17/12/2008
The property market is not dead
To say there is a noticeable downtown in property sales is an understatement and there is very mixed reports coming from the property industry over sales figures and indeed most has downsized their operations to deal with the present so called slump.
Cyprus property companies have long been known to take full advantage of the tourist trade and now that the tourist trade has all but dried up because of the current credit crisis means that the only trade left is the local one. The strange thing is that this market place has not changed with property being brought and sold to residents of Cyprus at the same rate if not better than before the so called credit crisis started.
Kypros property can see an increase in this so called ‘Genuine Sales’ due to competitiveness in the market place providing that the property industry starts to work together and offer fare and competitive prices to its customers.
Other emerging markets seem to be in the land sector with the government now declaring that they will suspend issuing building permission or rezoning of land, this is not only going to force the price of land up it will also create a market in the Cypriot sector for land to build dowry houses as they will no longer be able to obtain permission for land they already own.
As mentioned before, the only thing holding the property market back from succeeding is their lack in forward thinking here at Kypros property we aim to do the forward thinking on your behalf, simply subscribe to us and let us do the hard work.
Dave Roach
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1/21/2009