jeba wrote: ↑Sat Apr 15, 2017 10:42 am
On the other hand the drop of the pound against the Euro might incentivise potential sellers since in pound terms they might still get a good price now while on the other hand cost of living in Cyprus increased for the same reason (assuming they get their income in pounds).
Agree with you, Jeba. For the British seller in Cyprus the weak pound is actually good. Of course, for British buyers it is very bad.
And that, along with the uncertainty of Brexit, is why the British are deserting their continental European homes (statistics available for Spain, show the Brits are leaving in big numbers. )
So who will replace the British for the next few years? The Chinese and Arabs will certainly move in, and statistics in Spain are showing that. But I expect also to see more German, Austrian and Dutch buyers. As prices continue to fall in Euros (or are at least stable), then properties in Spain, Cyprus, and other eurozone countries, are reasonably attractive.
How long will the uncertainty last?
The trade negotiations with Canada took 7 years. Those with Britain are going to be much more complicated.
One bright spot for potential British buyers - inflation is increasing in the UK. If that continues the Bank of England will increase interest rates and the pound will strengthen; making Cyprus property a little cheaper in relative terms.
One aside. I understand you are German, or Austrian? Do Germans have an Easter greeting? Like in Greece, they say "Christ is risen", or the Russians with "Cristos Voskres". ? Whatever, Happy Easter. )