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Cyprus Property News

Cyprus Resales respond to crisis by setting sales record.

Date: 02/09/13

Crisis? What Crisis?!

In the most difficult of times, despite the general problems with the Cypriot economy “Cyprus Resales”, the leading estate agents in Paphos, have again proved that demand for quality Cypriot properties with title deeds is undiminished. The performance of our agency over the last 6 months has been tremendous with many older listings finding new owners, while our new listings have often been sold within days of appearing on our award winning website. The macroeconomic climate in Cyprus is having little effect on both demand and prices for resort properties in Paphos. And the reasons are pretty obvious: 
1. The market for resort properties comes from overseas, not from within Cyprus.

2. Although access to mortgages is frozen, most overseas buyers prefer a cash sale.

3. The residential mortgage market froze over in November 2011, not during the March bail-in, thus minimal effect on current conditions.

4. Money frozen and bailed-in within Cypriot bank accounts would not have been typically used for resort property purchases. 

5. There is a remarkable shortage of quality deeded property at realistic prices.

Increasing our advertising expenditure in all our markets at the turn of the year reaped immediate rewards. Our strict listing criteria sometimes leaves potential sellers disappointed, but we have high standards and our properties must live up to them. We continue to monitor prices to ensure our properties are listed at real market value. When necessary our vendors are advised on adjustments to price.

Our website remains the place to go for quality reseals in the Paphos area and vendors know they will be treated fairly and with respect by our firm. “Cyprus Resales” are known for only advertising the very best and at realistic prices. When a “Cyprus Resales” for sale board is erected on a property it is a symbol of quality reassurance to both buyer and seller.

For anyone looking to buy or sell a quality property in the Paphos area the decision on what agency to use is an easy one. We look forward to meeting with you in our Paphos office to further discuss your requirements.

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7, Tombs Of the Kings Ave,
Paphos, Cyprus

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