News Hong Kong Property & Finance

Investing in Cyprus

ORIGINAL POST
Posted by traineeinvestor 12 yrs ago
SCMP Proeprty Post this morning included a piece on investing in Cyprus. Essentially, the case for buying in Cyprus is that things have been so bad (property prices down 40% from peak) that they can only get better from here.


http://www.scmp.com/property/international/article/1232392/lucky-real-company-hong-kong-seeks-buyers-homes-debt-hit


I think I will pass.

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COMMENTS
Loyd Grossman is Miss Venezuela 12 yrs ago
Yes, but it's hard to know what the correct price is.

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traineeinvestor 12 yrs ago
I doubt if anyone knows. There is still a distinct possibility that Cyprus will exit the Euro which would (obviously) be very bad news for anyone who purchased before the exit - especially if they had a mortgage denominated in Euros (or just about any currency for that matter).


That's actually a good point for anyone buying a property in a country which could exit the Euro - if it happens the result will be a little bit like people who borrowed to invest in Thai property before the Asian financial crisis.

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