Daily Mail article -End of the Eldorado dream

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
20/12/2008 18:59

Worth a read. Happening in NC?

http://www.dailymail.co.uk/news/worldnews/article-1098865/End-Eldorado-dream-A-plunging-pound-property-crash-left-thousands-expat-Britons-breadline.html

The-Wicks


Joined: 27/05/2007
Posts: 2279

Message Posted:
20/12/2008 19:07

Read this article this morning and had a phone call this afternoon from a friend who has a holiday home in Southern Spain. She confirms that friends and neighbours of theirs are indeed in dire straits (no, NOT the group). These seem mainly the people who sold up in GB and moved to Spain hoping for a better life. Minde you, although N.C. is not in the Eurozone, how many people in N.C. finding themselves in the same boat, having underestimated the steep rise in the cost of living over the last few years?

Very worrying for a lot of people I would say.

J

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
20/12/2008 19:38

Compared to the situation being faced by those already struggling to make ends meet who occupy exchange property, these guys are in the lap of luxury.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
21/12/2008 08:53

trust good old Pike to cheer up up !

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
21/12/2008 10:11

thats just pike's way of saying happy christmas! lol.

frontalman



Joined: 28/02/2008
Posts: 499

Message Posted:
21/12/2008 10:54

We're not quite in the same position, thanks to the comparatrive weakness in the Lira, which is likely to weaken further given their need to cut interest rates.

kenny b


Joined: 12/09/2008
Posts: 211

Message Posted:
22/12/2008 02:07

Spoke to a number of ex pats and bar/restaurant owners in Tenerife last week and thay are all in the same boat thats euro zone for you.

Long live the Lira

kenny

brian24001


Joined: 23/03/2008
Posts: 606

Message Posted:
22/12/2008 11:53

I wonder how many of the smarter estate agents will be hitting the Spanish/Portugese BB's to plug their web sites, property and cost of living prices here in NC (i'm betting none).

For a person currently renting in Spain/Canaries etc, a move toNC, with much lower rents, cheaper grocery shopping, 16+% on cash in bank etc would seem like a good move with pension etc going a lot further, and of course little of the dreaded euro effect.

For the economy here, it would result in a surge in incomes for business' and supermarkets, and all the government have to do to bring in huge amounts of cash from outside the area is make things a little easier to achieve, like residence, PTB (for anyone wanting to buy), etc.



This euro problem has a long way to run yet, with Irish shoppers from Eire crossing to shop in NI, I see many hundreds of Eire supermarkets and small shops within 1-2 hours of the Irish border going under as the money goes north.

reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
22/12/2008 11:59

With the current exchange rates I see Turkey and Northern Cyprus as THE holiday hot spots for 2009 and beyond....this will no doubt be fantastic for all local businesses, Hotels and the tourist trade.



I also recall other threads on here claiming people are leaving TRNC in their droves, well it seems like this isnt an isloated case....its happening all over the Med...the World in fact.



Repro.

david9


Joined: 09/09/2008
Posts: 358

Message Posted:
22/12/2008 12:28

Reply to Frontalman message 6



The Lira is not weak just now it's strong

lobylud


Joined: 14/10/2007
Posts: 242

Message Posted:
23/12/2008 00:06

This isn't anything to do with the Daily Mail article but just to say that nobody has so far mentioned the article in the holiday supplement in the Sunday Mirror.

It was a report on a winter holiday in North Cyprus, the people had a great time and would certainly come back to NC for another holiday.

It was a two page spread inside but on the cover there was no mention of the article inside, which is strange!

The other thing I noticed was that it said car hire started from £70 per day.

Very excessive in my experience.

The other thing it said was the boat trip they went on was good but it gave the cost as £50 per person which included the meal and free drinks.

Now when I've been on the boat trips I've paid about £20 per person which granted didn't include drinks.

Did anybody else see the article.

W

frontalman



Joined: 28/02/2008
Posts: 499

Message Posted:
23/12/2008 13:26

David9, I said 'comparatively'.



The Lira is no longer 1.20 to dollar and 1.70 to Euro is it?



It's the pound's weakness that makes the Lira look strong to Brits.