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First time buyers https://paphospeople.com/ppforum/viewtopic.php?f=47&t=5812	Page 1 of 1

Author:	discopants [ Fri Nov 14, 2008 11:40 pm ]
Post subject:	First time buyers
As you may know w e are planning to come over to Cyprus in just over a year to rent with the hope of buying. To do this we have to sell here eventually. Our intention was to give our 2 adult kids who still live with us a deposit to help them get on the property ladder. Well forget £10,000 deposit, they are gonna be needing nearer £20,000/£25,000 each. Thanks very much. That's all. No it isn't, cos 12 months ago I was thinking I had a house valued at £250,000 and was giving both kids £10,000 each. Now I have a house valued at £200,000 and I will be giving the kids £25,000 each. Yes that's an £80,000 loss to me. Just a sobering thought that I thought I would share with you. Gary

Author:	Captain Fantastic [ Sat Nov 15, 2008 12:15 pm ]
Post subject:	Re: First time buyers
To rub salt into the wound, this time last year your 200k Sterling would have bought you around 290,000 Euros - as of today you would only be getting 234,000..... Was watching a program the other night about UK property prices long term, and they reckoned right now you would be far better investing your deposit money elsewhere and renting - seems it will be several years before prices get back to the levels we've seen recently.

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