# Is it my imagination?



## MacManiac (Jan 25, 2012)

In the run-up to our move to Cyprus, now only a couple of months away (steady now, I must be mature about this and not appear to be getting too excited) I have been trawling websites looking at long term rentals. I have been doing this for some months. Now we know that we shall probably find the right long term rental by driving around and seeing a sign on the side of a villa, ringing up the owner and doing a deal. We have a short-term let that will enable us to take our time.

But ... and I don't think this is my imagination ... I have noticed prices rising since the exchange rate between sterling and the euro started to rise. Villas I looked at a couple of months ago which were say €500 a month, now appear as €550 or even €600 a month. The websites are all priced in euros so it can't be that.

I doubt that it's the time of year (middle of high season) and I assume that there are still far more properties than prospective tenants (although I am happy to be proved wrong on both counts), so I was wondering whether it is me (always possible) or whether some owners are hiking their prices upwards as the pound now buys more euros than it has done for some time.

As I say, it may just be me but I wondered whether anyone else had noticed this, although if you are settled in Cyprus rental prices may not be your main focus in life.

As an aside, for those moving to the island in the near future, I emailed one agent regarding a property we liked the look of (just to enquire whether it was still available), and he responded pretty quickly saying that it was and would be happy to show us around in October. He even suggested that the price was negotiable. Now I can guess that, despite the lovely photographs, it is just behind the abbatoir and downwind from the sewage farm, and the next door neighbours keep a hundred hunting dogs in the garden, but I was surprised that an agent would be suggesting deals could be done. Private landlords ... maybe ... but agents (with an eye on their commission) ... unlikely.

Still time will tell.


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## PeteandSylv (Sep 24, 2008)

I guess when times are hard any deal is better than none. However it is the norm to negotiate a price. It is probably with this in mind that you may be seeing prices rise from those hoping to sell to the Chinese following the recent publicity.

Pete


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## Nigel Howarth (Aug 12, 2012)

I guess that some of the long-term rentals are for properties purchased by Brits who are looking for income to help offset their mortgage repayments by renting.

As the Euro has been weakening against Sterling, they will be wanting more money to offset the fall.

Rgds,


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## Veronica (Apr 5, 2008)

Nigel Howarth said:


> I guess that some of the long-term rentals are for properties purchased by Brits who are looking for income to help offset their mortgage repayments by renting.
> 
> As the Euro has been weakening against Sterling, they will be wanting more money to offset the fall.
> 
> Rgds,


Yes, the same goes for those who are selling to return to the UK. They are not as willing to accept lower offers at the moment as they are losing a lot on the exchange rate.


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## Cleo Shahateet (Feb 23, 2009)

He suggested that the price was negotiable. Now I can guess that, despite the lovely photographs, it is just behind the abbatoir and downwind from the sewage farm, and the next door neighbours keep a hundred hunting dogs in the garden, but I was surprised that an agent would be suggesting deals could be done. Private landlords ... maybe ... but agents (with an eye on their commission) ... unlikely.

Still time will tell.[/QUOTE]


Agents know their vendors and if they know that they will rent or sell at a lower price he can tell a client that. Most agents will let you know if the owner is open to offers if they know it to be true and the seller/renter is willing to let them disclose the info. 

It is so competitive in the sales and rental business most agents (independent ones that have some flexibility at least) would rather make the sale themselves at a lower commission than let it go to another agent.


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## Guest (Aug 12, 2012)

And it must ofc be better to rent out for 10% less per month than have an empty property

Or...


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## soppik (Apr 30, 2012)

We have just managed to sort out a years rental in Secret Valley for October and the agent has managed to get the owner to reduce from €850 to €500 for us. )


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## Guest (Aug 12, 2012)

I think that only proves that much of the prices both for rentals and sales is wishful thinking that have no relevance in the current market. With this loads of properties for rent, and for sale, and almost impossible to get a mortgage, and a declining economy, there is of course room for bargening and will be for long time yet

My view

Anders


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## MacManiac (Jan 25, 2012)

soppik said:


> We have just managed to sort out a years rental in Secret Valley for October and the agent has managed to get the owner to reduce from €850 to €500 for us. )


What a good deal! At least for you, if not for the owner.

It just whets my appetite for October as I love a good deal. I wonder how many empty properties there are in Cyprus, all looking for tenants.

Thank you for all the input, as it proves I am not quite in my dotage.


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## Guest (Aug 12, 2012)

MacManiac said:


> What a good deal! At least for you, if not for the owner.
> 
> It just whets my appetite for October as I love a good deal. I wonder how many empty properties there are in Cyprus, all looking for tenants.
> 
> Thank you for all the input, as it proves I am not quite in my dotage.


Thousands


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## MacManiac (Jan 25, 2012)

Just done another trawl around the regular sites, and noticed rentals have undergone another surge. One villa we first noticed was at €550 is now on at €825 a month. It will be interesting to see what the reality is when we arrive. It's a strange comment on a stagnant market that prices rise rather than fall when supply outstrips demand.


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## exup (Feb 13, 2012)

MacManiac said:


> Just done another trawl around the regular sites, and noticed rentals have undergone another surge. One villa we first noticed was at €550 is now on at €825 a month. It will be interesting to see what the reality is when we arrive. It's a strange comment on a stagnant market that prices rise rather than fall when supply outstrips demand.


We have monitored the resale market for the last 18 months. We have noticed that the same houses remain on the market, prices rarely drop, (some do but its the odd one rather than the norm) but the advice is that owners will accept offers. I expect it is the same with rentals. Cautious owners but always a deal to be done, even with a rental. We continue to watch the market.


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## MacManiac (Jan 25, 2012)

i recently contacted a couple of agents regarding properties they had on their books. In each case the villa was being let furnished, and we were enquiring as to whether it might be possible to let it unfurnished. Different agents responded, and both said they would contact the owner to enquire and both mentioned that the rent was "negotiable". A buyer's and renter's market it would seem to be, as many on this forum have posted.


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## oxocube123 (Nov 27, 2011)

*re rental*



macmaniac said:


> in the run-up to our move to cyprus, now only a couple of months away (steady now, i must be mature about this and not appear to be getting too excited) i have been trawling websites looking at long term rentals. I have been doing this for some months. Now we know that we shall probably find the right long term rental by driving around and seeing a sign on the side of a villa, ringing up the owner and doing a deal. We have a short-term let that will enable us to take our time.
> 
> But ... And i don't think this is my imagination ... I have noticed prices rising since the exchange rate between sterling and the euro started to rise. Villas i looked at a couple of months ago which were say €500 a month, now appear as €550 or even €600 a month. The websites are all priced in euros so it can't be that.
> 
> ...


the average rent for properties 1 bedroomed and sometimes 2 bedroomed is 500 euros upwards you might be lucky to find slightly cheaper properties but not often. If you rent on a complex or flats you have your community charges to pay and of course your water and electricity, electricity is now expensive in cyprus. To find a villa for 500 euros would be very difficult unless you was in the middle of nowhere. Some agents want a months rent for their services. You might be lucky to find a landlord who would be more interested in a long term let and would be more willing to negotiate, once you get here and speak to the e x p a t s they may be able to assist you, there is also the cyprus weekly and other publications where lets are advertised, it also depends on where you wish to reside the middle of tourist areas close to all amenities the rentals are higher priced. Good luck.


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## Guest (Sep 12, 2012)

arisoftnet said:


> You are right! Prices have risen .... but i guarantee you this ... once you go there with the money ... they will drop the price as apples getting dropped from the apple trees!


I have seen a lot of villas for rent for this 500 €. And if we come to winter month I am sure that prices can be discussed. Remember that manz countries in Europe now go into recession and that will not RICE the prices for sure. 

And I would never pay any money to any agent, that is the landlords business

Anders


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## MacManiac (Jan 25, 2012)

oxocube123 said:


> the average rent for properties 1 bedroomed and sometimes 2 bedroomed is 500 euros upwards you might be lucky to find slightly cheaper properties but not often. If you rent on a complex or flats you have your community charges to pay and of course your water and electricity, electricity is now expensive in cyprus. To find a villa for 500 euros would be very difficult unless you was in the middle of nowhere. Some agents want a months rent for their services. You might be lucky to find a landlord who would be more interested in a long term let and would be more willing to negotiate, once you get here and speak to the e x p a t s they may be able to assist you, there is also the cyprus weekly and other publications where lets are advertised, it also depends on where you wish to reside the middle of tourist areas close to all amenities the rentals are higher priced. Good luck.


Thank you for your post. I am sure, and will no doubt find out soon, that there are deals to be done. Even email enquiries to both agents and private landlords have shown that people are keen to negotiate if it means having a tenant rather than an empty property. I can't imagine living in the middle of a tourist area. We plan to find a village with a mixed community of Cypriots and expats, within reasonable travelling distance of Paphos, which has a reasonably traditional feel to it. A beautiful villa at the right price, lovely neighbours and ... So we are not hard to please, are we?


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## PeteandSylv (Sep 24, 2008)

MacManiac said:


> Thank you for your post. I am sure, and will no doubt find out soon, that there are deals to be done. Even email enquiries to both agents and private landlords have shown that people are keen to negotiate if it means having a tenant rather than an empty property. I can't imagine living in the middle of a tourist area. We plan to find a village with a mixed community of Cypriots and expats, within reasonable travelling distance of Paphos, which has a reasonably traditional feel to it. A beautiful villa at the right price, lovely neighbours and ... So we are not hard to please, are we?


I suppose you want good weather too!!!



Pete


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## MacManiac (Jan 25, 2012)

PeteandSylv said:


> I suppose you want good weather too!!!
> 
> 
> 
> Pete


Never crossed my mind.


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## oxocube123 (Nov 27, 2011)

Your wish should not be hard to please macmaniac there is more chance of finding nice villas and peaceful neighbours here in cyprus, in a village it can be awkward to want privacy aswell and it dose'nt do to fall out with anybody in a tight knit community. Best of luck i hope you find what you"re looking for.


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## MacManiac (Jan 25, 2012)

oxocube123 said:


> Your wish should not be hard to please macmaniac there is more chance of finding nice villas and peaceful neighbours here in cyprus, in a village it can be awkward to want privacy aswell and it dose'nt do to fall out with anybody in a tight knit community. Best of luck i hope you find what you"re looking for.


Neighbours can be either a curse or a delight, as we know from the UK and I am sure Cyprus is no different. One of the reasons we want to live in a mixed community is that we hope tolerance of different backgrounds and nationalities will be more widespread. Living in a ghetto has absolutely no appeal. I think someone, it may have been on another forum, was of the opinion that expats in his large village (I shan't say which one) wanted to live in "Surrey in the sun." We wouldn't be making as much effort in learning Greek if we wanted to live in some gated community. I appreciate your best wishes. It's turning out to be quite an adventure and we haven't even landed yet.


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