Property sales

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
30/10/2008 11:54

have just been looking through a couple of previous pages and there seems to be alot of peiople selling up.Is it becoming to expensive now or is itthe credit crunch having an effect .. would be interested to here what causes are.....

jock1



Joined: 06/01/2008
Posts: 3786

Message Posted:
30/10/2008 12:04

Coachie, Only they can answer that question.

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
30/10/2008 13:33

Coachie,



IMO it's people who would not normally have bought a lock-up garage back home let alone a foreign home realising they are completely out of their cultural and economic comfort zones. There will be a load of cheap properties for sale in coming months, many without title or a dodgy one at most.

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
30/10/2008 13:48

I am very interested as to why people are selling up in TRNC.

In one of my postings THINK BEFORE GOING BACK TO UK I highlighted that UK is heading for a serious recession the humbdinger of all and it will be bleak!



I would rather be in the sun in TRNC earning some money than miserable in rainy cold UK with no money and that shower of $hit Gordon Brown and his corrupt Government!!!!!!!!!!!



So why are you selling up TRNC Brits????



nunu

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
30/10/2008 14:07

Nunu 1..You certainly are not a happy bunny are you..I hope everything goes well for you inyour new venture in the TRNC but should it by any chance go belly up whats your next move!!!!!!

dixie normus


Joined: 22/02/2008
Posts: 820

Message Posted:
30/10/2008 14:59

Hi Coachie,



Ive come across a few that have realised that they have as many rights here as a snail, have been genraly crapped on by the world and his dog and have had enough off being ripped off by this racist backwater, add that to my hero pikey's comment and you have and idea why an exodus is gaining pace. Investors have realised the place is heading for a major hick up, the old storey of prices rising when an aggreement is sorted with the South has lost credibility and people are starting to see the place for what it is (rubbish infested sunshine backwater) as a mate of mine calls it. But each to there own, I love the place just forget about the rsoles running the joint.



D.N

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
30/10/2008 15:11

Dixie normus..Well you seem to be on top the situation,certainly some interesting comments ...thanks

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
30/10/2008 18:01

Some of you guys out there should see what a mess the old UK is in , its in a right mess thanks to Gordon Brown and company. Why do you want to come back here we are sinking as fast as the TITANIC and Captain Gordon has sold the life boats because they were an unnessary expense as there was going to be "no more boom or bust"

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
30/10/2008 18:25

Pike,



Reading msg 3 between the lines, I think you regard all ex-pat members of this board as Chav "council house and vulgar".



Am I right?

JimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
30/10/2008 18:34

Groucho from previous posts you clearly have a problem with Pike but why are you trying to put words in his mouth? Your reading between the lines is simply your interpretation of his words .....but it is not what he said.

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
30/10/2008 18:47

Groucho: "Pike, Reading msg 3 between the lines, I think you regard all ex-pat members of this board as Chav "council house and vulgar". Am I right?



No, but I think deep down you may feel like that.

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
30/10/2008 19:00

Everybody tarred with the same brush then Pikey



Usual clap trap

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
30/10/2008 19:07

This used to be a lovely site to post on!



wyn

JimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
30/10/2008 19:09

Have you been eating onions again Wyn?

BillyB


Joined: 19/05/2008
Posts: 436

Message Posted:
30/10/2008 19:12

My wife went back because she couldnt stand the sight of me anymore, said I was a lazy obnoxious selfish pig and that I was crap in bed. None of its true as my other four wives didnt mention it, well apart from the crap in bed bit. Still there loss.

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
30/10/2008 19:21

BillyB

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
30/10/2008 19:24

A quiet observation! Time will tell!



wyn

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
31/10/2008 00:11

What say you Wynn? You always have constructive dialogue?



Well I ask the question again for coachie, why are people selling up and wanting to get out of TRNC?



And yes Coachie I am not happy, I will gladly tell you my true story on the UK and how I have been treated and seen a very big negative change in the UK.



You People have seen nothing yet!......



nunu

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
31/10/2008 00:16

P.S. Coachie, as Bush Said, Failure is not an option!..............I have many ideas and positive visions for TRNC......



Time will tell and a saying that you will hear a lot of......Eehn Shallah!



nunu

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
31/10/2008 00:34

Nunu,



I believe people are returning to the UK because they think the good days of cheap living are over in the TRNC, that coupled with uncertainty bought about with the talks to try to solve the Cyprus Problem and the ramifications of any settlement.



What I do not think they may apprieciate is just how difficult things have become in the UK and frankly worse much worse to come. Those that survive this recession intact are going to have to repay all the borrowings this Government are taking on board.



If there is a settlement of sorts with The TRNC becoming a full member EEC as a united

Cyprus. I feel that it would auger well for the future of the island as a whole, but especially

the North, which is in dire need of investment that the EC would provide.



We intend to stay in the UK but hope to spend increasing amounts of time in the TRNC.



wyn

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
31/10/2008 00:48

Wyn, I would mirror your views entirely.

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
31/10/2008 00:59

Thank You Wyn,

Just needed your thoughts and rubber stamp on my beliefs that I totally agree on with you.



Britain, UK, England whatever we are now is really like a refuge truck dumping its load in the nearest quarry!



Thats all Gawdy Brown and his corrupt Merry men have been doin is borrowing money, lining their own pockets, making laws and legislation to suit their corrupt needs and passing the buck onto the hard working class in UK.



AS long as I live I will NEVER FORGIVE the NEW LABOUR government for the damage and selling off of Great Britain!



I hope you read this My Brown because yoy are a disgrace, corrupt and rotten to the core!....Youve had your hand in the Pension funds.....



THAT IS LIKE STEALING FROM YOUR LOVING GRANDPARENTS!



nunu

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
31/10/2008 01:15

We're all going to die....



































laughing.......... when they settle.



Because that’s how it goes with settlements, you don't get justice, you get compromise.



Reason? Too much has happened between grievance and restitution, land gets built on,the landscapes change, the old die and the young forget. No-one can turn the clock back. No injustice justives another, two negatives don't make a positive.



If you have bought property in North Cyprus, don't despair, nothing is going to happen. Why? Well, who else here inhabits property that was once GC owned?



Yes, the bulk of the Turkish Cypriots in the TRNC. Is any settlement going to loose them their homes?



Duhhhhhh!!! No, can't suss it! Its a hard one!



Hang on! Its No!



Q.E.D.



Lem

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
31/10/2008 02:08

although I don't agree with the sentiments of one notorious member who has already posted his views on this thread subject, I,m afraid I to are little bit critical of some who purchased probably off plan expecting a quick healthy return on investment once construction was completed, some of whom didn't plan for servicing borrowing and maintenance charges following handover in a stagnent / falling market and the possibility of no resale for a long period. This scenario is similar to the current 'buy to let' market difficulties in the UK.

Unfortunately as we all know this scenario has actually become reality in the TRNC and probably has been for upto 2years.Therefore sadly some buyers who have been experiencing these problems waiting for an upturn are now cutting their losses and trying to recoup as much as they can of their investment.

I think quite a few current resale properties fall into this category. Whatever my veiws,

I sincerely hope the talks outcome will help these owners

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
31/10/2008 06:04

Pike,



"it's people who would not normally have bought a lock-up garage back home let alone a foreign home realising they are completely out of their cultural and economic comfort zones"



What does this mean then? Or are lock-up garages 100k a pop where you live?



I think a lot of the people going back do not think it's become too expensive here... if they have they are in for a nasty shock.



The main reason I have come to realise is that...



1. Firsty and most importantly they can't make the living they thought they could... you are only meant to holiday or retire here.. At present it's almost impossible to run a business.. some notable exceptions but generally the homework has not been done...



2. They miss family and friends....

3. The have children whose education they need to think about..

4. They've left the realities of living in the UK in search of a better life, running away is no good.

5. Because of all of the above it's not the island paradise they imagined

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
31/10/2008 10:56

lemtich .you say



"'If you have bought property in North Cyprus, don't despair, nothing is going to happen. Why? Well, who else here inhabits property that was once GC owned?







Yes, the bulk of the Turkish Cypriots in the TRNC. Is any settlement going to loose them their homes?"



Had made that same point myself on prev posts ,but not so sure now.The way its going, if the south agree to allow TC's keeping their property if everybody else loses theirs,then I am beginning to think that desperate negotiators will agree.

I know that would be discriminatory, but that wouldnt be all that unusual

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
31/10/2008 11:40

i think it is very hard to survive here.

the cousin culture is alien to us, we are used to queing!

law and order is only available to the cypriot people (unless its a fine for something stupid.)

racism is full on.

how long can you beat someone with a big stick and they are going to take it?

the so called democracy here just doesn't exist.



to be honest i feel sorry for the average cypriot, and i hope they wake up and make the urgent changes need here very soon. otherwise they will be here on there own.

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
31/10/2008 12:48

Groucho Msg 25,



Your scenarios are valid, but the essentially most people got out of their depth and shouldn't have bought a holiday home in the first place. Many were tempted by small adds in the back of red top tabloids. My point is many didn't have the education and dare I say it the intelligence to properly research the background to North Cyprus and plot their personal forward planning. You know very well there are poor fools on here saying they trusted TRNC lawyers and put their faith in estate agents. Reading on the credibilityometer - barely a flicker.





Groucho: "What does this mean then? Or are lock-up garages 100k a pop where you live?"



I don't mean to be flippant, but I actually did sell a large lock-up garage in central Edinburgh and was able to buy a farmhouse and vineyard in Slovenia on the proceeds. It's no big deal if you've been buying and selling properties from a young age.

colly


Joined: 31/07/2008
Posts: 297

Message Posted:
31/10/2008 13:56

"This scenario is similar to the current 'buy to let' market difficulties in the UK."



Similar but in the UK at least you are able to let the property easily.



Col

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
31/10/2008 17:49

'easy to let in UK' hardly, landlord for 30years constantly seeking tenants, apart from those doing student lets similar problems with landlord associates.

Also currently masses of empty new apartments in major cities seeking tenants, owners now desperate to sell, many at a loss.

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
31/10/2008 18:04

Are sellers inthe TRNC having to sell there properties for less than they would normally expect because of this squeeze?I suppose those who are already committed to purchase could find it very tight indeed with falling prices of house sales here in the UK,no doubt what they thought they were going get from there sale of there UK home would dictate what they would do in TRNC. not a nice situation to be in at all,especially if they have to purchase a property when they come back to the UK...

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
31/10/2008 18:08

AS in the UK at the moment - it's a buyers market. Wait another 6 months and the prices will be falling even further.

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
31/10/2008 18:26

30% drop in england by next year could buy my old house back and for 120k less than we sold it for 12 months ago

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
31/10/2008 18:41

Pike "essentially most people got out of their depth"



Did you mean most of those returning to the UK or most ex-pats in Cyprus?



Of course there are those people who have property with a mortgage in the UK too and they are probably worried they are going to feel the pinch and want an escape route...



We sold up lock, stock and two kids, moved here and have never regretted it. We are committed to our life here and take steps to ensure we remain so.

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
31/10/2008 21:52

Groucho,



I mean the ones in Cyprus who are now having to sell in a hurry. When we started looking to buy about 10 years ago the sellers often cited medical reasons for selling and going home - and to be fair some were really crumbly and sometimes 50-odd years older than we were. But there's a whole new demographic for expats now and many are sucked up into the scenarios Coachie describes at Msg 31. I'm glad you don't regret your decision. But sometimes being outside looking in gives strategic advantages.

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
31/10/2008 22:04

deecyprus4..Sounds good in practical terms but for 2 things.



1.Would the person you sold your old house to sell it you back at a loss to himself of 120k

2.How much would you loose on your current property in Cyprus.

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
31/10/2008 23:55

falling prices in TRNC ? reality! at the moment nterested in Villa reduced from 170 to 130, but still looking for further discount.

bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
01/11/2008 00:01

Where abouts Paul?

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
01/11/2008 00:06

Is it on a development or a one off? If on a development, has anybody actually paid £170k for one? Any vendor can pluck a figure out of the air but it doesn't mean the property was ever worth that. I know people who have sold their property recently and got the price they wanted because they were realistic. In any case, it depends when you first bought. This particular couple still made about £50k profit.

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
01/11/2008 00:20

Sue, especially liked the bormat ones in Ozenkoy, but they wouldn't deal, currently negociating along lines mentioned on a couple of villas both north coast east side of Girne. Hopefully may reach deal when I return to TRNC later this month. Keep you posted.

regards

p

eboy665


Joined: 26/09/2008
Posts: 13

Message Posted:
01/11/2008 01:43

TRNC is still the place to invest , prices are falling all over the world . I was thinking of moving in the uk but you just need to sit tight at the moment, things im sure will turn round again. I think prices in the south are taking a bigger hit at the moment than the north. It is still great value for the price of property over here. With all the TRNCS faults its a loverly place and im proud to own over here , i wish i could say the same about england!!!

colly


Joined: 31/07/2008
Posts: 297

Message Posted:
01/11/2008 14:38

Certainly easier to let in UK than Cyprus on my experience. The supply and demand situation tends to work. If people cannot get a mortgage to buy houses then the number renting tends to increase. It is the same as selling if you have the right house in the right place then it should let. Builder friend with 8 flats just built could not sell them so now all let! Sure there may be times when it is difficult to find a tennant but you do get one in the end. How many houses are there for still for rent in TRNC? I have seen several builders that are trying without success to rent what they cannot sell.

I suppose it all depends on your past experiences.



Col

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
01/11/2008 17:33

I understand there is little protection for landlords in NC and a few members of this forum have had bad experiences . I advise anyone thinking of letting in NC to proceed with caution.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
01/11/2008 23:28

'Caution' is a good word for NC. I have to agree with DN above -



' Ive come across a few that have realised that they have as many rights here as a snail, have been genraly crapped on by the world and his dog and have had enough off being ripped off by this racist backwater, add that to my hero pikey's comment and you have and idea why an exodus is gaining pace. Investors have realised the place is heading for a major hick up, the old storey of prices rising when an aggreement is sorted with the South has lost credibility and people are starting to see the place for what it is (rubbish infested sunshine backwater) as a mate of mine calls it. But each to there own, I love the place just forget about the rsoles running the joint. '



Succinct and to the point.

What gets me is the lack of justice, blatant anti foreigner racism, the racist rule of law, the fraud, incompetent & corrupt lawyers, the litter, lack of infrastructure and the rip off culture that seems inbuilt.

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
02/11/2008 14:21

Hector ..It isnt any different on the mainland, all they want is your money....

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
02/11/2008 17:32

if you purchased for the right price and in the right area you shouldn't be loosing money anywhere, unless you need to sell or can't afford your mortgage.



i have been hearing loads of stories about people being refused a mortgage in the uk.

if you have always payed on time without default mortgage finance is available.



the property prices will in time go up, so where did you loose money?



its no different here in cyprus(apart from the mortgage) if you didn't stretch yourself you shouldn't need to sell.



i see the situation as a bonus, i can now afford my holiday home in the uk.lol.