Paphos real estate prices

Hi! I read the prices for luxury real estate will likely go down, but that does not affect us.

What about middle-class accommodations? Like a penthouse/small row house in Tombs of the Kings. In some places, I read prices will go up because people moved to Cyprus before Brexit so eventually they will buy. In another places, I read several people will leave Cyprus due to Brexit...

No one has the final answer of course, but if you have some insights, they would be very helpful. Current budget is quite tight and subject to mortgage etc. Let's say around Euro 100k to 130k for a real estate where the owner has the deeds.

Thanks

By no means guaranteed but my gut feeling is prices will drop a little and your budget should allow you to get a  nice two bedroom apartment or a townhouse.  Facebooks market place is a good start to gauge prices and what you can get..
But best advice i can give you is dont buy without being here for a good while  - rent first for maybe 6 months to give you time to get to know areas etc dont rush it if you make the wrong choice you could be lumbered with a property neither you nor anyones else wants

good luck

Hope you're correct Toon - we are on several mailing lists and unfortunately not seeing price drops :(

I did expect to see prices dropping due to the reported floid of expats heading home due to brexit etc.

Hopefully it's just the market being over optimistic and slow to react.....

i think one has to temper that with real sales and offers on properties...  Like you I dont see a lot of price reductions being advertised but in reality i think properties are selling at less than advertised prices... plus its early days I dont think the brexit issues and the expected exodus has even started yet. I can say that Ive heard of some people leaving but not a lot - selling up and leaving takes a lot of time and negotiations can easily be extended in the hope of getting a better offer.

Again like you we are hoping to see reductions - purely personal of course.

Thank you both! So FB better than Bazaraki etc. to see where demand/offer is going?

i would use both

I think that the real estate prices in Cyprus can reach the low in the end of 2021 or later.

It depends on how the politicians will act and how the economy will develop. They can always find a way to delay it.

But I assume that at some point there will be a big price drop before it goes up again.