
29/06/2008 08:34

all doom and gloom with you reproman



still the best place for me to invest in .



its great in the trnc so lets hope all the rest of the world stays away whilst they are crunching their credit .



lets keep smiling in the trnc,this place has been through harder times and seems ok .







kav

Dixie Normus


Joined: 22/02/2008
Posts: 820

Message Posted:
29/06/2008 09:14

Hi Reproman, Fully agree with what you say with regard to Brit buyers, a fair few Ruskies and Skandys are now throwing their bit in to the property market here, no doubt the winter period will be the crunch time for the market and we may see a few bargains . Most estate agents (with the blinkers on ) will tell you prices will rise but they are feathering thier own as usual, as Kavenkoy says, nice place, but I think its best times property wise are past.

tonyhickey



Joined: 13/06/2007
Posts: 413

Message Posted:
29/06/2008 13:14

Invest in property and make a bucket full of cash all helped with cheap loans on the never never. Common sense tells us those days are gone . But its still a great time to invest in property If you are looking for a holiday home < retirement home on a beautiful Mediterranean island .Remember property booms may come and go but at the end of the day its about QUALITY of life

and we have it by the bucketful here

tony

rtddci


Joined: 29/12/2007
Posts: 842

Message Posted:
29/06/2008 21:35

I think that the great financial chill has yet to fully hit the TRNC although it has started. This summer will be an example of that if tourism continues to decline. İ dont think the TRNC policies towards the British (non Cypriot) re property ownership i.e.permissıon to purchase helps.

Dixie Normus


Joined: 22/02/2008
Posts: 820

Message Posted:
30/06/2008 11:44

When it comes down to shooting yourself in the foot, the system here with regard to property purchase, company ownership, and importing goods does nothing to encourage investment into the TRNC. I believe it will take at least 5 to 7 years before we see any changes that will start to make property here a worthwhile investment.Ok for holiday homes and retiring, but other places offer better value.

A recent trip to the Turkish med coast opened my eyes, property prices were good value, no land issues, cleaner enviroment , a standard of living, on par with the TRNC Cheaper elec, and more water than they no what to do with, I would love to see the TRNC achive what the mainland has, but with the present corrupt and overburdened state system, snail pace is as fast as we are ever going to get.

Biker



Joined: 11/01/2008
Posts: 396

Message Posted:
30/06/2008 14:00

TRNC is not a stock market,and should not be treated as a place to buy and sell to make a quick buck.



One should only be prepared to buy if they like to live here.



Biker

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
30/06/2008 14:16

I agree with Dixie, at least 5 years.

But the price of property in TRNC cannot get any lower than it is. You might have more difficulty in selling because there are not as many people with spare funds many of whom have been talked into beleiving this fact by the newspapers.

Also agree with biker that at the moment nobody is buying to speculate in TRNC unless they know something we don't know! But nobody likes to think that their assets are not worth what they thought they were a few months ago. Even though what they thought they were worth was what their estate agent had told them they would be worth soon.

beach resort


Joined: 15/03/2008
Posts: 25

Message Posted:
30/06/2008 21:55

the prices are great if you go out there to live but as a investment you got no chance, if the north opens up to the world we might have a chance...