It’s already mid 2009 and property forecasts continue to be gloomy. Many developers in Paphos have been affected severely and whilst the building activity has not ground to a complete stop, many leading firms have downed tools, retrenched personnel and have battened down the hatches to wait out the slowdown. 
However selling and buying property continues in a certain niche market. After many years of healthy growth in the property market the resale market has finally come into its own. Fitzgerald Estates are re-sale specialists and according to Daryl Fitzgerald the owner, ”We are very busy at the moment with people wanting to buy or sell their property. In fact, in the 6 years that we have been in business, we are the busiest we have ever been”.
British nationals are still by far the largest group of foreign property owners and buyers. Buyers seem to think that prices will reduce even further and are keen to get the most for their money. Most sellers have realised that the Cyprus property bubble has come to an end, but some have to accept the reality that they paid too much for their properties in the first place and therefore need to adjust their prices accordingly.
As a successful property marketing company, we know the ‘pulse’ of the market and have the ‘know-how’ to achieve excellent results for clients in the Paphos area. We can see that the Paphos property market has bottomed out and will slowly increase in the months ahead.
Why? There are two main reasons for this.
Firstly, the housing market in the UK seems to be picking up because of low interest rates. This has a knock-on effect here in Cyprus as many people are leaving the UK to live in sunny countries and we are now seeing a big increase in serious enquiries, viewings and sales.
Secondly, the property market in Paphos is remarkably stable because most people do not have to sell. Of course, some people who bought from new in the last few years, with the promise of “good rental returns” and “high resale values” and who borrowed heavily to finance their purchase, may have to sell.
As resale specialists we know that there are great opportunities in the market place for both sellers and buyers. Developers may be facing a tough year, but interest in re-sales is increasing from all quarters. 
“We are looking for another good year”, says Daryl. We have a great selection of Cyprus Real Estate. We have a wide variety of Cyprus Real Estate on our website, including Cyprus Real Estate over the entire Paphos area. We have the property for you, whether it be a villa, townhouse or apartment, our Cyprus Real Estate listings will find the right property for you.
Our Cyprus Real Estate listings are easily searchable and clicking here will bring up all of the properties we have and also give you the ability to narrow the selection of Cyprus Real Estate by using the search options. You will find a wide variety of information on each property such as pictures, floor plans, location. You will also find currency converters in order to calculate the prices of the houses into your own currency.
If you require any further information on Cyprus Real Estate, don’t hesitate to contact us using the contact form.